Chestnut Carbon has entered into a multi-year agreement to supply Improved Forest Management (IFM) carbon credits to TD Bank, one of North America’s largest financial institutions. The credits will be delivered over a four-year period as part of TD’s efforts to offset operational greenhouse gas emissions, including those from business travel.
The IFM credits are generated from privately owned, at-risk forests across the United States. According to Chestnut, the projects are designed to preserve ecosystems, enhance biodiversity, and improve air and water quality. The company partners with landowners through its Forest Carbon Works membership programme, currently active in 37 states, offering revenue-sharing opportunities that provide an alternative to timber harvesting.
In addition to conserving forests, some landowners use the preserved areas for community-based initiatives such as nature walks and cultural events.
TD Securities plans to collaborate further with Chestnut Carbon to make similar credits available to its clients through its Sustainable Finance & Advisory platform, which focuses on supporting the low-carbon transition.
“We’re proud to have TD as a buyer and to support advancement of their decarbonisation goals,” said Shannon Smith, Chief Commercial Officer at Chestnut Carbon. “By investing in our Improved Forest Management carbon project, TD is helping support climate resilience and biodiversity.”
Nicole Vadori, Vice President, Environment at TD Bank, added: “This agreement reflects our commitment to investing in nature-based solutions that help our clients and our own operations navigate the transition to a low-carbon economy. We’re honoured to work with Chestnut Carbon on projects that benefit both the environment and local communities.”
