Thursday, May 29, 2008

As carbon market grows, law firms cash in

From the Boston Business Journal:

Local law firm Sullivan & Worcester LLP recently helped the Van Eck Forest Project in northern California -- where 2,200 acres of redwood trees will absorb 500,000 tons of carbon dioxide emissions over the next 100 years -- register those 500,000 tons of CO2 as carbon offset credits, the first ever in the state of California. The forest project administrators can, in turn, sell those credits.

"It was like found money," said John Graham, the tax attorney who handled the deal at Boston-based Sullivan & Worcester....MORE

Some of our previous posts on the topic:

Lawyers Embrace U.S. Climate Practice at $700 an Hour

Fighting climate change, one lawsuit at a time

Attention Attorneys: Hummer Tax Break on the Way Out (Maybe)

Lawyers preparing for explosion of climate-related work

Environmental law enters the era of global warming

Climate change offers business opportunities as a new law practice area

YUP. That's what the California Bar Journal used as their sub-head for this article.