The Mountain Pine Ridge Forest Reserve

Stabilization – Reforestation – Restoration – Sequestration       

BELIZE

Background

Belize has become one of the world's most biologically diverse nations with the integrity of its natural resources still very much intact. A conservation economy, Belize preserves 80% of its land under forest covers, the largest coral reef in the western hemisphere (second only to Australia's), the largest cave system in Central America, over 500 species of birds, thousands of Maya archaeological temples and the only jaguar reserve in the world. With only 8,867 square miles (22,960 sq. km) and 250,000 people, the population density is the lowest in the Central American region and one of the lowest in the world. The only country in Central America with English as its official language, Belize also has a rich mix of ethnicities including Creole, Maya, Mestizo, East Indian, Chinese, Garifuna and Mennonite.

The people of Belize have for years monitored its rate of economic development, agricultural expansion and tourism growth in particular. A conservation consciousness has emerged that challenges the government, private sector, investors and the public at large to balance development with conservation of its natural resources. Consequently, to date Belize has 42% of its land under some form of legal protected status.

The Mountain Pine Ridge Carbon Sequestration Project:  Vital Statistics

Location:  Within the 300 square mile Mountain Pine Ridge Forest Reserve of the Maya Mountains in the Cayo District of south/central Belize.

Project Size: 90,000 acres

Ownership:  Within the 300 square mile Mountain Pine Ridge Forest Reserve of the Maya Mountains in the Cayo District of south/central Belize.

Profile:  The Mountain Pine Ridge Forest Reserve is within the oldest geological area of Central America, and is regarded as an ‘island’ of important biogeography. The red earth and mountain terrain, ancient forests, dense Caribbean pines, giant ferns, granite outcroppings, tumbling waterfalls, huge limestone caves, and rolling open savanna grasslands, bordered by lush tropical rainforest, make the Reserve unique in all the world.

Rare and beautiful wildlife lives unaffected by human habitation; large puma and jaguar are sometime seen along the roads, the Baird’s tapir (Belize’s national animal) leaves his trails along the forest floor, the shy ringtail “quash” (coatimundi) may peer up from his daytime sleep, and the endangered Ocelot is protected throughout Belize. For the bird watchers, the opportunities are endless; the rare orange breasted falcons and the stygian owl, the huge white King Vulture and the oscillated turkey, various darting hummingbirds and noisy acorn woodpeckers, blue crown mot mots, keel billed toucans, and red lored parrots are among the over 200 species of exotic tropical birds to be seen.

Originally, the reserve was declared to protect the natural pine forests from fire, grazing and cultivation and to secure natural regeneration. Other considerations were the management and conservation of the forest and the conservation of soil and water resources. In the 1970s, its nature conservation function was recognized, and in the contemporary management approach, designation also enables controlled access to important recreation sites. The Government of Belize recognizes a management principal, which combines economic benefit with preservation of the environment.

Mission:  To survive the natural endemic forest ecosystem through a reforestation and restoration program.

Threats: The extinction of the endemic Pinus caribaea var. hondurensis forest, from an unprecedented attack of the Southern Pine Bark Beetle (Dendroctomus frontalis). Natural regeneration has failed almost completely, largely due to the loss of viable seed production. 90% of the Pine trees are dead or dying. A significant amount of habitat is at risk of being lost, displacing much of the endemic wildlife. Collateral threats include: soil erosion; desertification; siltation in the watershed network affecting freshwater species and effluence into the barrier reefs affecting saltwater and coral species; economic and social losses associated with tourism, recreation, forestry, and employment; and the imminent loss of Belize’s primary potable water source reservoir and hydroelectric power infrastructure.

Action Plan:  The restoration and reforestation project has begun. Almost 2 years of planning have now been committed to action. The Government of Belize, in an effort to minimize environmental risk, has undertaken a management plan, which is suppressing further Pine Beetle attacks, executing effective fire control measures, the protection of wildlife habitat, and the containment of soils and water quality. Seed from the Mountain Pine Ridge Forest Reserve provenance that has demonstrated superior vigor is being used to propagate container-grown seedlings. Woody Plant Pathologists and Silviculturists have tested seed and field and are confident in the successful re-establishment of this uniquely dense, fast growing Pine forest. The requisite technology, science, and expertise are principal in this project to insure its complete success. The reforestation nursery is producing healthy vigorous seedlings. As of August 2002 planting has begun and will continue for 4-years or until the entire forest is re-established.

Priority: The Mountain Pine Ridge Carbon Sequestration Project is the largest reforestation and carbon sequestration climate change activity in the world.

Team: 1) The Government of Belize, whose obligation it is to protect and sustain the forests of the Mountain Pine Ridge Forest Reserve through a long-term management plan. 2) Global Forest Nursery Development, Inc., a group of highly accredited Foresters, Woody Plant Pathologists, and Silviculturists that bring vast international experience in tropical forestry, pine seedling propagation and forest re-establishment. Global will lead the nursery and field reforestation efforts. 3) Forest Securities, Inc., an international Forestry Investment Management Corporation, which provides for biomass and carbon sequestration management, environmental finance, and risk management. Forest Securities is representing the sale of the carbon benefits. 4) A consortium of contributions from professionals, organizations and governments in the United States,
Belize, Canada, Australia, South Africa, Norway, Mexico, Honduras, and Guatemala.

Conservation Concession:  Funding for the re-establishment of Pinus caribaea var. hondurensis in the Mountain Pine Ridge Forest Reserve will be achieved through the sale of the climate change benefits created through implementing the reforestation and managing the resource as a carbon sequestration storage project. A Carbon Budget Analysis has been conducted on the reforestation of the Mountain Pine Ridge Forest Reserve. This analysis has verified that reforestation will create valuable carbon offsets that are, at least, equal to the re-establishment and management costs of this ecosystem. Significantly, this high profile initiative will contribute to important socio-economic and environmental principles. There is high confidence in the project to net carbon benefits that are an eligible, fungible and saleable commodity. This commodity is now being offered for investment.

Project Duration: 55-years

Carbon Benefit: 
48,000,000 tonnes of C0₂ equivalent

Initial Carbon Offering: 
18,000,000 tonnes of C0₂ equivalent @ $1.00 per tonne of C0₂eq

Opportunity Cost: $18,000,000 US

Terms: The opportunity cost of $18m is presented as the spot price with guaranteed delivery being annualized over a term of 14 to 21 years. Smaller to larger volumes of C02 reductions can be delivered in termed tranches. Pricing consideration is first based on the Project funding requirements, secondly on the selected crediting period, and thirdly on the corresponding initiative.

 

Project Details:

1) Prospectus 2.6 MB

2) Verfifications 2.0 MB

3) Progress Report - September 2002 2.0 MB

4) Progress Report - November 2002 439 KB

4) Progress Report - December 2002 1.35MB

The documents above are in Adobe PDF file format and as such require the Acrobat plug-in to be viewed. If you require this application , please click here.

Maps - Click to view:

> Physical Map of Belize 76k

> Protected Area Map of Belize 173k

For more information on the Mountain Pine Ridge Carbon Sequestration Project and this proposal please contact:
Cody Walden, President, Forest Securities, Inc. at  +1 (208) 726-8445 or CW@forestsecurities.com. Website: www.forestsecurities.com