RBC Purchases IFM Carbon Credits from Chestnut's Forest Management Project
Royal Bank of Canada (RBC) has entered into an agreement to purchase carbon credits generated by Chestnut’s Improved Forest Management (IFM) project. The initiative supports forest health through practices such as longer harvest rotations, retention of larger trees, and prescribed burns. These efforts aim to enhance the resilience of forests against wildfires, droughts, and other environmental threats. Chestnut's IFM portfolio spans over 200,000 acres across 37 U.S. states, offering private landowners access to carbon markets while providing long-term financial support. The revenue from RBC’s purchase helps these landowners maintain forest health and meet immediate economic needs without resorting to development. RBC emphasized the importance of investing in verified climate solutions as part of its broader strategy for a low-carbon economy, highlighting how such projects align environmental benefits with economic viability.
Tickers: $RBC
Topics: carbon credits climate change forest management sustainability