Nature-based CO2 removal developer Chestnut Carbon has locked in a multi-year carbon credits sales agreement with TD Bank, one of the largest financial institutions in North America.
Under the agreement, Chestnut will deliver credits from its Improved Forest Management (IFM) operations over a period of four years.
For TD Bank, this deal contributes towards the institution’s efforts of voluntarily compensating for greenhouse gas emissions released from its operations, including business travel.
The bank will utilize the capacities of its subsidiary TD Securities to collaborate closely with Chestnut Carbon and provide clients with access to IFM carbon credits.
Nicole Vadori, Vice President, Environment at TD Bank, stated, “This agreement reflects our commitment to investing in innovative, nature-based solutions that help our clients and our own operations navigate the transition to a low carbon economy.”
Through its Forest Carbon Works membership program, Chestnut partners with landowners in 37 U.S. states, who leverage privately owned, at-risk forests to pull atmospheric CO2 emissions and generate credits via improved forest management practices.
The generated credits are backed by a team of expert foresters, carbon scientists, and land managers who are working on preserving natural ecosystems and delivering benefits for local communities.
Beyond the carbon removal impact, Chestnut’s IFM projects also contribute towards enhanced air and water quality, as well as native wildlife habitat protection and improved climate resilience in mostly rural areas.
Relevant: Chestnut Carbon Raises A Quarter Billion In Series B After An Additional Funding Round
In February 2025, Chestnut issued the first batch of credits from its IFM projects, delivering more than 64,000 credits that were sold for $2.2 million to various corporate buyers, including JPMorgan Chase.
Commenting on the sales agreement with TD Bank, Shannon Smith, Chief Commercial Officer at Chestnut Carbon, shared:
“We’re proud to have TD as a buyer and support advancement of their decarbonization goals. By investing in our Improved Forest Management carbon project, TD is helping support climate resilience and biodiversity. Our clients help us work with landowners to preserve their forests for generations to come.”
Read more: JPMorgan To Provide Pioneering Financing For Chestnut Carbon’s Afforestation Operations
