BAKU, Azerbaijan, August 30. TotalEnergies has entered into a $100 million agreement with Anew Climate, a leading North American climate solutions provider, and Aurora Sustainable Lands, a U.S.-based carbon-stewardship company and forest landowner, TurkicWorld reports.
This partnership aims to protect productive forests from intensive timber harvesting, promote sustainable management practices, and enhance the forests' capacity to absorb more carbon from the atmosphere.
The investment will support Improved Forest Management (IFM) practices across a portfolio of 20 carbon projects spanning 300,000 hectares in 10 U.S. states, including Arkansas, Florida, Kentucky, Louisiana, Michigan, Minnesota, New York, Virginia, West Virginia, and Wisconsin. Anew Climate and Aurora Sustainable Lands will oversee these projects, ensuring they meet the highest standards of additionality and durability.
The environmental benefits of these initiatives include preserving natural carbon sinks by reducing timber harvesting, improving water and soil quality, protecting biodiversity, and conserving natural habitats. The carbon credits generated by these projects will be acquired by TotalEnergies and held until after 2030. The company plans to use these credits to voluntarily offset part of its remaining direct Scope 1 and 2 emissions, after prioritizing emission avoidance and reduction.
