TotalEnergies Commits $100 Million to U.S. Sustainable Forestry and Carbon Sequestration Initiatives

TotalEnergies Commits $100 Million to U.S. Sustainable Forestry and Carbon Sequestration Initiatives

(IN BRIEF) TotalEnergies has invested $100 million in a partnership with Anew Climate and Aurora Sustainable Lands to support sustainable forestry practices across 300,000 hectares in the U.S. The initiative aims to reduce timber harvesting, enhance carbon sequestration, and improve environmental quality, aligning with the U.S. government’s Voluntary Carbon Markets Principles. The carbon credits generated will help TotalEnergies offset its direct emissions as part of its carbon neutrality strategy. This partnership underscores TotalEnergies’ commitment to environmental sustainability and responsible climate action.

(PRESS RELEASE) PARIS, 31-Aug-2024 — /EuropaWire/ — In a significant move towards environmental sustainability, TotalEnergies has entered into a $100 million partnership with Anew Climate and Aurora Sustainable Lands, two leading North American organizations specializing in climate solutions and sustainable forestry management. This investment is aimed at advancing Improved Forest Management (IFM) practices across 300,000 hectares of forest land spread across 10 U.S. states, including Arkansas, Florida, and New York, among others.

The collaborative effort will focus on reducing intensive timber harvesting, promoting sustainable forestry practices, and enhancing the capacity of these forests to act as carbon sinks. This initiative not only supports carbon sequestration but also aims to improve water and soil quality, protect biodiversity, and conserve natural habitats. The carbon credits generated from these efforts will be purchased by TotalEnergies and held until after 2030, as part of the company’s broader strategy to offset its remaining direct emissions (Scope 1 & 2).

TotalEnergies’ commitment aligns with the U.S. government’s recently issued Voluntary Carbon Markets Principles, which emphasize integrity, transparency, and environmental protection in carbon markets. Adrien Henry, Vice President of Nature-Based Solutions at TotalEnergies, emphasized the importance of these principles and expressed confidence in the partnership with Anew Climate and Aurora Sustainable Lands.

Angela Schwarz, CEO of Anew Climate, highlighted the alignment of TotalEnergies’ climate strategy with Anew’s mission, focusing on a comprehensive approach to achieving carbon neutrality. Jamie Houston, CEO of Aurora Sustainable Lands, underscored the significant climate impact that will be achieved through this large-scale initiative, which also safeguards critical ecosystems.

This partnership represents a strategic investment by TotalEnergies in sustainable forestry, reinforcing the company’s commitment to carbon neutrality and environmental stewardship.

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.

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. TotalEnergies SE has no liability for the acts or omissions of these 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 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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SOURCE: TotalEnergies