West Virginia Carbon Dioxide Storage Agreement
Description
How to fill out Carbon Dioxide Storage Agreement?
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FAQ
Several carbon offset programs have been made available to West Virginia (WV) forest landowners that allow them to manage their forests to mitigate climate change while providing an opportunity to earn extra income through carbon credits.
The Appalachian Basin, which includes West Virginia, can store approximately 20 metric gigatons of carbon dioxide. The forests and urban trees in West Virginia remove 16 percent of all carbon dioxide emissions in the state, and 14 percent of all carbon emissions in the U.S.
Under West Virginia law, "[a] claim of unjust enrichment generally entails the establishment of three elements: (1) a benefit conferred upon the [defendant], (2) an appreciation or knowledge by the defendant of such benefit, and (3) the acceptance or retention by the defendant of the benefit under such circumstances as ...
A carbon offset program approves verification reports, and then issues a number of carbon offset credits equal to the quantity of verified CO2-equivalent GHG reductions. Offset credits are generally deposited into the project developer's account in a registry system administered by the offset program.
Typically, when someone buys a carbon offset, the money goes to pay for a reduction in greenhouse gases that has already occurred. This purchase supports an existing project. However, sometimes community-based projects don't have enough funding to be built in the first place.
Carbon offsets are tradable ?rights? or certificates linked to activities that lower the amount of carbon dioxide (CO2) in the atmosphere. By buying these certificates, a person or group can fund projects that fight climate change, instead of taking actions to lower their own carbon emissions.
A carbon offset credit is a transferrable instrument certified by governments or independent bodies to represent an emission reduction of one metric tonne of CO2 that the purchaser can claim as a reduction towards their own GHG reduction requirements.
