TotalEnergies invests

TotalEnergies has signed a $100 million agreement with Anew Climate and Aurora Sustainable Lands to invest in forestry operations aimed at preserving carbon sinks across 300,000 hectares in 10 U.S. states. This investment will support improved forest management practices, helping to offset the company's greenhouse gas emissions as part of its climate goals to achieve carbon neutrality by 2050. The initiative is expected to yield environmental benefits such as enhanced biodiversity, improved water and soil quality, and the conservation of natural habitats. TotalEnergies plans to acquire carbon credits from these projects to offset a portion of its Scope 1 and 2 emissions, which are projected to be less than 10% of its total emissions after 2030. This move aligns with U.S. government efforts to enhance the integrity of carbon offset markets, although recent studies have raised concerns about the effectiveness of some large forest protection projects. The agreement marks a significant step in TotalEnergies' strategy to invest $100 million annually in projects that can produce at least 5 million metric tons of CO2 offsets by 2030.