Climate solutions provider Anew Climate and U.S. forestry-focused carbon removal platform Aurora Sustainable Lands announced a new agreement with JPMorganChase for the purchase of over 85,000 tons of carbon removal credits, generated through improved forest management (IFM) projects across U.S. forestlands and incorporating dynamic baselining methodologies.

Aurora, a joint venture between Anew Climate and equity investors led by Oak Hill Advisors, AB CarVal, EIG and GenZero, invests in industrially harvested forests to deliver high-integrity, verifiable carbon credits. The company has acquired more than 1.7 million acres of U.S. forestland with a history of industrial logging, which it manages with a carbon stewardship strategy focused on maximizing natural carbon removal and storage potential. Carbon credits generated from Aurora’s projects are marketed by Anew Climate.

Founded in 2001 and majority-owned by alternative asset manager TPG’s impact investing platform TPG Rise, Texas-based Anew provides climate solutions aimed at helping companies reduce their carbon footprints and restore the environment, including technological and nature-based solutions, and the marketing of environmental credits across low carbon fuel, carbon, renewable energy and emissions markets.

According to the companies, the carbon credits will be generated from the Little Bear Forestry Project, located along the Appalachian Mountains in West Virginia and Virginia and owned and managed by Aurora Sustainable Lands.

The agreement will also utilize Anew’s Epoch Evaluation Platform, which applies dynamic baselines across IFM portfolio using high-resolution remote sensing, satellite-based carbon tracking, machine learning and ground observations to enhance verified climate impact.

The transaction marks the second carbon removal agreement announced this month by JPMorganChase, including a 60,000-ton deal with cleantech startup Graphyte. The bank is one of the largest buyers of carbon removal credits in the banking sector and aims to match every ton of unabated Scope 1 direct operational GHG emissions with durable carbon removal by 2030.