Chugach Alaska Corporation.

• Position: Inside Alaska Business

Chugach Alaska Corporation announced it will sell Its Bering River coal rights to New Forests, a sustainable forestry and conservation investment manager. New Forests will retire those rights by transferring them to The Nature Conservancy and the local Native Conservancy land trust, while generating revenue through the California cap-and-trade carbon market.

The Bering River Coal Field is located approximately fifty miles southeast of Cordova. Chugach was conveyed 73,000 acres of land and mineral rights comprising a large portion of the Bering River Coal Field in 1983, pursuant to the Alaska Native Claims Settlement Act. This announcement represents a critical step towards achieving the objectives laid out in Chugach's One...