Terms
- Not ranked
- Offtake, therefore not eligible for carbon financing league table
- Announced
- 20 Dec 2023
- Instrument
- Offtake
- Amount
- 362,000 tCO2eNo cash value disclosed
- Source
- prnewswire.com
Parties
- Project developer
- Chestnut Carbon
- Country
- United States
- Buyers
Carbon
- Pathway
- ARR (afforestation, reforestation, revegetation)
What happened
- "Chestnut will deliver 362,000 tons of carbon removal in Phase I" with potential aggregate delivery of up to 2.7 million tons across subsequent phases under a 15-year offtake agreement (Chestnut release, 20 Dec 2023). Volume recorded at the Phase I firm figure only; the 2.7m t is optional future phases. Payment timing not stated, so it does not rank.
Kumo note
- - Microsoft's first purchase from Chestnut: a 15-year forward offtake from the first phase of what Chestnut called the largest afforestation project certified under the Gold Standard.
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