Will play key role in filtering water, cleaning air, and enhancing biodiversity
THE PLAINS, Va., Sept. 19, 2024 /PRNewswire/ — ACRE Investment Management announces the launch of its latest platform, Oyster Carbon Company, with near-term plans to plant six million oysters in the Chesapeake Bay at Urbanna Creek, Va., about 60 miles east of Richmond.
This planting is fully funded by ACRE – Advanced Carbon Restored Ecosystem – as part of a project expected to eventually restore 100,000 acres and lead to the sequestration of nearly 10 million tons of carbon1. It leverages a climate finance model by using funds to mitigate climate change.
WHY IT MATTERS:
- Carbon sequestration. Oysters remove pollutants and absorb CO2, storing the chemical compound in their shells.
- Biodiversity support. Oysters improve water quality and maintain a clean, balanced aquatic environment while reefs provide critical habitats for diverse marine life. Each individual oyster can filter up to 50 gallons of water per day.
- Economic Impact. The project boosts local jobs in oyster farming and reef restoration.
This follows news earlier this year that ACRE’s GreenTrees platform was awarded 1.52 million carbon credits for the 2021-22 growing seasons, increasing its lifetime total to nearly 7.8 million tons since 2003. That figure is roughly equal to the annual emissions of 1.5 million passenger vehicles, ranking GreenTrees as the world’s largest carbon removal project per Climate Focus.
FROM ACRE CO-FOUNDER AND PRESIDENT CHANDLER VAN VOORHIS:
“Climate change has wreaked havoc on the Chesapeake Bay, where there used to be enough oysters to recycle all 18 trillion gallons of water every few days. Unfortunately, it currently takes more than 400 days to filter the Bay’s water, something we aim to change with this project.”
“We believe in harnessing the power of nature to address issues of climate, water, and biodiversity. The oyster project is a powerful example of how climate finance can create ripple impacts in local economies, water, and biodiversity.”
“When you filter the water, more sunlight penetrates the water, grasses grow, and species come back. This builds more resilience into our natural infrastructure. ”
MORE ABOUT ACRE:
- The company’s goals for the southeast U.S.: restore one million acres of hardwood ecosystems in the Mississippi Delta, 500,000 acres of longleaf ecosystem, 100,000 acres of Oysters in the Chesapeake Bay and 600,000 acres of river buffers in Virginia.
- The company was founded in 2003, combining science with advanced carbon measurement techniques to ensure measurable benefits for the environment and communities.
About ACRE Investment Management
ACRE Investment Management – Advanced Carbon Restored Ecosystem – is a leading natural asset company, managing five platforms across a broad range of natural capital assets. The company has 170,000 total acres under management across its platforms with 800 landowner clients and is a market leader in carbon removals and nutrient mitigation.
For more, please visit www.acre-investment.com or LinkedIn.
MEDIA CONTACT
Randy Williams +1.917.213.5980
1 Estimation over roughly the next decade.
SOURCE ACRE Investment Management