Climate Neutral Business
New Forests will be climate neutral across our business operations for FY21 by purchasing carbon offsets from high quality projects in 2022.
Reducing emissions
New Forests will report the full carbon emissions and removals (Scopes 1-3) inventory for our corporate operations and investment portfolio. We will also publish a public methodology document that outlines our methodology for developing our carbon emissions and removals inventories. These inventories will serve as the basis for corporate operations and fund-level Emissions Reduction Plans (tentatively to be developed in FY23).
Climate neutral business
New Forests aims to be climate neutral across our business operations. The company is currently measuring its business and investment greenhouse gas emissions and will offset appropriately by the end of 2020.
Collaboration to advance forestry as a climate solution
New Forests believes that corporate and investment in greenhouse gas (GHG) accounting frameworks do not accurately capture the role of carbon removals by forests and carbon storage in durable wood products. Therefore, the company is working to advance GHG forestry accounting via working groups and plans to pilot the Carbon Removals Standard for the GHG Protocol in 2021.
Investing in line with the goals of the Paris Agreement
Demonstrate investable pathways to shift the forestry sector from an emissions source to an emissions sink
New Forests aims to work with clients to embed forestry investment into net zero commitments and will strive to report the climate impact of its investment portfolio by 2021. Additionally, New Forests aims to develop a Science-based Target for its forestry investment portfolio in 2022.
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