TotalEnergies invests in sustainable forestry to preserve sustainable carbon sinks
TotalEnergies has signed a $100 million agreement with Anew Climate, a leading North American provider of climate solutions, and Aurora Sustainable Lands, a carbon management company and forest owner in the USA, to implement their projects aimed at protecting productive forests from heavy timber harvesting, driving the shift to sustainable management practices and improve their ability to store more carbon from the atmosphere. The investment supports Improved Forest Management (IFM) practices across a portfolio of 20 CO2 projects spanning 300,000 acres in 10 U.S. states (Arkansas, Florida, Kentucky, Louisiana, Michigan, Minnesota, New York, Virginia, West Virginia and Wisconsin). Anew Climate and Aurora Sustainable Lands will provide operational oversight to ensure that CO2 projects meet the highest standards of additionality and sustainability.
The environmental benefits expected from this improved forest management include maintaining natural carbon sinks by reducing timber harvesting, improving water and soil quality, protecting biodiversity, and maintaining natural habitats. The generated carbon credits are taken over by TotalEnergies and paid out after 2030. After prioritizing avoiding and reducing emissions, the company will use these credits to voluntarily offset some of its remaining direct Scope 1 and Scope 2 emissions.
TotalEnergies supports the US government's voluntary CO2 market principles
TotalEnergies welcomes the “Voluntary Carbon Markets Joint Policy Statement and Principles Guide” published by the US government on May 28, 2024. The company's measures in the area of nature-based solutions are based on these principles, in particular those that focus on integrity, transparency and environmental protection (the full document can be found here).
We are delighted to work with such experienced specialists as Anew Climate and Aurora Sustainable Lands, who are developing high-quality projects to sustainably conserve natural carbon sinks, which is essential to achieve climate neutrality,” said Adrien Henry, Vice President Nature Based Solutions at TotalEnergies Exploration & Production. “TotalEnergies has received the Guiding Principles for Voluntary Carbon Markets recently published by the US government very positively and is committed to following them to help strengthen integrity and transparency in these markets, as this partnership shows.
Anew Climate is honored to work with TotalEnergies on their journey to climate neutrality,” said Angela Schwarz, CEO of Anew Climate. “Since we worked closely with the TotalEnergies Nature Based Solutions team throughout the rigorous due diligence process, it was clear that their commitment to avoid and reduce emissions as a first principle and at the same time recognized the benefits of investing in meaningful CO2 projects as part of a comprehensive climate protection strategy was a perfect fit for Anew's mission. We agree that a strategy that takes into account all of the above aspects is needed to achieve tangible effects on climate change.
Aurora's responsible use of carbon increases resilience to climate change while protecting vital ecosystems in our forest areas,” said Jamie Houston, CEO of Aurora Sustainable Lands. “Thanks to TotalEnergies' unwavering trust and investment in our entire portfolio, we are able to maintain the delicate balance between forest health, soil quality, watersheds and wildlife habitats. Together, we are achieving significant and lasting effects on the climate
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