VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 21, 2014) - Offsetters Climate Solutions Inc. ("OCS" or the "Company") (TSX VENTURE:COO)(FRANKFURT:9EA) is pleased to announce that international development company, Chemonics International LLC ("Chemonics"), has awarded the consortium of Ecological Carbon Offset Partners LLC ("ecoPartners"), ClearSky Climate Solutions LLC ("ClearSky") and Offsetters, a second contract ("Phase Two") to develop project documentation for their ongoing BioREDD+ program in Colombia, South America.
Under the terms of the new Phase Two contract, the team of ecoPartners, ClearSky and Offsetters will be responsible for developing and writing complete Project Design Documentation for four additional REDD+ projects being undertaken by Chemonics and its partners in Colombia. REDD - Reducing Emissions from Deforestation and Degradation, is a carbon market mechanism that incentivizes land owners to leave forests standing, thereby increasing carbon stocks over time. Under Chemonics BioREDD+ program, the four new projects will also be developed using both the Verified Carbon Standard ("VCS") to recognize the carbon benefits, and the Climate, Community and Biodiversity Alliance ("CCBA") Standard, which will recognize the social, environmental and biodiversity impacts in the project areas.
Funded by USAID, the BioREDD+ program in Colombia has run from 2011 and will run through 2014. Lead by Chemonics International, OPTIM and Fundacion Natura, USD $27.8 million dollars will be invested through multiple activities supporting biodiversity, climate change mitigation (REDD) activities, and climate change adaptation activities in the Choco and Caribbean regions. The major goals of this program are the establishment of at least eight financed REDD+ projects in the pacific region covering one million hectares, as well as a carbon baseline for the pacific and amazon regions in support of Colombia's regional REDD+ program.
"The initial work undertaken in Colombia by this consortium has been well received by Chemonics, and we are pleased to have been granted the opportunity to continue the work into Phase Two of the program," commented Dr. James Tansey, CEO of Offsetters. "This new contract will help Chemonics reach the goal of having eight unique REDD programs established under the BIOREDD+ program in Colombia."
James Tansey, Ph.D., President and CEO
Offsetters Climate Solutions Inc.
About Chemonics International Inc.
Founded in 1975, Chemonics is an employee-owned international development company dedicated to helping people live healthier, more productive and more independent lives. Chemonics has worked in more than 150 countries, helping clients, partners and beneficiaries implement innovative projects that achieve development impact. www.chemonics.com
About Ecological Carbon Offset Partners LLC
Based in Berkeley California, ecoPartners is a leading technical consulting and project development group focused on land use activities, both in North America and Internationally. ecoPartners' experience includes VCS methodology development, REDD and Improved Forest Management Project Design Document creation, project feasibility assessments and verification support services. www.ecopartnersllc.com
About ClearSky Climate Solutions LLC
ClearSky Climate Solutions, based in Missoula Montana, is focused on the design and development of market-based forest carbon projects. With a deep background in REDD, ClearSky provides project design and development services, strategic consulting and community engagement services to ensure social and environmental safeguards are fully integrated into project development activities. www.clearskyclimatesolutions.com
About Offsetters Climate Solutions Inc.
Offsetters is Canada's largest and most diversified carbon management solutions company. Its team of industry leaders specializes in the origination, development and commercialization of high-quality carbon offset projects, and through a comprehensive offering of sustainability consultancy services Offsetters helps organizations understand, reduce and offset their climate impact. A merger of ERA Carbon Offsets and Offsetters, Offsetters is based in Vancouver, Canada and has worked with over 150 of the world's most prestigious organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE - Entega, and Shell Canada Limited. Offsetters is publicly listed company on the Toronto Venture Exchange (TSX VENTURE:COO) and in Frankfurt:9EA. For more information, please visit us at www.offsetters.ca.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of forest-based carbon offsets. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Offsetters Climate Solutions Inc. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
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