Takeaways

• Great Bear Carbon, a 100% Indigenous-owned organization representing seven First Nations, is managing a vital conservation finance initiative across over 3 million hectares of coastal British Columbia.
• The project, active for over 15 years, has successfully transitioned its carbon offsets from the voluntary market into British Columbia’s higher-value compliance market (Output-Based Pricing System).
• This move to the compliance market provides higher, more stable prices, ensuring stronger economic returns that support the First Nations' long-term stewardship of the globally significant Great Bear Rainforest.

Joseph Pallant, CEO of Great Bear Carbon Credit Corporation, is spearheading one of the world's most significant Indigenous-led conservation finance projects: A massive carbon credit initiative spanning over three million hectares along the coast of British Columbia.

Pallant recently discussed the project's new phase with ESG News CEO Matt Bird, highlighting its unique blend of environmental stewardship, Indigenous leadership, and financial innovation.

A New Chapter in Indigenous-Led Conservation

Great Bear Carbon is a foundational organization in the climate finance sector, being 100% Indigenous-owned and representing seven distinct First Nations. The lands managed under this initiative form the core of the Great Bear Rainforest, one of the planet's most ecologically rich and culturally important forest ecosystems. For over 15 years, these Nations have been preserving their old-growth forests and coastal landscapes, generating carbon offsets under the BC Carbon Standard to support global climate stability and biodiversity.

The sheer scale of the project is staggering: It safeguards approximately three million hectares of forests and habitats, an area larger than the country of Belgium. Pallant stressed that this is more than an environmental undertaking; it is a critical social and cultural asset, demonstrating profound Indigenous leadership in climate action.

Read More: Singapore to Offset Emissions with Rwanda Carbon Credits Deal

Transition to the Compliance Market

The project has now reached a crucial milestone: Shifting from selling credits into the voluntary carbon market to entering the compliance market via British Columbia’s Output-Based Pricing System (OBPS). This move represents a major financial and developmental step for the involved Nations.

Compliance markets are known for offering higher and more stable prices for credits, which translates directly into stronger economic returns for the communities dedicated to long-term land protection and stewardship.

"Our prices have gone up substantially," Pallant explained. "This allows us to do a better job paying the Nations for their protection and stewardship of this landscape." This increased financial stability ensures the long-term viability of the conservation efforts across this globally significant landscape.

Integrity and Expertise

Bringing over 21 years of experience in carbon markets, Pallant’s leadership is focused on integrity and ensuring that the First Nations are the primary beneficiaries of the finance tied to their ancestral lands.

He praised the ongoing innovation within the climate finance sector, noting the emergence of new transparency tools and exchange products designed to bring higher-quality, verifiable carbon projects to market. Pallant’s vision is to leverage this innovation to further solidify the Great Bear Carbon project’s reputation as one of the most compelling and robust conservation initiatives globally. The commitment to strong governance and sustainable benefits for the local communities remains central to the project's success.

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Source: ESG NEWS