Weyerhaeuser announces approval of first forest carbon project
Weyerhaeuser Co. has received approval from the American Carbon Registry for its Improved Forest Management (IFM) carbon credit project in Maine.
Covering approximately 50,000 acres and verified through a third-party auditor, the Kibby Skinner IFM Project 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.
“Forests represent one of the largest and most readily available opportunities to remove carbon dioxide from the atmosphere and help address the impacts of climate change,” said Russell Hagen, senior vice president and chief development officer for Weyerhaeuser. “Since launching our Natural Climate Solutions business, we have been working to develop forest car