Spotted: In the US, approximately seven million acres of land are burned by wildfires each year, and global warming is increasing the risk of very large fires. At the same time, not enough resources are being allocated to reforesting the areas that are lost to the flames, and there is an overall lack of seeds, nursery capacity, planting capacity, and funding. Mast Reforestation is tackling all of these issues with a first-of-its-kind innovation in carbon financing.
Woolsey McKernon, who is the Chief Revenue Officer and Head of Capital Markets at Mast Reforestation, explained to Springwise that the startup is “the only vertically integrated reforestation company that combines cutting-edge technology and traditional forestry practices to restore forests lost from wildfire, funded through the sale of carbon credits.”
Through its subsidiaries Silvaseed and Cal Forest Nurseries, Mast manages the majority of tree seed supplies and seedlings in the western 11 states of the US, effectively streamlining the forestry supply chain for over 30 million seedlings. Mast’s end-to-end solution provides everything from cone collection and satellite mapping of a burnt area to carbon credit financing, making it possible to significantly scale reforestation efforts.
McKernon told Springwise that the company is currently focused on the sale and deployment of its reforestation-based carbon removal credits, which enables the company to pay for reforestation and generate a financial return for landowners. Over the next three years, Mast hopes to create thousands of jobs and plant millions of trees.
Forests have been called the “lungs of the planet”, but there is growing concern about their rate of loss. This has spawned a number of innovations, including the use of satellites to prevent wildfires and a programme that pays people to plant and maintain trees.
Written By: Lisa Magloff