Formosa Plastics
BCarbon is pleased to announce the receipt of a grant from Formosa Plastics (“Formosa”) to study the feasibility of its recently completed living shoreline wetland protection and blue carbon credit protocol in the vicinity of Formosa’s Point Comfort, TX facility. This is the first study of its kind seeking to identify carbon credit opportunities proximate to a Texas coastal manufacturing facility. This research project follows the recent approval of BCarbon’s Living Shoreline Blue Carbon credit program at its April 6 stakeholder meeting. This living shoreline carbon protocol was created by a stakeholder working group of over fifty parties with expertise in coastal wetland protection and carbon transactions and was subsequently approved by BCarbon’s full stakeholder group of over 550 members.
This research project follows the recent approval of BCarbon’s Living Shoreline Blue Carbon credit program at its April 6 stakeholder meeting. This living shoreline carbon protocol was created by a stakeholder working group of over fifty parties with expertise in coastal wetland protection and carbon transactions and was subsequently approved by BCarbon’s full stakeholder group of over 550 members. The BCarbon coastal living shoreline protocol is based upon protecting our coastal wetlands from sea level rise. Coastal wetlands are among the most prolific carbon sinks in the world, but they are threatened by rising sea levels. By constructing living shoreline projects such as shown below, the wetland can be protected against the wave erosion and can be supported in trapping sediment needed to keep up with sea level rise.Living Shorelines certified under BCarbon’s protocol generate carbon credits in two ways.
First, there is a large volume of organic carbon stored in coastal wetlands that will be released if the wetland is not supported in its attempt to survive rising sea level and protected from wave erosion. Second, a protected wetland will continue to sequester carbon into the future. Equally important are the associated benefits to the coastal fishery that depends upon wetlands as a nursery for shrimp, crabs, and flounder, among many other species. Oyster spat will be seeded on these shoreline structures to enhance this shellfish that is a focal point of coastal fishery policy in Texas. The concept for the Living Shoreline Blue Carbon protocol arises from a document published by the Texas Coastal Exchange, wherein 1000 miles of coastal living shoreline was proposed to protect the wetlands of the Texas coast. Insufficient federal and state grant money exists to build the hundreds of miles of living shoreline needed on the Texas coast. By creating a program around the carbon storage benefits of these living shorelines, private capital will become available to construct these much-needed projects.
Under Formosa’s grant, BCarbon will evaluate the potential of locating living shoreline projects in coastal estuarine areas near their Point Comfort plant that is on Matagorda and Lavaca Bays. Formosa is considering incorporating these nature-based carbon credits into their carbon footprint reduction plan. According to Ken Mounger, Executive Vice President of Formosa, “We are committed to integrating our carbon reduction programs into the natural ecosystems in and around our facilities. This fits in very nicely with our evolving interest in, and commitment to, working with the circular economy.” “We are very interested in working with industry to develop innovative solutions that use the natural system to address carbon footprint issues” said Jim Blackburn, CEO of BCarbon. “We are also very interested in supporting the migration of the plastics industry to the circular economy of the future. By closing the carbon cycle and enhancing biodiversity, the coastal living shoreline concept is an excellent addition to corporate sustainability thinking and furthers the concept of the circular economy.” The investigative work to take place under the grant should be completed within approximately six months.
