The Nicaragua Precious Woods Project supports the generation of 297,045 tons of carbon dioxide emission reductions by the year 2017 through reforesting 600 hectares of privately owned degraded agricultural lands in southern Nicaragua (Component 1). In addition, within the same land and as part of this project, the project's aim is to conserve approximately 350 ha of secondary forest and mature trees, for which it will not claim carbon credits from the BioCarbon Fund. The project will also create a sustainable source of valuable wood for national and international markets, thereby reducing the pressures on natural forests. The project will thus bring about carbon sequestration as well as benefits to ecological, wildlife, and landscape diversity. This will enable sustainable, income-generation options for poor and vulnerable communities.