Q: What is the Monterey Bay Carbon Fund?
A: The Monterey Bay Carbon Fund (MBCF) is a nonprofit fund that directs money to renewable energy projects at Monterey Bay schools and nonprofits, as well as other local GHG emission reduction projects approved by The Offset Project (TOP) and Monterey Bay Regional Climate Action Compact . The MBCF program gives individuals and organizations in the Monterey Bay region the opportunity to invest their dollars in the community while addressing their own carbon emissions and advancing sustainability goals. Instead of purchasing renewable energy credits (RECs) and carbon offsets from out of state sources and investing in faceless projects and companies in far away places, individuals and businesses can share in the pride of investing in local projects and seeing their dollars at work right here in the Monterey Bay community. The MBCF’s mission is to provide a program that benefits the Monterey Bay community by 1) reducing local GHG emissions, 2) accelerating the adoption of renewable energy technology, 3) creating jobs and new educational opportunities in the renewable energy field, and 4) keeping local dollars in our own community.
Q: What is the partnership between TOP and the Climate Action Compact in managing MBCF?
A: The partnership between TOP and the Climate Action Compact was established in July of 2011 to strengthen the accessibility and marketability of a localized carbon fund in the community. TOP is responsible for certified products and the partnership between TOP and the Climate Action Compact (outlined in the Strategic Report) manages community contributions. The community contributions component of MBCF will be launched in September, 2012.
Q: What is unique about the Monterey Bay Carbon Fund?
A: MBCF is the only option of its kind in the Monterey Bay Region. This pioneering program will unite the community through true private-public partnerships that allow local entities to address carbon emissions and renewable energy generation, while creating local green jobs and educational opportunities, driving new investments in local infrastructure projects, conserving precious resources, and saving money for local schools and non-profit organizations. In the past, companies have purchased offsets or supported offset projects that were not local because a local alternative did not exist. Now it does. Our goal is to create a sustainable approach that starts with reducing local carbon emissions, invests in local solar photovoltaic systems, and results in local green job creation and economic development.
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