Weyerhaeuser Completes Sale of Initial Carbon Credit Offering

Agreement Marks Company’s First Transaction in the Voluntary Carbon Market

Weyerhaeuser Company announced an agreement for the sale of nearly 32,000 forest carbon credits at $29 per credit. This agreement marks Weyerhaeuser’s first transaction in the voluntary carbon market and represents the sale of all credits issued by ACR for the first year of the company’s Kibby Skinner Improved Forest Management (IFM) Project in Maine. Weyerhaeuser will immediately retire these credits on behalf of the buyer.

“We are pleased to be delivering our first forest carbon credits from our Maine project,” says Russell Hagen, senior vice president and chief development officer for Weyerhaeuser. “This initial sale is an important milestone for Weyerhaeuser and demonstrates our commitment to offering only the highest-quality credits to the market.”

Weyerhaeuser is currently developing several IFM projects on select areas within its 11-million-acre land base in the U.S., including two in the U.S. South anticipated to be approved in 2024. The company is working with Carbon Direct to deliver scientifically robust, high-quality forest carbon credits. Carbon Direct is providing advisory and marketing services and helping ensure Weyerhaeuser projects meet the Criteria for High-Quality Carbon Dioxide Removal, which are science-based benchmarks to drive effective, equitable climate action at scale.      

“We have been intentional in designing our projects to make certain all credits are of the highest integrity,” Hagen says. “All projects we are developing follow three key principles: they must represent real, measurable changes to our business operations to capture additional carbon, deliver long-term climate benefits and be based on a transparent methodology. We believe these principles are essential to help build a trusted market. And given our unmatched portfolio and expertise at Weyerhaeuser, we are uniquely positioned to scale our credit offerings as companies increasingly look to reduce and offset their emissions and reach their net-zero commitments.”  

For more information on Weyerhaeuser’s Natural Climate Solutions, including the company’s Forest Carbon Principles, visit www.weyerhaeuser.com/climate-solutions. For more on the Kibby Skinner IFM Project, visit www.carbon-direct.com/wy.

About Weyerhaeuser

Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900. They own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. They manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. They are also one of the largest manufacturers of wood products in North America. Their company is a real estate investment trust. In 2022, they generated $10.2 billion in net sales and employed approximately 9,200 people who serve customers worldwide. Their common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

Contact:

Nancy Thompson – Media Contact – nancy.thompson@weyerhaeuser.com – (919) 861-0342

Source: Weyerhaeuser Company