Peat Fields & Carbon Offsets Markets at the End of the World
Established in 2004 through a gift from the global investment bank Goldman Sachs, the Karukinka reserve is one of the largest donations ever made for conservation. Goldman Sachs has helped WCS design financial mechanisms to underwrite the costs of protecting the landscape in the long term. Karukinka serves as a model of how the private sector can get involved in conservation activities worldwide.
Spanning 1160 square miles, this protected area on the southern tip of Tierra del Fuego in the Patagonia region of Chile is a bountiful reserve of sub-Antarctic woodlands, peat bogs, windswept steppes, and snow-covered mountain ranges.
While peat lands represent a tiny portion of the earth compared to forests, they store double the amount of carbon. WCS is working to safeguard the peat bogs of Chile's Karukinka, and to sell carbon offsets to help guarantee their preservation.
Under current Chilean law, peat mining is considered separate from land ownership so that even though WCS owns the Karukinka property, they do not own the mining rights. Therefore, the rights can be purchased by another company and peat can be extracted, regardless of its carbon sequestration capacity.
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| Flattened ears and raised tails signal intense displeasure... |
THE GUANACO
Once these animals may have numbered over 40 million, dominating the landscapes of Patagonia. In the centuries, since guns came to South America, they’ve been reduced to fewer than a million. A LOSS OF 95%.
Once these animals may have numbered over 40 million, dominating the landscapes of Patagonia. In the centuries, since guns came to South America, they’ve been reduced to fewer than a million. A LOSS OF 95%.
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