Ryan Dezember writes in The Wall Street Journal about an oil giant’s efforts to offset its emissions.
- French oil company TotalEnergies is investing $100 million in carbon credits from U.S. forests, likely the largest purchase of its kind, to offset emissions it can’t eliminate by 2030.
- The credits are sold by Aurora Sustainable Lands, which has reduced timber harvests by over 50% on its 1.7 million acres of Eastern U.S. forests to create long-term carbon sinks.
- To ensure these offsets like these are effective, the private sector must implement strict monitoring and verification standards.
“TotalEnergies said it would use credits to offset Scope 1 emissions, which come directly from its operations, and Scope 2 emissions from its energy purchases. Those are the types of emissions that the Securities and Exchange Commission said it will require companies to disclose starting in fiscal year 2026.”
Read the full article here.
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