WINDOW ROCK, Ariz. — On Friday morning, President Nygren was joined by Resources and Development Committee member Rickie Nez, Natural Resources Director Mike Halona, Community Development Director Calvin Castillo, and Forestry Department Director Alexious Becenti for a signing ceremony of a letter to California Air Resources Board Chairwoman Liane M. Randolph.
After months of advocacy by the president and years of community outreach work by former RDC members on the 24th the Navajo Nation Council, the Navajo Nation moves forward with an innovative carbon offset project that would generate marketable credits for the sequestration of greenhouse gases. This is the process of capturing and storing atmospheric carbon dioxide.
Carbon credits, also known as carbon offsets, are a type of tradable permit that allows individuals, organizations, or governments to offset their greenhouse gas emissions by investing in projects that reduce or remove greenhouse gas emissions from the atmosphere.
For example, a company that emits a certain amount of carbon dioxide during its production processes can purchase carbon credits from a project that reduces greenhouse gas emissions, such as a renewable energy project or a reforestation project, to offset its emissions. Each carbon credit represents one metric ton of carbon dioxide equivalent that has been reduced or removed from the atmosphere.
Carbon credits are often bought and sold on carbon markets or exchanges, and their price can fluctuate based on supply and demand. They are used as a tool to incentivize and finance the development of climate-friendly projects and to encourage individuals and organizations to reduce their carbon footprints.
“The Nygren Administration is committed to working hand in hand with the Navajo Nation Council to get hard work done. Honorable Rickie Nez has aways been a champion for carbon credits that would reduce the amount of carbon dioxide in our atmosphere,” said President Nygren.
President Nygren said his administration, along with delegate Nez, could hold public hearings and explain to the Navajo people what carbon credits are.
“It is imperative that we protect our land, air, and water. This letter is the first step to generate new revenue for the Navajo Nation with the goal of reducing global climate change,” said President Nygren.
Working with ANEW, a carbon marketer, this new project would qualify under the California Air Resources Board’s Compliance Offset Protocol for U.S. Forest Projects.
The goal is to generate an income stream through the sale of carbon credits. The Forestry Department of the Navajo Nation will oversee operations.