ACRE Investment Management has announced the launch of its new platform, Oyster Carbon Company, which aims to plant six million oysters in the Chesapeake Bay at Urbanna Creek, Virginia, approximately 60 miles east of Richmond. This initiative, fully funded by ACRE—Advanced Carbon Restored Ecosystem—forms part of a larger project expected to restore 100,000 acres and sequester nearly 10 million tons of carbon. The effort utilizes a climate finance model aimed at mitigating climate change.
Oysters play a critical role in removing pollutants and absorbing CO2, storing carbon in their shells. They also enhance water quality and maintain a balanced aquatic environment as the reefs provide essential habitats for diverse marine life, with each oyster capable of filtering up to 50 gallons of water daily. The project is set to create local jobs in oyster farming and reef restoration.
Earlier this year, ACRE’s GreenTrees platform received 1.52 million carbon credits for the 2021-22 growing seasons, raising its lifetime total to nearly 7.8 million tons since 2003—equivalent to the annual emissions of 1.5 million passenger vehicles, making GreenTrees the largest carbon removal project globally, according to Climate Focus.
ACRE co-founder and president Chandler Van Voorhis said, “Climate change has wreaked havoc on the Chesapeake Bay, where there used to be enough oysters to recycle all 18 trillion gallons of water every few days. Unfortunately, it currently takes more than 400 days to filter the Bay’s water, something we aim to change with this project. We believe in harnessing the power of nature to address issues of climate, water, and biodiversity. The oyster project is a powerful example of how climate finance can create ripple impacts in local economies, water, and biodiversity.”
ACRE aims to restore one million acres of hardwood ecosystems in the Mississippi Delta, 500,000 acres of longleaf ecosystems, 100,000 acres of oyster habitats in the Chesapeake Bay, and 600,000 acres of river buffers in Virginia. Founded in 2003, ACRE combines scientific research with advanced carbon measurement techniques to ensure measurable benefits for both the environment and local communities.
