SEATTLE — Weyerhaeuser 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 Project in Maine. Weyerhaeuser will immediately retire these credits on behalf of the buyer. 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.

Related coverage in the Wall Street Journal: Weyerhaeuser Sells Its First Carbon Offsets