US timberland investment trust Rayonier is broadening its focus on carbon offset projects, evaluating initiatives in both the US and New Zealand. The company, which owns 2.7 million acres of timberland, is involved in improved forest management and afforestation projects to generate carbon credits. This comes as corporate demand for carbon offsets grows, fueled by net-zero commitments.
New tree seedlings in the foreground with a deforested area and a US deciduous forest in the background. AI generated picture.
Rayonier is an active participant in New Zealand's Emissions Trading Scheme (ETS). At the end of 2023, it held 2.2 million New Zealand Units (NZUs), which it plans to sell as needed. ‘Given the high cost and limited scalability of technology-based removals such as direct air capture, we believe that nature-based removals or offsets will play an important role in the transition to a low-carbon economy’, a representative of the company stated.
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In the US, Rayonier is also exploring solar power and carbon capture and storage (CCS) projects. The company currently has 75,000 acres under lease for CCS exploration, with potential for additional acreage agreements.
Rayonier’s sustainability report revealed that its forests removed 13.3 million tonnes of CO2 in 2022, while its emissions across Scope 1, 2, and 3 reached 2.01 million tonnes. The company is aiming for a 42% reduction in direct emissions and a 25% cut in value-chain emissions by 2030, with a goal of achieving net-zero emissions by 2040.
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Carbon footprint compensation goes beyond meeting environmental requirements—it is essential for ensuring a sustainable future. DGB Group's nature-based initiatives, including reforestation and afforestation, offer companies practical solutions to compensate for their unavoidable carbon emissions while restoring ecosystems and supporting local communities. By committing to carbon compensation through these long-term projects, businesses help create a greener, more resilient planet for future generations, fostering both environmental and social benefits.
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