US-based non-profit fund manager The Climate Trust bought 243,375 CCOs from Green Assets’ Middleton Avoided Conversion project, the companies said in a statement on Tuesday.
The price paid for the credits was not disclosed though developer Green Assets opts to sell its credits only after delivery, the company’s founder and chairman Hunter Parks told Carbon Pulse.
Green Assets was issued with 285,687 CCOs from the project by California regulators on Feb. 24, though 35,300 of those will be held in the state’s buffer account.
The project received the units for conserving more than 3,700 acres of coastal forest in South Carolina between 2007 and 2013, becoming the first avoided conversation compliance grade credits in the market, Parks said.
The project is adjacent to Middleton Place, home to America’s oldest landscaped gardens.
By Ben Garside – ben@carbon-pulse.com
