JPMorganChase purchases 85,000 tons of forest-based carbon removal credits from Anew Climate and Aurora Sustainable Lands
Type: Supply Agreement · Technology: Forestry · Country: United States · Announced: 2026-04-13
JPMorganChase entered a supply agreement to purchase 85,000 tons of forest-based carbon removal credits from Anew Climate and Aurora Sustainable Lands, marking the bank's second carbon removal deal in April 2026 following a 60,000-ton agreement with Graphyte. The credits will be generated from the Little Bear Forestry Project, a 1.7 million-acre forestland portfolio managed by Aurora Sustainable Lands along the Appalachian Mountains in West Virginia and Virginia. Aurora, a joint venture majority-owned by TPG Rise and backed by Oak Hill Advisors, AB CarVal, EIG, and GenZero, employs a carbon stewardship strategy focused on maximizing natural carbon removal and storage potential while safeguarding ecosystem integrity. Anew Climate will market the credits using its Epoch Evaluation Platform, which applies dynamic baselines with high-resolution remote sensing, satellite-based carbon tracking, machine learning, and ground observations to verify climate impact. The transaction aligns with JPMorganChase's goal to match every ton of unabated Scope 1 direct operational GHG emissions with durable carbon removal by 2030.
Analysis
JPMorganChase announced on April 13, 2026, a supply agreement to purchase 85,000 tons of forest-based carbon removal credits from Anew Climate and Aurora Sustainable Lands. The credits will be generated from the Little Bear Forestry Project, a 1.7 million-acre forestland portfolio managed by Aurora Sustainable Lands along the Appalachian Mountains in West Virginia and Virginia. Anew Climate, a decarbonization solutions provider backed by TPG Rise Climate, will market the credits using its Epoch Evaluation Platform. Aurora Sustainable Lands, a joint venture majority-owned by TPG Rise and backed by Oak Hill Advisors, AB CarVal, EIG, and GenZero, acquires, develops, and manages large-scale land portfolios. This transaction aligns with JPMorganChase's goal to match every ton of unabated Scope 1 direct operational GHG emissions with durable carbon removal by 2030.
Key points
- JPMorganChase purchased 85,000 tons of forest-based carbon removal credits.
- The credits are from the Little Bear Forestry Project, a 1.7 million-acre forestland portfolio.
- The project is located along the Appalachian Mountains in West Virginia and Virginia.
- Anew Climate and Aurora Sustainable Lands are the suppliers.
- The deal was announced on April 13, 2026.
Counterparties
- TPG Rise (Parent Company)
- AB CarVal (Parent Company)
- Anew Climate (Supplier)
- Aurora Sustainable Lands (Supplier)
- JPMorganChase (Buyer)
- GenZero (Parent Company)
- EIG (Parent Company)