The American Forest Foundation issued its first Green Bonds in July to finance the Family Forest Carbon Program. The program provides incentive payments to individual landowners in Central Appalachia to encourage the reduction of timber harvests and promote the growth of mature forests as a means to reduce CO2 emissions significantly over the contract periods. All projects and carbon offsets generated as a result of the changes in management practices will be verified under an approved methodology and certified by Verra. Kestrel provided a Second Party Opinion on the Green Bonds which align with the Environmentally Sustainable Management of Living Natural Resources project category in the Green Bond Principles.