Weyerhaeuser recently announced that it received approval from the American Carbon Registry for its Improved Forest Management carbon credit project in Maine.

The release states "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, says 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 carbon projects that can generate meaningful carbon additionality with measurable climate benefits. This initial project is an important milestone for Weyerhaeuser and demonstrates our commitment to offering only the highest-quality credits to the market.

Weyerhaeuser is currently in the early stages of developing several IFM projects on select areas within its 11-million-acre land base in the U.S., 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."

Trace Carbon Solutions and Molpus Woodlands Group Announce the Evergreen Sequestration Hub in Louisiana.

The news release states "Trace Carbon Solutions, LLC (Trace) and Molpus Woodlands Group (Molpus), on behalf of a client, announced that they have signed a servitude agreement providing Trace with exclusive rights to develop and operate a carbon sequestration site, to be called the Evergreen Sequestration Hub (Evergreen Hub), on approximately 20,000 acres in Calcasieu and Beauregard parishes in Louisiana. Trace will use the site to permanently sequester industrial carbon dioxide (CO₂) in underground geologic formations, while Molpus will continue to manage the aboveground acreage as a sustainably managed working forest.

This servitude agreement is a fundamental step towards Trace's goal to develop low-cost carbon capture, transportation and sequestration (CCS) assets across North America. The company anticipates that the Evergreen Hub will have high CO₂injectivity and total sequestration capacity of over 250 million metric tons of CO₂. The need for this sequestration capacity is supported by significant emission sources in the nearby Southwest Louisiana and Southeast Texas areas; Trace estimates more than 65 million metric tons per year of existing stationary CO₂ emissions are located within 50 miles of the Evergreen Hub."

We'll keep you apprised of further developments.