Selling Carbon Credits (Way to go, Bethlehem)
As printed in today’s Express-Times, the City of Bethlehem is looking to bring in some revenue from its open space through the sale of carbon credits. This is significant as it presents a valuable way for a municipality to reap benefits from open space that go beyond the obvious. How would this work? The paper reports:
According to Mayor John Callahan and Bethlehem Authority director Steve Repasch, the city’s water resources and surrounding lands in the Poconos hold the potential for significant revenue streams in sellable carbon credits and timber stock.
Repasch said at current rates, the lands might be worth $100,000 a year in sellable carbon credits, or offsets that businesses and other entities can buy as credit toward their own carbon footprint.
This is an exciting development, one that other local municipalities might follow (if they can).