Forest Fete 2008 Set for

Sept. 18 in San Francisco

Champions Honored at ‘07 Ceremony

L andowners win with woods.

iEnvironmentalists win with
woods. Investors win with woods.
Scientists, foresters, policymakers,
businesses, families and indeed all of
us win with the wood, water, wildlife
and the well-balanced climate provided
by America’s bountiful woodlands.
And so, in this election year, we are
pleased to announce that Forest Fete
2008 will be a special “conservation
convention” with the theme Everybody
Wins with Woods.
Scheduled three months earlier than
in the past, Forest Fete 2008 will take
place on Thursday, September 18th in
San Francisco. The evening will feature
a keynote speaker, live music, silent
auction and several surprises.
Please save the date and make your
plans to attend. Reservations can be
made online at www.pacificforest.
org/forestfete/forestfete08.html.
Speakers, sponsors and honorees will
also be listed on this web page as they
are announced.

While looking ahead to Forest Fete
2008, we also take this opportunity to
look back to Forest Fete 2007.
Generously supported by K&L Gates,
Pacific Gas & Electric Company and
others, Forest Fete 2007 paid tribute
Year for their model stewardship of
commercial forests in Washington and
Capitalizing on
Oregon. PFT Stewardship Forester Matt
Fehrenbacher was named Outstanding
Staff Member of the Year.

Terry Tamminen, former Cal-EPA

Forest Carbon
to our Evergreen & Evergiving forests Secretary and leading environmental Climate Benefits from Forests
and their champions. Mary Nichols, strategist, gave the keynote address. Begin to Bear Financial Fruit
Chair of the California Air Resources He praised PFT’s trailblazing Working
Board, received our Outside-the-Box Forests, Winning Climate program,
Carmen award for her support of the Forest proclaiming “Nobody is doing more for
CONVENIENT TRUTH
Ancinas
Port Blakely Protocols. Port Blakely Tree Farms the climate and the positive role forests PFT Participates in
was named Forest Champion of the can play than the Pacific Forest Trust.”t Gore’s Climate Summit
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 CSNM Project Receives Thank You
ForestLife Critical Federal Funding We gratefully acknowledge the following donors whose generous financial gifts
Forests for Work. Forests for Life. and pledges between November 2007 and April 2008 have helped make our work possible
Federal funding has been approved to transfer
The Newsletter of nearly 1,000 acres of biodiverse forestlands John K. Graham & Douglass & Katherine Raff Mission Point Capital Partners
Individuals
The Pacific Forest Trust now held by the Pacific Forest Trust (PFT) Michael & Susan Addison Katherine Munro James D. Range Pacific Gas & Electric Company
into public ownership for official inclusion Maria C. Alexander Kass Green & Gene Forsburg Bill Reynolds Port Blakely Tree Farms
Board of Directors in the Cascade-Siskiyou National Monument Judith E. Ayres & John Burke III H. Cort Gross & Jim Riley R&A Investment Forestry
Walter Sedgwick, Co-Chair (CSNM). The lands to be transferred connect Bill Banzhaf & Adela Backiel Mary Trombadore Bob Roberts Trillium Asset Management
Misty & Lewis Gruber Jeff Romm WM Beaty & Associates
Timothy N. Taylor, Co-Chair with old-growth stands owned by the Bureau Alvin Baum, Jr.
Perry Hagenstein Martin & Joan Rosen
Don Beaty
William W. Stelle, Jr., Vice-Chair of Land Management (BLM) and include a Eldon & Helen Beck Henry & Wells Hamilton Ted Rouse Foundations
Charles Swindells, Treasurer mile of the famed Pacific Crest Trail. BLM Cheryl Belcher David Hartwell & Leo Roy Bella Vista Foundation
Andrea E. Tuttle, Secretary
will purchase these in-holdings thanks Cynthia Beren Elizabeth DeBaut Tom & Nona Russell Compton Foundation
Laurie A. Wayburn, President Edwards Mother Earth Foundation
to the support of Oregon’s U.S. Senators Moe & Frances Beren Elizabeth Helmholz Susan & David Scannell
William H. Banzhaf Family Fund Gary Hendrix Bob Schofield John & Elaine French
Constance Best Ron Wyden and Gordon Smith, and U.S. Forrest & Marsha Berkley Maurice & Janice Holloway Walter & Jeanne Sedgwick Family Foundation
Norman L. Christensen, Jr. House Representative Peter DeFazio, who Senator John Bernstein Robert Hrubes Geoffrey Smith Richard & Rhoda Goldman Fund
O.H. Perry Lloyd together helped secure more than $860,000 Wyden Constance Best Bill Hutton Larry & Carla Smith Heller Charitable &
in federal grants.
Kirk Marckwald Doug Bevington Joe Kastner Peter & Nora Stent Educational Fund
Sally Bingham Marianna Kaufman & Ann & Ellis Stephens Henry P. Kendall Foundation
Timothy B. Pirrung
Diana M. Aleman Adam Stern Kongsgaard-Goldman Foundation
James D. Range “It is great to have the Pacific Forest Trust as a partner in efforts to conserve Lucy Blake & Steve Nightingale
William W. Keye Charlie Swindells Linden Trust for Conservation
Louis Blumberg &
Hal Salwasser land within the Monument,” says Senator Wyden. “The Monument’s unique Ellen Friedman Robert & Edie Kirkwood Robert H. Sydnor Lyndhurst Foundation
Gregory Tebbe biological diversity needs safeguarding, and a key step is working with the BLM Marion A. Boggs III & Clara Nancy Kittle Timothy & Billie Taylor Merck Family Fund
William Hutton, Counsel to acquire these important lands so that they will benefit the American people for Thomas Boggs Peter Kodzis Terri Thomas Gordon & Betty Moore Foundation
generations to come.” Anthony & Carol Boutard Kate Levinson & Stephen Costa George & Anita Thompson Moore Charitable Foundation
Mike Liquori Steve & Renee Thompson National Fish and
Staff Peter Boyer & Terry Gamble
PFT’s protection of a mile-long section of the Pacific Crest Trail in the CSNM has Allan & Marilyn Brown Samuel & Cindy Livermore Karie & David Thomson Wildlife Foundation
Laurie A. Wayburn, President Oregon Community Foundation
Perry & Tricia Lloyd William Laney Thornton &
Constance Best, Managing Director also led us to partner with Jeramy Villianos and Serena Becker who are hiking Magalen O. Bryant
Ruthanne Lorentzen Pasha Dritt Thornton David & Lucile Packard Foundation
Joseph Bunker
Randall Beren, Communications Director the entire 2,650-mile trail this spring to raise funds for wilderness conservation. Donald Miller Campbell Dan Luoma & Joyce Eberhart Eric & Stephanie Tilenius San Francisco Foundation
John Bernstein, VP Conservation PFT will receive a portion of the donations to the duo’s “Walk for Wildlands” Family Fund Ewan MacDonald Frank Tsai & Frances Town Creek Foundation
Ann Chan, California Policy Director
effort. Read more about their philanthropic journey at www.walkforwild.org. t Peggy C. Campbell Kirk Marckwald & Chris Desser Reynolds-Tsai William C. Kenney Foundation
Sally Ericsson, National Policy Representative Charles & Kristine Cardall Dan Martin Russell Turner & Elva Ortiz-Turner
Matt Fehrenbacher, Stewardship Forester Norman & Portia H. Christensen William & Janet McLennan Andrea & Don Tuttle In-Kind
Rachel Freund, Conservation Associate Tebbe & Marckwald Join PFT Board, Maribeth Collins Amy Meyer Steve Van Landingham & Acme Bread Company
Michael & Jeanne Adams/
Christine Harrison, Communications Manager Terry & Barbara Collins Douglas Miller Matthew O’Grady
Rachael Katz, Policy Associate Rosen to Help Build National Network Cherida Collins Smith & Mark Miller Kirby Walker & Paul Danielsen Ansel Adams Gallery
Wayne & Joan Miller Laurie A. Wayburn Back to Earth Catering
Peter Kodzis, Director of Finance & Admin.
We are pleased to welcome two new Glenn Smith
Martha Nelson & Cynthia Wayburn ESRI
Jessica Neff, Stewardship Associate Dave & Linda Cox
Sean O’Sullivan, Office/IT Manager
Board members, Gregory Tebbe and Kirk Michael Cummings Kristine Peterson Edgar Wayburn Frey Vineyards
Alex Page, Development Associate Marckwald. Tebbe recently retired after Henry & Vergilia Dakin Karla Nemeth Georgia Westdahl Harney & Sons Fine Teas
Kevin Raymond, Washington State Director working for 21 years in Goldman Sachs’ Peter Davis & Joan Irwin Jim & Lisa Nicol Bill Wilkinson Hayes Street Grill
Husch Vineyards
Jonathan Remucal, Stewardship Manager securities division. Marckwald is the founder Gwendolyn Dhesi & Alicia Nimer Torre &
Jonathan B. Nimer
Patrice Winchester
Kirke Wolfe Jeremiah’s Pick Coffee
Nirmal Singh
Emily Russell-Roy, Policy Associate of California Environmental Associates and Carl Ehlen Nancy Nordhoff Delphine Zeuli John Bentley’s Restaurant
Nicole Schuetz, Development Associate former Undersecretary of the California Theodore & Patricia Eliot John & Kari Novatney Lagunitas Brewing Company
Dale Thornburgh, Ph.D., Senior Forester
Resources Agency. James Ellis Edward O’Brien & Businesses McEvoy Ranch
(CA Registered Professional Forester #430) Patricia Hickey 3Degrees Navarro Vineyards and Winery
Eric Fenster
Steve Van Landingham, Development Director Autodesk Numi Organic Tea
Megan Wargo, Conservation Manager Marty Rosen, though no longer on the Board James P. Finerty William P. & Julie Parish
Peter & Julie Parker The Campbell Group Oak Hill Farm
Betsy & Jesse Fink
Jolanta Zakrzewski, Accountant due to term limits, will continue to assist Dwight & Joann Freund Judson M. Parsons The Collins Companies Ravenswood Winery
PFT by helping us build our national support John Fullerton Anne Pattee Ecohaus Saintsbury Winery
Editors: Randall Beren & Christine Harrison network. Rosen, an attorney and former Marty George C. Gaines & Mary Moore Anne Peterson Hancock Timber Resource Group San Francisco Hat Company
San Francisco Symphony
president of the Trust for Public Land, had George Peyton, Jr. Harney & Sons Fine Teas
Art Director: Randall Beren Rosen Lorraine Gallard
K&L Gates SOAR Inflatables
Holiday Phelan-Johnson &
served on the board since our inception. Thomas H. & Barbara Gaman
Christopher Johnson Lyme Timber Company Sports Basement
Alison Geballe
© 2008 The Pacific Forest Trust.
Thelma & Charles Gilmur Timothy & Ulrike Pirrung MMA Sustainable Peter Stent
All rights reserved.
Reproduction permitted with attribution. After nine years of dedicated service, Misty Gruber has also departed the Board. Laurie R. Gneiding & Donald Putnam & Susann Kellison Land Investments Sugar Bowl Ski Resort
She will, however, continue to work with us on conservation finance programs. t Michael J. Brady Mendocino Redwood Company Veritable Vegetable

2 7
 Broadcast News Love Creek Legacy Ensured
PFT Garners High-Profile Media Coverage Leading Family Owners Conserve Calaveras Working Forest

T he Pacific Forest Trust has attracted

unprecedented media coverage
this year with a series of high-profile
television, radio, newspaper, magazine
and web stories describing our work to
protect working forests and promote
their climate benefits.
The In May, our Van Eck Forest Project
Harneys was featured on National Public
Radio’s (NPR) Weekend Edition in a
story that was broadcast worldwide.
Greener Tea: The report features an in-the-forest
Harney & Sons interview with PFT President Laurie
Wayburn plus a “guest appearance” by
donate 1% two visiting Northern Spotted Owls. A
streaming version of the story can be
Magazine and can be viewed via a
link found at www.pacificforest.org/
news/media.html.
In March, PFT’s climate expertise
was featured on PBS’ long-running
NewsHour with Jim Lehrer. Laurie
Wayburn was interviewed and appears
on camera in a segment exploring
carbon offset markets. View the video
and read the transcript at www.pbs.
org/newshour/bb/environment/jan-
june08/carbon_03-06.html.
Also in March, the San Diego Union-
Tribune ran a story about forests and
their ability to hold and store carbon
in which it describes PFT’s Van Eck
L ove Creek Forest – a 413-acre
imixed-conifer working forest
located outside the town of Arnold
in Calaveras County, CA – has been
conserved through a partnership
with the Pacific Forest Trust (PFT),
the Sierra Nevada Conservancy and
the Smith family. Love Creek Forest
shares its boundaries with two Sierran
treasures – Big Trees State Park and
Stanislaus National Forest – and has
been managed sustainably under the
American Tree Farm System.
Private forests adjacent to publicly
protected parks are at high risk
of being converted to non-forest,
residential use due to their desirable
location. The Smith family, in fact, had
witnessed an ever-increasing number
of subdivisions rising up around their
property when, last year, they decided
it was time to act.
The Smiths entered into a working
forest conservation easement (WFCE)
agreement with PFT this past
December. The voluntary, yet binding,
arrangement guarantees Love Creek
Forest will forever remain a working
forest that delivers wood products,
water quality benefits and critical
wildlife habitat.
Larry
Now, the Smiths are considering a
forest management plan that also will
Smith

John Harney and his sons, Michael
and Paul Harney, have been in the
business of selling fine teas infused
with elegance since 1983. They’ve
made many innovations since entering
what once was a very traditional
industry, adding a wide array of new
products and, in the process, making
gourmet tea an “everyday luxury.”
They’ve also put a green twist on their
business model. By joining 1% for the
Planet, an alliance of more than 800
companies that give one percent of their
sales to environmental causes, Harney
& Sons Fine Teas is trying to minimize
the net impact their operations have on
the planet by supporting organizations
committed to sustainability.
“We support groups whose ideals we
admire and whose efforts are proving
effective,” says Harney. “PFT meets
these objectives.”
“We’re in a forested area and our
company sells a fair amount in the
Pacific states,” adds Harney. “And
since we appreciate conservation and
innovative climate solutions, PFT has
been a great fit for us.” t
found online at www.npr.org/templates/
story/story.php?storyId=90570215.
An early version of the piece with
commentary by international climate
consultant and PFT board member
Andrea Tuttle ran on KQED’s
California Report in April. That
version, along with photos of the
Van Eck Forest, can be accessed at
www.californiareport.org/archive/
R804280850.
The radio stories followed on the
heels of a special Earth Day story
in People magazine featuring PFT
founders Laurie Wayburn and Connie
Best. A PDF of the full-page story
– which depicts Wayburn and Best
as “Protectors of the Planet” – can be
viewed and downloaded on our website
at www.pacificforest.org/news.html.
Also in April, Yahoo! News’
Assignment Earth series ran a video
story entitled “Big Trees Fight Global
Warming” that features Wayburn
discussing Van Eck and forest
carbon. The segment is derived from
an earlier 2008 story in OnEarth
6 3
Forest Project as “the most notable” deliver climate benefits. The Smiths are
working forest being managed for its exploring the possibility of registering
climate benefits. the carbon dioxide (CO2) emissions
reductions achieved by their excellent
forestry with the California Climate
Action Registry.
“Not only are we protecting our
land from development, we have the
opportunity to manage our forest
to store more carbon and reduce
greenhouse gas emissions,” says Larry
Smith, the youngest Smith son and
current Love Creek Forest manager.
“We may be able to generate additional
revenue by practicing a method of
sustainable forestry that yields both
timber products and climate benefits
and we are just now starting to
investigate this option.”
In February, the landmark sale of 60,000
metric tons of emissions reductions The Smiths, who have owned
from Van Eck to Natsource Asset Love Creek Forest for more than
Management was covered by several 65 years, have long been involved
prominent media outlets including the in conservation efforts to protect
Wall Street Journal, Associated Press, Calaveras County’s natural resources
Reuters, Bloomberg News and the and public lands. In 1974 for
Sacramento Bee. Read stories from example, Dr. Ben Smith and his wife
these publications and others at www. Dutton – the original Smith family
pacificforest.org/news/media.html. t owners and Larry’s parents – were
“The working forest conservation
easement protects the property forever,
but allows flexibility in the way we
manage it,” says landowner Larry Smith
of the agreement with PFT.
active in creating the Calaveras
Big Trees Association, a volunteer
organization dedicated to preserving
and promoting Big Trees State Park.
The Smiths generously donated the
easement to the Pacific Forest Trust.
In doing so, the family was able
to take advantage of the expanded
federal income tax benefits that were
available through the end of 2007 and
that currently are being considered
for renewal by Congress. The Sierra
Nevada Conservancy, an agency of the
State of California, funded the project’s
transactional costs.
The Smith WFCE is the first
conservation agreement completed as
part of PFT’s Love Creek Working
Forests Project – an ongoing initiative
aimed at conserving threatened
working forests throughout this vitally
important region. t

World Resources Institute
Al
Gore
Al Gore,
Green Group
& Investors
Seek PFT
Insight
In April, PFT President Laurie Wayburn
participated in a climate summit led
by former Vice President Al Gore
and his colleagues from the Alliance
for Climate Protection, Generation
Investment Management and Kleiner
Perkins Caufield & Byers. Wayburn
discussed the role forests play in
climate change and how to incorporate
the power of forest conservation and
sustainable management into national
climate policies and solutions.
Wayburn also discussed forests and
their climate benefits with the Green
Group, a coalition of close to 30
national environmental groups active
on Capitol Hill that includes the Sierra
Club, the Wilderness Society, National
Resources Defense Council and the
Audubon Society.
In June, Managing Director Connie Best
will share PFT’s expertise on forest
carbon offset standards and projects
speaking at the Carbon Finance North
America 2008 conference in New York
City and the Timberland Investment
Summit in San Francisco. t
Cool Climate, Hot Commodity
Carbon Banking for Climate Benefits Gains Market Momentum
R ecent sales of the first forest-based
iemissions reductions (ERs)
certified under California’s new rules
are demonstrating that business, civic
and financial leaders are finding real
value in the climate benefits delivered
by working forests.
In February, global investor Natsource
Asset Management purchased 60,000
tons of certified carbon dioxide (CO2)
emissions reductions achieved from the
Van Eck Forest Project. Owned by the
Fred M. van Eck Forest Foundation, the
Van Eck Forest is 2,200 acres of working
redwood forestlands in Humboldt
County, CA that are sustainably
managed by the Pacific Forest Trust
(PFT) to deliver climate benefits
and high-quality timber products. A
conservation easement on the property
secures the permanence of the climate
benefits and the forest itself.
The sale represents an expansion from
the initial sales of Van Eck offsets that
were acquired by private individuals
and elected officials like California
Governor Arnold Schwarzenegger,
U.S. Speaker of the House Nancy
Pelosi and former California
Assembly Speaker Fabian
Núñez. Now demand for the
offsets is primarily coming from
commercial interests that are
recognizing working forests
can deliver true climate
benefits – and potentially
deliver a return on investment
to those seeking early entry
into the ever-growing
global carbon market.
The demand for certified
ERs from the Van Eck
Forest by corporate
4 5
and institutional investors reflects
their confidence in California’s Forest
Protocols, a set of rigorous accounting
standards used to measure and verify
the project’s carbon storage.
Developed for the California
Climate Action Registry in a broad-
stakeholder process led by PFT, the
Forest Protocols were adopted by the
California Air Resources Board as
one of the first approved, voluntary
early-action measures toward meeting
the state’s ambitious greenhouse gas
reduction goals. The Forest Protocols
are the first rigorous governmental
accounting standards in the U.S. for
climate projects that embrace forest
management and avoided deforestation;
ensure emissions reductions are real,
permanent and additional to what
forests already provide; and are verified
by an independent, third party.
In anticipation of the launch
of California’s regulatory and
comprehensive greenhouse
gas reduction
program in
2012,iiiii
theimarket and pricing for forest
emissions reductions projects in
the state reflects an evolution from
voluntary efforts to those required to
comply with the emissions goals set
forth under AB 32 legislation.
“Forestry can and should be an
important part of the portfolio of
climate change solutions moving
forward,” says Jack Cogen, Chief
Executive Officer of Natsource.
“This deal illustrates that when
rigorous, clear rules are adopted,
these investments can reduce costs
for our compliance customers and
provide what we believe are attractive
investment opportunities.”
“California’s strong standards for
forest climate projects are attracting a
whole new kind of investment,” notes
Connie Best, Managing Director
of the Pacific Forest Trust. “This
is great news for the environment,
for landowners and for the business
community. We are working with
many landowners who want to help
meet the growing demand for high-
quality offsets certified under the
Forest Protocols.”
Natsource, the largest purchaser
of carbon credits worldwide,
and major investment banks
such as Goldman Sachs,
Merrill Lynch, Citigroup and
Morgan Stanley are buying
into projects designed to cut
greenhouse gas emissions
and thereby are helping
fuel a global carbon market
that researchers at Point
Carbon estimate grew
80 percent, to nearly
$64 billion in 2007.
“We’re glad to see the finance and
business communities investing in
sustainable forestry,” says Derek van
Eck, Chairman of the Fred M. van
Eck Forest Foundation. “The funds
from these carbon transactions help
keep working forests like the Van Eck
profitable, ensuring economic as well
as environmental sustainability.”
The Van Eck Forest is managed by the
Pacific Forest Trust to permanently
reduce more than 500,000 metric tons
of CO2 emissions over a 100-year
period. Sales of emissions reductions
from the project have been of actual,
independently verified, additional
carbon stores that have been achieved
since the project was initiated in 2004.
Natsource’s purchase of Van Eck
ERs is the largest of several recent
commercial transactions from the
project. Other buyers include Meridian
Transportation Resources Western
(mtrwestern.com), which purchased
6,000 metric tons of Van Eck ERs to
help make its fleet of clean burning
vehicles “net carbon negative,”
and 3Degrees, which soon will be
offering Van Eck ERs to corporations
aiming to offset their CO2 emissions
(3degreesinc.com).
Two other companies will soon
make Van Eck Forest Project offsets
available for all to purchase at
the retail level. Green Mountain
Energy will offer Van Eck ERs to
individuals and others via their
Be Green Now online store
(begreennow.com). Sterling Planet,
another carbon neutrality provider,
will offer Van Eck ERs as part of a
diversified portfolio of carbon offsets
(www.sterlingplanet.com). t
PFT Convenes
Climate
Task Force
This spring, PFT assembled a task force
of top ecologists and economists to
shape a comprehensive strategy to
harness the climate benefits of U.S.
forests to help fight global warming.
Co-sponsored by the Nicholas School
of the Environment at Duke University
and the Cary Institute for Ecosystem
Services, the initial meeting of the
group included scientific experts from
the two co-sponsors, the U.S. Forest
Service, Woods Hole Research Center,
Harvard Forest and the universities of
Washington, Georgia, Wisconsin and
Oregon State.
Acknowledging that forest loss and
depletion is the second largest cause of
CO2 emissions,the group explored core
strategies for restoring forest carbon
stocks including: reducing forest loss
and depletion, restoring former forests,
increasing average volume of carbon per
acre and providing sustainable energy
stocks to substitute for fossil fuels. The
need to follow these strategies while
restoring forests’ natural resiliency and
adaptability also was a key focus.
The task force is now collaborating on
further research and will later prepare
their findings for publication. t

World Resources Institute
Al
Gore
Al Gore,
Green Group
& Investors
Seek PFT
Insight
In April, PFT President Laurie Wayburn
participated in a climate summit led
by former Vice President Al Gore
and his colleagues from the Alliance
for Climate Protection, Generation
Investment Management and Kleiner
Perkins Caufield & Byers. Wayburn
discussed the role forests play in
climate change and how to incorporate
the power of forest conservation and
sustainable management into national
climate policies and solutions.
Wayburn also discussed forests and
their climate benefits with the Green
Group, a coalition of close to 30
national environmental groups active
on Capitol Hill that includes the Sierra
Club, the Wilderness Society, National
Resources Defense Council and the
Audubon Society.
In June, Managing Director Connie Best
will share PFT’s expertise on forest
carbon offset standards and projects
speaking at the Carbon Finance North
America 2008 conference in New York
City and the Timberland Investment
Summit in San Francisco. t
Cool Climate, Hot Commodity
Carbon Banking for Climate Benefits Gains Market Momentum
R ecent sales of the first forest-based
iemissions reductions (ERs)
certified under California’s new rules
are demonstrating that business, civic
and financial leaders are finding real
value in the climate benefits delivered
by working forests.
In February, global investor Natsource
Asset Management purchased 60,000
tons of certified carbon dioxide (CO2)
emissions reductions achieved from the
Van Eck Forest Project. Owned by the
Fred M. van Eck Forest Foundation, the
Van Eck Forest is 2,200 acres of working
redwood forestlands in Humboldt
County, CA that are sustainably
managed by the Pacific Forest Trust
(PFT) to deliver climate benefits
and high-quality timber products. A
conservation easement on the property
secures the permanence of the climate
benefits and the forest itself.
The sale represents an expansion from
the initial sales of Van Eck offsets that
were acquired by private individuals
and elected officials like California
Governor Arnold Schwarzenegger,
U.S. Speaker of the House Nancy
Pelosi and former California
Assembly Speaker Fabian
Núñez. Now demand for the
offsets is primarily coming from
commercial interests that are
recognizing working forests
can deliver true climate
benefits – and potentially
deliver a return on investment
to those seeking early entry
into the ever-growing
global carbon market.
The demand for certified
ERs from the Van Eck
Forest by corporate
4 5
and institutional investors reflects
their confidence in California’s Forest
Protocols, a set of rigorous accounting
standards used to measure and verify
the project’s carbon storage.
Developed for the California
Climate Action Registry in a broad-
stakeholder process led by PFT, the
Forest Protocols were adopted by the
California Air Resources Board as
one of the first approved, voluntary
early-action measures toward meeting
the state’s ambitious greenhouse gas
reduction goals. The Forest Protocols
are the first rigorous governmental
accounting standards in the U.S. for
climate projects that embrace forest
management and avoided deforestation;
ensure emissions reductions are real,
permanent and additional to what
forests already provide; and are verified
by an independent, third party.
In anticipation of the launch
of California’s regulatory and
comprehensive greenhouse
gas reduction
program in
2012,iiiii
theimarket and pricing for forest
emissions reductions projects in
the state reflects an evolution from
voluntary efforts to those required to
comply with the emissions goals set
forth under AB 32 legislation.
“Forestry can and should be an
important part of the portfolio of
climate change solutions moving
forward,” says Jack Cogen, Chief
Executive Officer of Natsource.
“This deal illustrates that when
rigorous, clear rules are adopted,
these investments can reduce costs
for our compliance customers and
provide what we believe are attractive
investment opportunities.”
“California’s strong standards for
forest climate projects are attracting a
whole new kind of investment,” notes
Connie Best, Managing Director
of the Pacific Forest Trust. “This
is great news for the environment,
for landowners and for the business
community. We are working with
many landowners who want to help
meet the growing demand for high-
quality offsets certified under the
Forest Protocols.”
Natsource, the largest purchaser
of carbon credits worldwide,
and major investment banks
such as Goldman Sachs,
Merrill Lynch, Citigroup and
Morgan Stanley are buying
into projects designed to cut
greenhouse gas emissions
and thereby are helping
fuel a global carbon market
that researchers at Point
Carbon estimate grew
80 percent, to nearly
$64 billion in 2007.
“We’re glad to see the finance and
business communities investing in
sustainable forestry,” says Derek van
Eck, Chairman of the Fred M. van
Eck Forest Foundation. “The funds
from these carbon transactions help
keep working forests like the Van Eck
profitable, ensuring economic as well
as environmental sustainability.”
The Van Eck Forest is managed by the
Pacific Forest Trust to permanently
reduce more than 500,000 metric tons
of CO2 emissions over a 100-year
period. Sales of emissions reductions
from the project have been of actual,
independently verified, additional
carbon stores that have been achieved
since the project was initiated in 2004.
Natsource’s purchase of Van Eck
ERs is the largest of several recent
commercial transactions from the
project. Other buyers include Meridian
Transportation Resources Western
(mtrwestern.com), which purchased
6,000 metric tons of Van Eck ERs to
help make its fleet of clean burning
vehicles “net carbon negative,”
and 3Degrees, which soon will be
offering Van Eck ERs to corporations
aiming to offset their CO2 emissions
(3degreesinc.com).
Two other companies will soon
make Van Eck Forest Project offsets
available for all to purchase at
the retail level. Green Mountain
Energy will offer Van Eck ERs to
individuals and others via their
Be Green Now online store
(begreennow.com). Sterling Planet,
another carbon neutrality provider,
will offer Van Eck ERs as part of a
diversified portfolio of carbon offsets
(www.sterlingplanet.com). t
PFT Convenes
Climate
Task Force
This spring, PFT assembled a task force
of top ecologists and economists to
shape a comprehensive strategy to
harness the climate benefits of U.S.
forests to help fight global warming.
Co-sponsored by the Nicholas School
of the Environment at Duke University
and the Cary Institute for Ecosystem
Services, the initial meeting of the
group included scientific experts from
the two co-sponsors, the U.S. Forest
Service, Woods Hole Research Center,
Harvard Forest and the universities of
Washington, Georgia, Wisconsin and
Oregon State.
Acknowledging that forest loss and
depletion is the second largest cause of
CO2 emissions,the group explored core
strategies for restoring forest carbon
stocks including: reducing forest loss
and depletion, restoring former forests,
increasing average volume of carbon per
acre and providing sustainable energy
stocks to substitute for fossil fuels. The
need to follow these strategies while
restoring forests’ natural resiliency and
adaptability also was a key focus.
The task force is now collaborating on
further research and will later prepare
their findings for publication. t
 Broadcast News Love Creek Legacy Ensured
PFT Garners High-Profile Media Coverage Leading Family Owners Conserve Calaveras Working Forest

T he Pacific Forest Trust has attracted

unprecedented media coverage
this year with a series of high-profile
television, radio, newspaper, magazine
and web stories describing our work to
protect working forests and promote
their climate benefits.
The In May, our Van Eck Forest Project
Harneys was featured on National Public
Radio’s (NPR) Weekend Edition in a
story that was broadcast worldwide.
Greener Tea: The report features an in-the-forest
Harney & Sons interview with PFT President Laurie
Wayburn plus a “guest appearance” by
donate 1% two visiting Northern Spotted Owls. A
streaming version of the story can be
Magazine and can be viewed via a
link found at www.pacificforest.org/
news/media.html.
In March, PFT’s climate expertise
was featured on PBS’ long-running
NewsHour with Jim Lehrer. Laurie
Wayburn was interviewed and appears
on camera in a segment exploring
carbon offset markets. View the video
and read the transcript at www.pbs.
org/newshour/bb/environment/jan-
june08/carbon_03-06.html.
Also in March, the San Diego Union-
Tribune ran a story about forests and
their ability to hold and store carbon
in which it describes PFT’s Van Eck
L ove Creek Forest – a 413-acre
imixed-conifer working forest
located outside the town of Arnold
in Calaveras County, CA – has been
conserved through a partnership
with the Pacific Forest Trust (PFT),
the Sierra Nevada Conservancy and
the Smith family. Love Creek Forest
shares its boundaries with two Sierran
treasures – Big Trees State Park and
Stanislaus National Forest – and has
been managed sustainably under the
American Tree Farm System.
Private forests adjacent to publicly
protected parks are at high risk
of being converted to non-forest,
residential use due to their desirable
location. The Smith family, in fact, had
witnessed an ever-increasing number
of subdivisions rising up around their
property when, last year, they decided
it was time to act.
The Smiths entered into a working
forest conservation easement (WFCE)
agreement with PFT this past
December. The voluntary, yet binding,
arrangement guarantees Love Creek
Forest will forever remain a working
forest that delivers wood products,
water quality benefits and critical
wildlife habitat.
Larry
Now, the Smiths are considering a
forest management plan that also will
Smith

John Harney and his sons, Michael
and Paul Harney, have been in the
business of selling fine teas infused
with elegance since 1983. They’ve
made many innovations since entering
what once was a very traditional
industry, adding a wide array of new
products and, in the process, making
gourmet tea an “everyday luxury.”
They’ve also put a green twist on their
business model. By joining 1% for the
Planet, an alliance of more than 800
companies that give one percent of their
sales to environmental causes, Harney
& Sons Fine Teas is trying to minimize
the net impact their operations have on
the planet by supporting organizations
committed to sustainability.
“We support groups whose ideals we
admire and whose efforts are proving
effective,” says Harney. “PFT meets
these objectives.”
“We’re in a forested area and our
company sells a fair amount in the
Pacific states,” adds Harney. “And
since we appreciate conservation and
innovative climate solutions, PFT has
been a great fit for us.” t
found online at www.npr.org/templates/
story/story.php?storyId=90570215.
An early version of the piece with
commentary by international climate
consultant and PFT board member
Andrea Tuttle ran on KQED’s
California Report in April. That
version, along with photos of the
Van Eck Forest, can be accessed at
www.californiareport.org/archive/
R804280850.
The radio stories followed on the
heels of a special Earth Day story
in People magazine featuring PFT
founders Laurie Wayburn and Connie
Best. A PDF of the full-page story
– which depicts Wayburn and Best
as “Protectors of the Planet” – can be
viewed and downloaded on our website
at www.pacificforest.org/news.html.
Also in April, Yahoo! News’
Assignment Earth series ran a video
story entitled “Big Trees Fight Global
Warming” that features Wayburn
discussing Van Eck and forest
carbon. The segment is derived from
an earlier 2008 story in OnEarth
6 3
Forest Project as “the most notable” deliver climate benefits. The Smiths are
working forest being managed for its exploring the possibility of registering
climate benefits. the carbon dioxide (CO2) emissions
reductions achieved by their excellent
forestry with the California Climate
Action Registry.
“Not only are we protecting our
land from development, we have the
opportunity to manage our forest
to store more carbon and reduce
greenhouse gas emissions,” says Larry
Smith, the youngest Smith son and
current Love Creek Forest manager.
“We may be able to generate additional
revenue by practicing a method of
sustainable forestry that yields both
timber products and climate benefits
and we are just now starting to
investigate this option.”
In February, the landmark sale of 60,000
metric tons of emissions reductions The Smiths, who have owned
from Van Eck to Natsource Asset Love Creek Forest for more than
Management was covered by several 65 years, have long been involved
prominent media outlets including the in conservation efforts to protect
Wall Street Journal, Associated Press, Calaveras County’s natural resources
Reuters, Bloomberg News and the and public lands. In 1974 for
Sacramento Bee. Read stories from example, Dr. Ben Smith and his wife
these publications and others at www. Dutton – the original Smith family
pacificforest.org/news/media.html. t owners and Larry’s parents – were
“The working forest conservation
easement protects the property forever,
but allows flexibility in the way we
manage it,” says landowner Larry Smith
of the agreement with PFT.
active in creating the Calaveras
Big Trees Association, a volunteer
organization dedicated to preserving
and promoting Big Trees State Park.
The Smiths generously donated the
easement to the Pacific Forest Trust.
In doing so, the family was able
to take advantage of the expanded
federal income tax benefits that were
available through the end of 2007 and
that currently are being considered
for renewal by Congress. The Sierra
Nevada Conservancy, an agency of the
State of California, funded the project’s
transactional costs.
The Smith WFCE is the first
conservation agreement completed as
part of PFT’s Love Creek Working
Forests Project – an ongoing initiative
aimed at conserving threatened
working forests throughout this vitally
important region. t
 CSNM Project Receives Thank You
ForestLife Critical Federal Funding We gratefully acknowledge the following donors whose generous financial gifts
Forests for Work. Forests for Life. and pledges between November 2007 and April 2008 have helped make our work possible
Federal funding has been approved to transfer
The Newsletter of nearly 1,000 acres of biodiverse forestlands John K. Graham & Douglass & Katherine Raff Mission Point Capital Partners
Individuals
The Pacific Forest Trust now held by the Pacific Forest Trust (PFT) Michael & Susan Addison Katherine Munro James D. Range Pacific Gas & Electric Company
into public ownership for official inclusion Maria C. Alexander Kass Green & Gene Forsburg Bill Reynolds Port Blakely Tree Farms
Board of Directors in the Cascade-Siskiyou National Monument Judith E. Ayres & John Burke III H. Cort Gross & Jim Riley R&A Investment Forestry
Walter Sedgwick, Co-Chair (CSNM). The lands to be transferred connect Bill Banzhaf & Adela Backiel Mary Trombadore Bob Roberts Trillium Asset Management
Misty & Lewis Gruber Jeff Romm WM Beaty & Associates
Timothy N. Taylor, Co-Chair with old-growth stands owned by the Bureau Alvin Baum, Jr.
Perry Hagenstein Martin & Joan Rosen
Don Beaty
William W. Stelle, Jr., Vice-Chair of Land Management (BLM) and include a Eldon & Helen Beck Henry & Wells Hamilton Ted Rouse Foundations
Charles Swindells, Treasurer mile of the famed Pacific Crest Trail. BLM Cheryl Belcher David Hartwell & Leo Roy Bella Vista Foundation
Andrea E. Tuttle, Secretary
will purchase these in-holdings thanks Cynthia Beren Elizabeth DeBaut Tom & Nona Russell Compton Foundation
Laurie A. Wayburn, President Edwards Mother Earth Foundation
to the support of Oregon’s U.S. Senators Moe & Frances Beren Elizabeth Helmholz Susan & David Scannell
William H. Banzhaf Family Fund Gary Hendrix Bob Schofield John & Elaine French
Constance Best Ron Wyden and Gordon Smith, and U.S. Forrest & Marsha Berkley Maurice & Janice Holloway Walter & Jeanne Sedgwick Family Foundation
Norman L. Christensen, Jr. House Representative Peter DeFazio, who Senator John Bernstein Robert Hrubes Geoffrey Smith Richard & Rhoda Goldman Fund
O.H. Perry Lloyd together helped secure more than $860,000 Wyden Constance Best Bill Hutton Larry & Carla Smith Heller Charitable &
in federal grants.
Kirk Marckwald Doug Bevington Joe Kastner Peter & Nora Stent Educational Fund
Sally Bingham Marianna Kaufman & Ann & Ellis Stephens Henry P. Kendall Foundation
Timothy B. Pirrung
Diana M. Aleman Adam Stern Kongsgaard-Goldman Foundation
James D. Range “It is great to have the Pacific Forest Trust as a partner in efforts to conserve Lucy Blake & Steve Nightingale
William W. Keye Charlie Swindells Linden Trust for Conservation
Louis Blumberg &
Hal Salwasser land within the Monument,” says Senator Wyden. “The Monument’s unique Ellen Friedman Robert & Edie Kirkwood Robert H. Sydnor Lyndhurst Foundation
Gregory Tebbe biological diversity needs safeguarding, and a key step is working with the BLM Marion A. Boggs III & Clara Nancy Kittle Timothy & Billie Taylor Merck Family Fund
William Hutton, Counsel to acquire these important lands so that they will benefit the American people for Thomas Boggs Peter Kodzis Terri Thomas Gordon & Betty Moore Foundation
generations to come.” Anthony & Carol Boutard Kate Levinson & Stephen Costa George & Anita Thompson Moore Charitable Foundation
Mike Liquori Steve & Renee Thompson National Fish and
Staff Peter Boyer & Terry Gamble
PFT’s protection of a mile-long section of the Pacific Crest Trail in the CSNM has Allan & Marilyn Brown Samuel & Cindy Livermore Karie & David Thomson Wildlife Foundation
Laurie A. Wayburn, President Oregon Community Foundation
Perry & Tricia Lloyd William Laney Thornton &
Constance Best, Managing Director also led us to partner with Jeramy Villianos and Serena Becker who are hiking Magalen O. Bryant
Ruthanne Lorentzen Pasha Dritt Thornton David & Lucile Packard Foundation
Joseph Bunker
Randall Beren, Communications Director the entire 2,650-mile trail this spring to raise funds for wilderness conservation. Donald Miller Campbell Dan Luoma & Joyce Eberhart Eric & Stephanie Tilenius San Francisco Foundation
John Bernstein, VP Conservation PFT will receive a portion of the donations to the duo’s “Walk for Wildlands” Family Fund Ewan MacDonald Frank Tsai & Frances Town Creek Foundation
Ann Chan, California Policy Director
effort. Read more about their philanthropic journey at www.walkforwild.org. t Peggy C. Campbell Kirk Marckwald & Chris Desser Reynolds-Tsai William C. Kenney Foundation
Sally Ericsson, National Policy Representative Charles & Kristine Cardall Dan Martin Russell Turner & Elva Ortiz-Turner
Matt Fehrenbacher, Stewardship Forester Norman & Portia H. Christensen William & Janet McLennan Andrea & Don Tuttle In-Kind
Rachel Freund, Conservation Associate Tebbe & Marckwald Join PFT Board, Maribeth Collins Amy Meyer Steve Van Landingham & Acme Bread Company
Michael & Jeanne Adams/
Christine Harrison, Communications Manager Terry & Barbara Collins Douglas Miller Matthew O’Grady
Rachael Katz, Policy Associate Rosen to Help Build National Network Cherida Collins Smith & Mark Miller Kirby Walker & Paul Danielsen Ansel Adams Gallery
Wayne & Joan Miller Laurie A. Wayburn Back to Earth Catering
Peter Kodzis, Director of Finance & Admin.
We are pleased to welcome two new Glenn Smith
Martha Nelson & Cynthia Wayburn ESRI
Jessica Neff, Stewardship Associate Dave & Linda Cox
Sean O’Sullivan, Office/IT Manager
Board members, Gregory Tebbe and Kirk Michael Cummings Kristine Peterson Edgar Wayburn Frey Vineyards
Alex Page, Development Associate Marckwald. Tebbe recently retired after Henry & Vergilia Dakin Karla Nemeth Georgia Westdahl Harney & Sons Fine Teas
Kevin Raymond, Washington State Director working for 21 years in Goldman Sachs’ Peter Davis & Joan Irwin Jim & Lisa Nicol Bill Wilkinson Hayes Street Grill
Husch Vineyards
Jonathan Remucal, Stewardship Manager securities division. Marckwald is the founder Gwendolyn Dhesi & Alicia Nimer Torre &
Jonathan B. Nimer
Patrice Winchester
Kirke Wolfe Jeremiah’s Pick Coffee
Nirmal Singh
Emily Russell-Roy, Policy Associate of California Environmental Associates and Carl Ehlen Nancy Nordhoff Delphine Zeuli John Bentley’s Restaurant
Nicole Schuetz, Development Associate former Undersecretary of the California Theodore & Patricia Eliot John & Kari Novatney Lagunitas Brewing Company
Dale Thornburgh, Ph.D., Senior Forester
Resources Agency. James Ellis Edward O’Brien & Businesses McEvoy Ranch
(CA Registered Professional Forester #430) Patricia Hickey 3Degrees Navarro Vineyards and Winery
Eric Fenster
Steve Van Landingham, Development Director Autodesk Numi Organic Tea
Megan Wargo, Conservation Manager Marty Rosen, though no longer on the Board James P. Finerty William P. & Julie Parish
Peter & Julie Parker The Campbell Group Oak Hill Farm
Betsy & Jesse Fink
Jolanta Zakrzewski, Accountant due to term limits, will continue to assist Dwight & Joann Freund Judson M. Parsons The Collins Companies Ravenswood Winery
PFT by helping us build our national support John Fullerton Anne Pattee Ecohaus Saintsbury Winery
Editors: Randall Beren & Christine Harrison network. Rosen, an attorney and former Marty George C. Gaines & Mary Moore Anne Peterson Hancock Timber Resource Group San Francisco Hat Company
San Francisco Symphony
president of the Trust for Public Land, had George Peyton, Jr. Harney & Sons Fine Teas
Art Director: Randall Beren Rosen Lorraine Gallard
K&L Gates SOAR Inflatables
Holiday Phelan-Johnson &
served on the board since our inception. Thomas H. & Barbara Gaman
Christopher Johnson Lyme Timber Company Sports Basement
Alison Geballe
© 2008 The Pacific Forest Trust.
Thelma & Charles Gilmur Timothy & Ulrike Pirrung MMA Sustainable Peter Stent
All rights reserved.
Reproduction permitted with attribution. After nine years of dedicated service, Misty Gruber has also departed the Board. Laurie R. Gneiding & Donald Putnam & Susann Kellison Land Investments Sugar Bowl Ski Resort
She will, however, continue to work with us on conservation finance programs. t Michael J. Brady Mendocino Redwood Company Veritable Vegetable

2 7
Forest Fete 2008 Set for
Sept. 18 in San Francisco
Champions Honored at ‘07 Ceremony

L andowners win with woods.

iEnvironmentalists win with
woods. Investors win with woods.
Scientists, foresters, policymakers,
businesses, families and indeed all of
us win with the wood, water, wildlife
and the well-balanced climate provided
by America’s bountiful woodlands.
And so, in this election year, we are
pleased to announce that Forest Fete
2008 will be a special “conservation
convention” with the theme Everybody
Wins with Woods.
Scheduled three months earlier than
in the past, Forest Fete 2008 will take
place on Thursday, September 18th in
San Francisco. The evening will feature
a keynote speaker, live music, silent
auction and several surprises.
Please save the date and make your
plans to attend. Reservations can be
made online at www.pacificforest.
org/forestfete/forestfete08.html.
Speakers, sponsors and honorees will
also be listed on this web page as they
are announced.

While looking ahead to Forest Fete
2008, we also take this opportunity to
look back to Forest Fete 2007.
Generously supported by K&L Gates,
Pacific Gas & Electric Company and
others, Forest Fete 2007 paid tribute
Year for their model stewardship of
commercial forests in Washington and
Capitalizing on
Oregon. PFT Stewardship Forester Matt
Fehrenbacher was named Outstanding
Staff Member of the Year.

Terry Tamminen, former Cal-EPA

Forest Carbon
to our Evergreen & Evergiving forests Secretary and leading environmental Climate Benefits from Forests
and their champions. Mary Nichols, strategist, gave the keynote address. Begin to Bear Financial Fruit
Chair of the California Air Resources He praised PFT’s trailblazing Working
Board, received our Outside-the-Box Forests, Winning Climate program,
Carmen award for her support of the Forest proclaiming “Nobody is doing more for
CONVENIENT TRUTH
Ancinas
Port Blakely Protocols. Port Blakely Tree Farms the climate and the positive role forests PFT Participates in
was named Forest Champion of the can play than the Pacific Forest Trust.”t Gore’s Climate Summit
SUPER STEWARDS H
The Presidio
NONPROFIT ORG
Calaveras Landowners H
1001-A O’Reilly Avenue H
U.S. POSTAGE PAID
Conserve Sierran Forest
PR
San Francisco, CA 94129 H
SAN RAFAEL, CA
www.PacificForest.org PERMIT NO. 985
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