TotalEnergies has signed an agreement with US-based carbon dioxide removal (CDR) developer NativState, providing support for sustainable forestry operations and investing in CO2 credits that will be delivered from 2030 onward.
The deal includes the conservation of forestland in areas across Arkansas, Louisiana, Mississippi, and Tennessee.
Covering a territory of approximately 247,000 acres, the sites included in the project have been selected due to their high risk of land conversion and heavy timber harvesting.
Aiming to combat harmful environmental practices in these areas, the collaborative project will work with landowners to help them unlock a new revenue stream from carbon credits through Improved Forest Management (IFM).
To ensure the credits generated through these activities meet international industry standards, NativeState is partnering with the American Carbon Registry (ACR), who will provide credit certification.
In detail, the initiative will cover 13 different IFM projects that will engage and work with 280 private family forest landowners.
Beyond unlocking a new source of revenue through the voluntary carbon market, participating landowners will also gain access to forestry education and technical support to implement sustainable practices in their forestry activities.
In turn, this effort is expected to prevent land conversion and heavy timber harvesting in high conservation value areas, while also boosting species diversity and preserving wildlife corridors, as well as improving streamside management.
For TotalEnergies, this collaboration with NativState is a way to provide support for protecting and enhancing natural carbon sinks while also delivering environmental and social benefits.
Relevant: TotalEnergies To Make $100M Investment In U.S. Forest Carbon Credits
The company will apply the carbon credits obtained through this deal towards its strategy for addressing Scope 1 and 2 emissions starting in 2030.
Headquartered in Arkansas, NativState will use this financial injection to scale its operations across the country.
NativState founder and CEO Stuart Allen commented, “We, at NativState, are honored and deeply grateful for our partnership with TotalEnergies and our forest landowner families, which creates extraordinary opportunities to build a lasting legacy for small forest landowners in our communities across the southern United States while supporting TotalEnergies in addressing the challenges of global energy markets.”
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