TotalEnergies has entered into a $100 million agreement with Anew Climate, a North American leader in climate solutions, and Aurora Sustainable Lands, a US-based carbon stewardship company and forest landowner. This partnership aims to implement projects designed to protect productive forests from intensive timber harvesting, promote the adoption of sustainable management practices, and enhance the forests’ capacity to sequester more carbon from the atmosphere.
The investment will support Improved Forest Management (IFM) practices across 20 carbon projects, spanning 300,000 hectares 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 oversee operations to ensure the projects meet the highest standards of additionality and durability.
The anticipated environmental benefits of these improved forest management practices include the preservation of natural carbon sinks by reducing timber harvesting, as well as improvements in water and soil quality, biodiversity protection, and the conservation of natural habitats. The carbon credits generated will be purchased by TotalEnergies and retired after 2030.
“We are thrilled to partner with such experienced specialists as Anew Climate and Aurora Sustainable Lands, who develop high-quality projects aimed at the sustainable preservation of natural carbon sinks which is essential to achieve carbon neutrality,” said Adrien Henry, Vice President Nature Based Solutions at TotalEnergies Exploration & Production.
Angela Schwarz, Anew Climate CEO said, “As we worked closely with the TotalEnergies Nature Based Solutions team throughout the stringent due diligence process, it was clear that their commitment to avoiding and reducing emissions as a first principle while recognising the co-benefits of investing in meaningful carbon projects as part of a comprehensive climate action strategy aligned perfectly with Anew’s mission. We have a shared belief that an ‘all of the above’ strategy is required to achieve meaningful climate impact.”
“Aurora’s carbon stewardship enhances climate resilience while safeguarding vital ecosystems across our forestlands. Thanks to TotalEnergies’ steadfast trust and investment across our portfolio, we can maintain the delicate balance between forest health, soil quality, watersheds, and wildlife habitats. Together we are yielding substantial and lasting climate impact at a massive scale,” said Jamie Houston, CEO of Aurora Sustainable Lands.