Nature-based carbon removing options supplier Chestnut Carbon has acquired land in Texas, advancing its purpose of “reworking unproductive land throughout the USA into biodiverse, native forests that profit each the atmosphere and native communities”.
The acquisition brings Chestnut’s whole landholdings to over 30,000 acres throughout the Southeastern USA, because it enters its third yr of planting, the corporate mentioned in a information launch. Texas is the fifth state in its Chestnut Restoration Challenge.
Chestnut’s Texas acquisition is a 300-acre parcel close to Nacogdoches. Located south of town limits, the land was underutilized as a cattle pasture, restricted in its potential because of its proximity to a close-by water remedy plant. By restoring the parcel to a vibrant forest populated with various native hardwood and softwood seedlings, Chestnut mentioned it’s “maximizing the land’s ecological worth in its highest and finest use”.
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In accordance with the corporate, the brand new forest will improve regional water high quality, enhance air high quality and help wildlife populations in a state just lately impacted by devastating wildfires.
Ben Dell, Managing Associate and Co-Founding father of Kimmeridge and CEO of Chestnut Carbon, mentioned, “We’re very happy to develop our Chestnut Restoration Challenge into Texas, a big step that pushes us previous the 30,000-acre mark as we work in direction of our purpose of reforesting 500,000 acres of land by 2030. This acquisition underscores our dedication to revitalizing underperforming land with a long-term imaginative and prescient for environmental restoration, sustainable land administration, and neighborhood engagement”.
Chestnut mentioned it has already planted over 10 million native tree seedlings over the previous two years. In the meantime, its partnerships with native operators, together with ArborGen Nursery for seedling provide and DDK Forestry & Actual Property for forestry consulting, proceed to strengthen its ties to the area people. The undertaking has bolstered native economies by creating useful employment alternatives, together with 15 full-time and over 100 seasonal positions throughout the 5 states through which Chestnut operates.
The Chestnut Restoration Challenge, the biggest registered underneath the Gold Commonplace, represents carbon growth of the best integrity, offering a high quality nature-based carbon removing resolution to sustainability-oriented companies dedicated to decarbonization and internet zero objectives. The undertaking aligns with seven of the United Nations Sustainable Improvement Objectives, in response to the discharge.
In April, Chestnut introduced the sale of its first Improved Forest Administration (IFM) carbon removing credit to an undisclosed massive company purchaser at a worth of $34 per credit score
The IFM credit are solely removing credit sourced from Chestnut’s forested properties within the southeastern USA.
In accordance with an earlier information launch, the upper worth level of Chestnut’s IFM credit displays the distinctive high quality of the corporate’s choices and an growing appreciation for removing credit that may exhibit true additionality and sturdiness.
The credit are licensed via Verra on the voluntary carbon market (VCM) and bear rigorous third-party audits.
Based in 2022 with the help of energy-focused different asset supervisor, Kimmeridge, Chestnut Carbon is a developer of nature-based carbon removing credit. It generates U.S.-based, high-quality forest carbon offsets which can be further, verifiable and sturdy, it mentioned.
Chestnut’s experience is bolstered by its acquisition of Forest Carbon Works, a public profit company, with a proprietary method to growing U.S. forest carbon offset tasks on family-owned forestland, in response to the discharge.
Kimmeridge is an alternate asset supervisor centered on the power sector. The agency mentioned it’s differentiated by its direct funding method, deep technical information, lively portfolio administration, confirmed sustainability observe document and proprietary analysis and information gathering.
To contact the writer, e-mail rocky.teodoro@rigzone.com
