illuminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:

🗞️ Driving the news: French oil company TotalEnergies is investing $100 million in carbon credits to preserve forests across 10 U.S. states, including areas in Louisiana, New York, and Kentucky
• The initiative, in partnership with Aurora Sustainable Lands, aims to prevent deforestation, allowing trees to continue absorbing carbon dioxide
• This purchase marks one of the largest investments in the voluntary carbon credit market focused on maintaining natural carbon sinks

🔭 The context: Carbon offsets have become a popular method for companies to meet their emissions reduction goals, especially when direct emission cuts are challenging
• Aurora Sustainable Lands, supported by major investors like Oak Hill Advisors, manages nearly 1.7 million acres of forest and has significantly reduced timber harvests to create long-term carbon sinks
• The forest offsets market, while resilient, has faced scrutiny over the reliability and environmental benefits of some projects

🌍 Why it matters for the planet: By protecting forests, TotalEnergies' investment directly contributes to combating climate change through natural carbon sequestration
• Forest conservation is a critical strategy in reducing greenhouse gas concentrations, offering a nature-based solution to offset emissions that are difficult to eliminate through technological means alone

⏭️ What's next: TotalEnergies plans to use these carbon credits to offset residual emissions from its operations by 2030, aiming for net-zero emissions by 2050
• Monitoring and verification will ensure that the offsets meet high standards of carbon sequestration, bolstering credibility in voluntary carbon markets

💬 One quote: “Historically, harvests were based on creating the highest timber revenue. Now harvests are based on creating a multidecade carbon sink on all of these properties,” said Jamie Houston, CEO of Aurora Sustainable Lands

📈 One stat: TotalEnergies has committed $725 million to carbon offsets globally, including wetlands and forest preservation, before this latest $100 million investment in U.S. timberlands

Click for more news covering the latest on carbon market