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Chestnut Carbon Signs 15-Year Carbon Credit Offtake Agreement With Microsoft

December 21, 2023

Chestnut Carbon, a nature-based carbon removal developer founded by private investment firm Kimmeridge Energy Management Company, LLC, today announced that it has entered into a multi-year offtake agreement to provide Microsoft with high-quality, nature-based carbon removal derived entirely from a novel afforestation project based in the United States.

This is the largest afforestation project certified under the Gold Standard to date, and a testament to the scalability of high-quality nature-based solutions. Through a first-of-its-kind 15-year offtake agreement for nature-based credits, Chestnut will deliver 362,000 tons of projected carbon removal from its Sustainable Restoration Project Phase I and up to 2.7 million tons in aggregate across subsequent phases. Chestnut’s differentiated focus on positive impact, verifiability and execution aligns with Microsoft’s criteria for high-quality carbon removals.

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