According to ESG Today, the investment in these projects will help the French company achieve its broader sustainability goals, such as the plan to generate up to 5 million tons of CO2e carbon credits by 2030. For this particular objective, up to 100 million USD will be invested on an annual basis.

Through the recently-announced investment, TotalEnergies will support the development of 20 projects belonging to Aurora from 10 different US states, covering a total area of 300.000 hectares. Under the agreement, the French company will acquire all of the carbon credits that have been generated through initiatives aimed at supporting the local ecosystems, lowering the strain on the water resources, as well as preventing deforestation.

TotalEnergies wants to become a carbon neutral company across the Scopes 1 and 2 by the end of 2050, while reducing them in the meantime by 40% by 2030, compared to 2015.

Texas-based Anew Climate is a company that helps other players on the market achieve their climate objectives using natural and technological solutions, while restoring and preserving the environment.