Heritage Sustainability and ClimeCo’s Capitalization of Restore the Earth

Ballard Spahr advised ClimeCo on the deal.

Heritage Sustainability Investments, LLC, a subsidiary of The Heritage Group and affiliate of Heritage Environmental Services, LLC, and ClimeCo joined together to provide strategic capital to Restore the Earth Foundation, Inc. (Restore the Earth) to provide for the native trees and planting for the reforestation of 4,000 acres of the Pointe-aux-Chenes Wildlife Management Area in Louisiana. The freshwater marsh area will be planted with native Bald Cypress seedlings. In addition to the sequestration of CO2, the project will reduce flood and storm risk to local communities by creating a first line of defense in the form of healthy forest ecosystems and restore fragmented wildlife habitats. The project is anticipated to create 800,000 Climate Action Reserve Forward Mitigation Units (FMUs).

Restore the Earth pioneered the development of the Climate Action Reserve’s Climate Forward Reforestation methodology. The program provides a mechanism to quantify, verify and register FMUs, which represent emissions that are forecasted to be mitigated in the future, using rigorous and peer–reviewed carbon reduction project methodologies. FMUs will be marketed to voluntary buyers by ClimeCo to help fund future reforestation efforts in the basin. The program is designed to encourage companies and organizations to invest in projects that mitigate future greenhouse gas (GHG) emissions.

Heritage Sustainability Investments, LLC, is a subsidiary of The Heritage Group and affiliate of Heritage Environmental Services, LLC. 

ClimeCo is a respected advisor, transaction facilitator, and trader of environmental commodity market products.

Restore the Earth Foundation, Inc. is a 501(c)(3) not for profit with a mission of restoring the Earth’s essential forest and wetland ecosystems.

The Ballard Spahr team included Philadelphia-based attorneys Brendan Collins (Picture), Richard Hudock, and Erin Carter.

Involved fees earner: Erin Carter – Ballard Spahr Stillman & Friedman LLP; Brendan Collins – Ballard Spahr Stillman & Friedman LLP; Richard Hudock – Ballard Spahr Stillman & Friedman LLP;

Law Firms: Ballard Spahr Stillman & Friedman LLP;

Clients: ClimeCo;

Martina Bellini

Author: Martina Bellini