Chestnut Carbon Announces First Issuance of Credits from Forest Conservation Membership Program
Chestnut Carbon has issued and sold more than 64,000 tons of Improved Forest Management (IFM) carbon removal credits totaling $2.2 million to global financial services companies.
NEW YORK, Feb. 26, 2025 /PRNewswire/ -- Chestnut Carbon ('Chestnut'), a leading developer of nature-based carbon removal solutions, announced today that they have completed the first issuance and sale of Improved Forest Management (IFM) credits sourced from their conservation membership program branded as Forest Carbon Works.
The issuance of more than 64,000 credits, or tons of carbon removal, were sold to multiple corporate buyers, including JPMorganChase. These transactions totaled $2.2 million.
Chestnut's U.S.-based IFM membership program, Forest Carbon Works, provides an opportunity for private forest owners to access income-generating carbon markets while preserving the integrity and legacy of their land. The program includes landowners in 36 states with more than 150,000 acres enrolled as of February 2025.
These carbon removal credits are certified through Verra on the voluntary carbon market (VCM) and undergo rigorous third-party audits. Chestnut's conservative methodology underlies carbon removal credits which are highly additional and more durable than most IFM projects in the market today.
'We're extremely proud to bring this issuance of IFM carbon removal credits to market,' said Ben Dell, CEO of Chestnut Carbon and Managing Partner of Kimmeridge. 'The high quality and integrity of our product offering is reflected in the premium pricing we're receiving for our credits.'
Chestnut's carbon removal represents the highest quality IFM product available:
100% Carbon Removal: Unlike most IFM credits, which represent a blend of avoidance and removal measurement, Chestnut only sells credits measuring carbon removal. These represent emissions removed from the atmosphere and sequestered in new growth, aligning with what many sustainability-focused buyers are looking for today;
Highly Additional: Chestnut's conservation membership program protects at-risk forests across the U.S. and provides landowners with an alternative revenue stream for conservation instead of harvesting their timber; and
Longer Duration: Long-term conservation easements attached to member land deeds ensure carbon is stored for 60+ years. This extended timeframe surpasses most existing IFM programs available in the market (typically 40 years), providing buyers with a reliable and lasting impact on carbon removal.
About Chestnut Carbon
Chestnut Carbon ('Chestnut') is a leading developer of nature-based carbon removal credits. Founded in 2022 with the support of energy-focused alternative asset manager Kimmeridge, Chestnut generates U.S.-based, high-quality forest carbon offsets that are additional and verifiable to accelerate the path to net zero across a range of industries. Chestnut uses a proprietary, technology-enabled approach to developing forest carbon offset projects on family-owned forestland and marginal crop and pastureland. Chestnut's expertise is driven by an experienced team, whose diverse backgrounds include forestry, carbon regulation, environment, finance and land management. For additional information on Chestnut, its strategies and environmental stewardship, please visit https://chestnutcarbon.com/.
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