United States: TotalEnergies Invests in Sustainable Forestry Operations to Preserve Sustainable Carbon Sinks
30 Août 2024 - 3:12PM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed a $100
million agreement with Anew Climate, a North American leader in
climate solutions, and Aurora Sustainable Lands, a
carbon-stewardship company and forest landowner in the U.S. to
deploy their projects aimed at protecting productive forests from
heavy timber harvesting, advancing conversion to sustainable
management practices, and enhancing their ability to store more
carbon from the atmosphere. The investment supports Improved Forest
Management (IFM) practices across a portfolio of 20 carbon
projects, covering 300,000 hectares in 10 states across the U.S.
(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 the carbon projects meet the highest standards of
additionality and durability.
The environmental benefits expected from this improved forest
management include the preservation of natural carbon sinks by
reducing timber harvesting, as well as water and soil quality
improvement, biodiversity protection and natural habitat
conservation. The carbon credits generated will be acquired by
TotalEnergies and retired beyond 2030. After prioritizing emission
avoidance and reduction, the Company will use these credits to
voluntarily offset part of its remaining direct Scope 1 & 2
emissions.
TotalEnergies supports the U.S government Voluntary Carbon
Markets Principles
TotalEnergies welcomes the Voluntary Carbon Markets Joint Policy
Statement and Principles guide issued by U.S. government on May 28,
2024. The Company’s actions in nature-based solutions are aligned
with these Principles, particularly those focused on integrity,
transparency and environmental protection (full document available
here).
"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. “TotalEnergies has
very positively received the U.S. government’s recently published
guiding principles on Voluntary Carbon Markets and is committed to
follow them to contribute to strengthening integrity and
transparency in these markets, as demonstrated by this
partnership.”
“Anew Climate is honored to partner with TotalEnergies on their
journey to reach carbon neutrality,” said Angela Schwarz, Anew
Climate CEO. “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 recognizing 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,” said
Jamie Houston, CEO of Aurora Sustainable Lands. “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.”
***
About TotalEnergies Nature Based Solutions As part of its
climate ambition, and in addition to its existing actions to avoid
and reduce emissions, TotalEnergies works with many local partners
around the world to develop and conserve natural carbon sinks,
while helping to preserve or improve their biodiversity. These
operations follow a long-term approach of sustainable and
integrated economic development of areas with local communities.
TotalEnergies plans to invest $100 million per year to build a
portfolio of projects capable of generating at least 5 million
metric tons of CO2e of carbon credits per year by 2030. These
carbon credits will be used after 2030 to offset the Company's
scope 1 & 2 emissions. Learn more with our TotalEnergies’
Sustainability and Climate 2023 – Progress Report
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, more sustainable, more reliable and
accessible to as many people as possible. Active in nearly 130
countries, TotalEnergies puts sustainable development in all its
dimensions at the heart of its projects and operations to
contribute to the well-being of people.
About Anew Climate Anew Climate, LLC, is a global leader
of diverse climate solutions built on the principles of
transparency and accountability. We bring innovative products and
services to the public and private sectors to help reduce or offset
their carbon footprints, restore the environment, and ensure our
clients’ investments create economic value as well as durable
climate impact. With deep market understanding, Anew leverages
technological and nature-based solutions to create value through
the generation and marketing of environmental credits for low
carbon fuel, carbon, renewable energy, and emissions markets. Anew
is majority owned by TPG Rise, TPG’s global impact investing
platform. The Company has offices in the U.S., Canada, Spain, and
Hungary and an environmental commodities portfolio that extends
across five continents. Learn more at www.anewclimate.com
About Aurora Sustainable Lands Aurora Sustainable Lands
is one of the world’s leading carbon removal platforms and
climate-focused asset managers. To date, Aurora has acquired over
1.7 million acres of U.S. forestland with a history of industrial
logging and now manages these lands with a carbon stewardship
management strategy that focuses on maximizing natural carbon
removal and storage potential. By actively managing with this
strategy and utilizing cutting-edge proprietary technologies,
Aurora taps into the oldest and most effective carbon removal tool,
trees, to offer nature-based carbon credits with unrivaled
reliability, durability, and quality and at an unprecedented scale.
Aurora is a joint venture between Anew Climate and a group of
equity investors led by Oak Hill Advisors, AB CarVal, EIG and
GenZero among other leading financial sponsors.
@TotalEnergies TotalEnergies TotalEnergies
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Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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