TotalEnergies Invests $100MM in NA Sustainable Forestry Operations

TotalEnergies SE is investing $100 million in sustainable forestry operations in North America.

The Paris-based energy company has signed an agreement with climate solutions firm Anew Climate and U.S. carbon stewardship company Aurora Sustainable Lands. The agreement is for the deployment of projects targeting to protect productive forests from heavy timber harvesting, advance conversion to sustainable management practices, and enhance their ability to store more carbon from the atmosphere.

TotalEnergies said the investment supports improved forest management (IFM) practices across a portfolio of 20 carbon projects, covering 300,000 hectares in 10 states across the USA: 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, according to the release.

TotalEnergies outlined that 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 said it plans to use the credits to voluntarily offset part of its remaining direct Scope 1 and 2 emissions.

"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,” Adrien Henry, Vice President Nature Based Solutions at TotalEnergies Exploration and Production, said. “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,” Anew Climate CEO Angela Schwarz said. “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,” Aurora Sustainable Lands CEO Jamie Houston said. “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”.

TotalEnergies said it welcomes the Voluntary Carbon Markets Joint Policy Statement and Principles guide issued by the U.S. government on May 28, adding that its actions in nature-based solutions are aligned with the principles, “particularly those focused on integrity, transparency and environmental protection”.

Further, TotalEnergies said that it works with local partners around the world to develop and conserve natural carbon sinks, while helping to preserve or improve their biodiversity. The operations follow a long-term approach to sustainable and integrated economic development of areas with local communities.

TotalEnergies said it plans to invest $100 million per year to build a portfolio of projects capable of generating at least five million metric tons of carbon dioxide equivalent (CO2e) of carbon credits per year by 2030.

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