REG-TotalEnergies SE Australia: TotalEnergies Inks Two Partnerships to Develop Natural Carbon Sinks

TotalEnergies SEAnnouncement

18/11/2021 07:30

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Australia: TotalEnergies Inks Two Partnerships to Develop Natural Carbon Sinks

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has established two operational
partnerships with Australian carbon developers AgriProve and Corporate Carbon
to develop natural below-ground carbon sinks in Australia and help prevent
savanna fires, notably in Africa.

1. Partnership with AgriProve: a 20,000-hectare soil carbon sequestration
operation to remove and sequester more than 3 million tonnes of CO2e.

Since October 2020, TotalEnergies and AgriProve have been partnering to foster
the development of soil carbon sinks in Australia by engaging with, financing,
and supporting volunteer farmers in their transition from intensive
agriculture to various regenerative agricultural practices.

The new farming systems allow soils that are regenerating through improved
farming practices to store much more carbon thanks to richer below-ground
biodiversity (roots, nodules, etc.). These richer soils also increase natural
productivity, and improve rainfall infiltration and drought resistance,
providing greater crop resilience in the face of Australia’s many severe
weather events. Farmers in the program also benefit from additional income
from the sale of Australian Carbon Credit Units (ACCUs).

Seventy farmers have already joined the project, representing 15,000 hectares
of land. This makes it a large innovative aggregation of landowners that are
transitioning to regenerative agriculture. Over 25 years, by fixing more
carbon in the soil, more than 3 million tonnes of CO(2 )equivalent are
expected to be removed from the atmosphere and permanently sequestered in the
ground.

2. Partnership with Corporate Carbon: an international methodology for savanna
fire management based on Australian Indigenous land management know-how to
help preserve African landscapes.

Since July 2021, TotalEnergies and Corporate Carbon have been partnering to
develop a free, international methodology to prevent savanna fires, along with
tools to verify the impact. The methodology is based on Australian Indigenous
savanna fire management techniques, which cultivate burning practices that
avoid severe late dry season fires.

International Savanna Fire Management Initiative (ISFMI
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.isfmi.org%2F&esheet=52533959&newsitemid=20211117006472&lan=en-US&anchor=ISFMI&index=1&md5=93fa3dd7c3897fc02afc18bcccb49e11)
) estimates that savanna fires cause the net emission of 2 gigatonnes of CO(2
)equivalent annually, out of which 70% occur in Africa. To help solving this
issue, the partnership includes the launch of initial programs with resident
populations in the southern Africa region to implement the necessary
practices.

The measurement of avoided emissions achieved through these fire management
practices will be conducted using extensive satellite data and remote sensing.

“We are pleased to partner on concrete projects and invest in natural
ecosystems that will generate high-quality carbon credits over the next
decade. Australia is a pioneer in soil carbon sinks and savanna fire
management methodologies. We support this activity and aim to play a role in
enabling other geographies, like Africa, to benefit from it”, said Adrien
Henry, Vice President Nature Based Solutions at TotalEnergies.
“TotalEnergies' climate ambition is based on a panel of tangible actions,
aiming first to prevent and then to reduce our greenhouse gas emissions, and
finally to offset residual emissions. These projects in Australia are
real-world illustrations of this approach, complementing all the other
priority measures for preventing and reducing TotalEnergies’ emissions”.

***

About AgriProve

AgriProve is a pioneer in agricultural soil carbon sequestration projects in
Australia, with 90,000 hectares under management, including the first
Australian property to receive credits for soil carbon sequestration.
AgriProve’s focus is on providing solutions to Australian farmers to allow
greater participation in the Australian Emissions Reduction Fund. This in turn
makes it easier for farmers to access the emerging carbon market.

About Corporate Carbon

Corporate Carbon has been one of the leading supporters of savanna fire
management projects in Australia with involvement in 15 projects and 1.8
million tonnes of certified avoided emissions to date. They are also co-chair
of the Australian Savanna Burning Management industry working group, and part
of the International Savanna Fire Management Initiative which aims to support
Indigenous savanna fire management wherever Indigenous communities wish to
revitalize traditional practices.

About TotalEnergies Nature Based Solutions

As part of its climate ambition, and in addition to its priority actions to
avoid and reduce emissions, TotalEnergies works with many local partners
around the world to develop and conserve natural carbon sinks, while helping
to preserve their biodiversity. These operations follow a long-term approach
of sustainable and integrated economic development of areas with local
communities. TotalEnergies plans to spend $100 million per year to build a
portfolio of projects capable of generating at least 5 million metric tons of
CO2e of carbon credits per year by 2030. These carbon credits will be used
after 2030 to offset the Company's scope 1 & 2 emissions.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies on a global scale: oil and biofuels, natural gas and green gases,
renewables and electricity. Our 105,000 employees are committed to energy that
is ever more affordable, cleaner, more reliable and accessible to as many
people as possible. Active in more than 130 countries, TotalEnergies puts
sustainable development in all its dimensions at the heart of its projects and
operations to contribute to the well-being of people.

***

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Cautionary Note

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nor any of its subsidiaries assumes any obligation to update publicly any
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TotalEnergies’ financial results or activities is provided in the most
recent Registration Document, the French-language version of which is filed by
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