Weyerhaeuser announced on Wednesday (9-20-23) that it has received approval from the American Carbon Registry for its Improved Forest Management (IFM) carbon credit project in Maine. The Kibby Skinner IFM Project covers approximately 50,000 acres, has been verified through a third-party auditor, and is the first issuance of credits for Weyerhaeuser through the voluntary carbon market.
The project has an estimated initial credit issuance of nearly 32,000 mtCO2e, with one credit equal to one metric ton of carbon dioxide equivalent. Over the lifetime of the project, it is expected to generate 475,000 credits.
According to the press release, Weyerhaeuser is currently in the early stages of developing several IFM projects on select areas within its 11-million-acre land base in the US, including two in the South slated for completion in late 2023 or early 2024. As it develops these projects, the company is working with experts at Carbon Direct to ensure that all credits offered will generate real, additional carbon absorbed and stored in project areas.
Carbon Direct will provide advisory and marketing services and evaluate Weyerhaeuser projects against the Criteria for High-Quality Carbon Dioxide Removal, which provides science-based benchmarks to drive effective, equitable climate action at scale.
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