The National Trust is coming up with new ways to raise money and it includes using a company’s carbon output to drum up money for the Land Reserve Fund, it’s called selling carbon credits.
Here’s how it works: a company will approach the Trust and show staff how much carbon has been released into the atmosphere. The Trust then calculates that number and show the company how much carbon has been stored in the local mangroves and suggest purchasing mangrove wetland to balance it out.
“By selling these credits it helps offset companies and individuals ecological footprint and by doing that we raise more money so we can buy more wetlands which we can sell more carbon credits from, so it’s a perfectly closed loop system, very sustainable,” said Director of the National Trust, Christina Pineda.
The National Trust said in the Cayman Islands, mangroves contain approximately 2100 metric tons of carbon emissions per hectare and it costs roughly $30,000 to purchase a hectare of wetlands.