New Release
Chemonics International Awards Second Contract for Colombia Redd Project Development to Consortium of Ecopartners, Offsetters and Clearsky 09:30 EDT Friday, March 21, 2014 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.