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Lower Manhattan’s Local Newspaper

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Shady Deal

Governors Island Project Advances Carbon-Capture Measurement

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The Hammock Grove on Governors Island, a ten-acre experimental urban forest with more than 1,300 trees, will host a two-year field test of technology by Chestnut Carbon, which quantifies the climate-change mitigation effects of woodland environments.

The Trust for Governors Island is partnering with a New York-based climate change technology firm to refine measurements of how nature-based carbon removal works in an urban setting. Founded in 2022 (and based in the Meatpacking District), Chestnut Carbon specializes in “afforestation” – the process of cultivating woodlands on land that has not been forested for many decades, thus converting barren or idle acreage into new tree groves. The company’s program has planted more than 46 million trees on 70,000-plus acres across nine states in the southeastern United States. This is the equivalent of five times the area of Manhattan. The program’s goal is to remove 100 million tons of carbon from the atmosphere during the lives of these trees.


In addition to planting saplings, Chestnut Carbon also monitors their contribution to climate-change mitigation, with its proprietary Measurement, Reporting, and Verification (MRV) technology. This platform relies on monitoring via a smartphone app to gauge each tree’s height, health, and mortality, while also identifying its species and quantifying it carbon-sequestration performance. The data not only improves land management of the forest, but also gives users access to verifiable (and auditable) accounts that can be bought, sold, and traded in carbon-credit markets. Chestnut Carbon monitors forests for U.S. landowners in 37 states.


Although forests are known to be the single most prodigious carbon-removal mechanism in the world (far outpacing any human-devised system), the lack of tools for precisely measuring their climate benefits has been a crucial roadblock to scaling up investment in the sector.


On Governors Island, Chestnut Carbon is working with Trust’s horticulture and landscaping teams to establish several research plots in Hammock Grove, a 10-acre experimental urban forest with more than 1,300 trees. For the next two years, the Chestnut team will use MRV platform to study the performance of native tree species, and compile an accurate data set about their impact on the local environment. In addition, the company will plant chestnut trees in the grove. 


“Chestnut Carbon supports the restoration and conservation of forestland across the country for long-term carbon sequestration, enabled by their unique technology and innovative business model,” said Lauren Wang, director of climate programs at the Trust for Governors Island.


Sarah Ford, the chief forestry officer at Chestnut Carbon, added, “this pilot will deepen our understanding of carbon sequestration and ecosystem benefits in an urban forest setting while advancing the science of nature-based carbon removal.”


Matthew Fenton

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‘A Simple Strategy’

Hedge Fund Manager Headquartered in World Trade Center Arrested for Fraud


The founder of a hedge fund based in Lower Manhattan has been arrested by the FBI and charged by federal prosecutors with securities fraud and wire fraud. On September 9, federal agents executed a warrant at the offices of the hedge fund Oraclum Capital, located on the 85th floor of One World Trade Center, taking into custody chief executive officer Vuk Vukovic. In a criminal complaint filed with the U.S. District Court in Lower Manhattan, FBI agent Babatunde Adediran alleges that Mr. Vukovic and Oraclum kept two sets of books. Read more...

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DOWNTOWN CALENDAR

Thursday, October 1

1pm-3pm

Fiber Art Crafts Studio

200 Rector Place

Bring your projects, which can include—but are not limited to—knitting, crocheting, embroidery and small-loom weaving. Free.


3pm-3:45pm

Rugby Clinic

BPC Ball Fields

Rugby demonstration, skill and drills, and non-contact scrimmages, for ages 3 to 6. At 3:45pm, join coaches for a rugby clinic for ages 7 to 12. Registration recommended. Free.


6pm

25 Years Later: Reflections of a Generation

9/11 Memorial & Museum

In August 2001, CUNY’s Macaulay Honors College welcomed its first class, just weeks before the September 11 attacks reshaped New York City and the nation. Alumni will discuss how coming of age in New York during a time of profound loss and resilience has influenced how they understand service, community, and their roles in the world today. Free.


6pm

Fresh Prints

South Street Seaport Museum, 213 Water Street

Visitors may use historic printing equipment. Advance registration is advised. $5.


6pm

The Novel Detective

Mysterious Bookshop, 58 Warren Street

Reading by Teresa Dovalpage, author of The Novel Detective.


6pm

Julia Easterlin

Perelman Performing Arts Center

Vocalist, songwriter, and multi-instrumentalist Julia Easterlin pairs inventive musicianship with the earthy storytelling of her upbringing along Georgia’s Ogeechee River. Free.


7pm

Ghosts of a Holy War

Museum of Jewish Heritage, 36 Battery Place

When a family in Memphis, Tennessee, discovers a box of century-old letters in their attic, a journey begins: not only to learn about the young man who wrote the letters from the holy city of Hebron in British Mandate Palestine, but about the massacre that took his life in 1929. This meticulously researched examination of the Israel-Palestine conflict’s origins interweaves historical analysis with contemporary insights, providing crucial context for understanding today’s Middle East tensions. $10 suggested donation.

Friday, October 2

1pm-7pm

Mid-Autumn Festival Market

Gotham Park, adjacent to the Brooklyn Bridge

The market celebrates the community, small businesses, makers, and talented artists of Chinatown.


5:30pm

Outdoor Pilates

Wagner Park

Join Club Pilates in a series of controlled movements that emphasize proper form and breathing techniques to strengthen and improve flexibility in the core, back, and lower body. For 16+. Free.


6pm

Gene Shinozaki

Perelman Performing Arts Center

Experience the possibilities of the human voice with Gene Shinozaki, an internationally acclaimed beatboxer known for pushing the art form far beyond the beat. Free.


7pm

New Works: Aimee Nezhukumatathil, Joseph O. Legaspi, Noel Quiñones, and Grace Yanucci

Poets House, 10 River Terrace

Readings of new works by poets. Free.


7pm

Puppet Up!

Tribeca Performing Arts Center, 199 Chambers Street

Brian Henson’s Puppet Up! combines “the magic of first-rate Henson-style puppetry and the ribald joy of comedy” (San Francisco Chronicle). Dozens of Henson puppets are brought to life by a cast of world-class puppeteers and comedians from The Jim Henson Company that sing, dance, and improvise throughout this night of outrageous improv and sketch comedy for adults. $57+.

FROM THE BROADSHEET ARCHIVES

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October 2015 © Robert Simko

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