The goal of efforts to address global climate change
is to achieve a stabilization of greenhouse gases in the atmosphere at
a safe level. As the increase in atmospheric greenhouse gas levels has
come from fossil fuel emissions as well as land use and forest management
practices, a comprehensive approach to addressing emissions is required.
Forests and forest soils worldwide represent a significant pool of carbon.
Efforts to conserve and enhance forest carbon sequestration and carbon
storage are one part of the overall effort needed to address climate change.
The use of carbon sequestration in forests must be
undertaken in a way that ensures positive benefits. The Hancock Natural
Resource Group (HNRG) will abide by the following principles in all carbon
sequestration projects:
- HNRG investment products will be compatible with a conservative
understanding of Kyoto Protocol until such time as final agreement
is reached among countries on the Kyoto mechanisms.
- Action to address climate change must be based on the principles
of sustainable development.
- All carbon sequestration projects will include consultation
with stakeholder groups and transparency in performance measures
for each project.
- All carbon sequestration projects will be designed to contribute
to rural community goals- including indigenous communities-in
the areas where they are established.
- HNRG is committed to transparency in the calculation of carbon
stocks in projects and will use independent third-party verification
of all carbon estimates.
- HNRG believes that, in principle, the world must aim for a comprehensive
accounting of all land-based sources and sinks and all emissions
to adequately address the objectives of the Framework Convention
on Climate Change.
- No native forests will be cleared for these new planted forests.
They will be established on previously marginal agricultural land.
- Where plantation projects are managed for both timber production
and carbon sequestration, a comprehensive accounting of both sequestration
and harvest of carbon stocks will be undertaken. All harvest accounting
will be undertaken in accordance with IPCC guidelines. Registries
will be utilized over time to ensure ongoing carbon stocks are
maintained.
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