Weyerhaeuser completes sale of initial carbon credit offering

Weyerhaeuser Company 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. “We are pleased to be delivering our first forest carbon credits from our Maine project,” says Russell Hagen, senior vice president and chief development officer for Weyerhaeuser. “This initial sale is an important milestone for Weyerhaeuser and demonstrates our commitment to offering only the highest-quality credits to the market.”