Published by Todd Bush on December 12, 2022
MEMPHIS, Tenn., Dec. 7, 2022 /PRNewswire/ -- Louisiana First Horizon Foundation announced today a financial pledge for the development of a Blue Carbon Database for the U.S. Southeast and northern Gulf of Mexico coastal habitats. The database will include up-to-date information on the status of potential coastal Blue Carbon shovel-ready parcels.
>> In Other News: Phillips 66 Announces 2023 Capital Program
First Horizon is partnering with the ETSU Research Corporation and S.C. Sea Grant Consortium to develop the database which will focus on areas within the U.S. south Atlantic (South Carolina, Georgia, and Florida) and northern Gulf of Mexico (Louisiana). As other partners join, the database could be expanded to include other coastal areas.
S.C. Sea Grant will build the database through meeting landowners and natural resource managers, scoping potential sites, discussing opportunities with blue carbon practitioners, and compiling spatial information within a searchable web-based Geographic Information System (GIS) interface. Once completed, slated for late-2023, the publicly available database will identify potential pathways for private sector investment in coastal natural resources via Blue Carbon crediting.
"With our footprint surrounding many larger waterways and along coastlines, we believe investing capital and time in Blue Carbon advancement provides numerous benefits to First Horizon and the communities that we serve," said Mary Lakey, Head of Environmental, Social and Governance for First Horizon. "The ability to identify shovel-ready projects surrounding coastal wetlands will not only enhance carbon sequestration, but also provide co-benefits to local communities such as resiliency and biodiversity, creating a win-win."
Earlier this year, First Horizon Bank hosted a Blue Carbon Roundtable bringing together leaders in the scientific and private sectors to learn and discuss current challenges and advance understanding of emerging climate solutions. The database, as well as a Blue Carbon Working Group, came to fruition as a result of the roundtable collaboration.
"Our vision is to create a sharable tool that provides a regional inventory of potential blue carbon projects as an access point for land managers, restoration practitioners, regulators, investors and coastal scientists to interact. This tool will help identify projects that advance investments in coastal natural resource protection and stewardship. Some of these projects may allow for carbon offsets, which are going to be needed to support net zero commitments across the U.S." said Brita Jessen, Interdisciplinary Research and Partnerships Lead with S.C. Sea Grant Consortium.
"We continue to look for tangible ways we can enact change through important partnerships and support of nature-based projects and science-based solutions," Lakey added. Our status as a trusted financial institution ideally positions us to serve as a catalyst for such collaboration and we are cognizant that these efforts can create benefits for communities around the U.S."
More about Blue Carbon (source: www.oceanpanel.org)
Coastal wetlands have been the focus of conservation and restoration efforts for over a century with the goal of preserving biodiversity and generating benefits to local communities. More recently, coastal wetlands have also been recognized for their carbon storage and sequestration value. The wetlands sequester billions of tons of carbon from our atmosphere at concentrations up to five times greater than terrestrial forests. The carbon sequestered and stored in these coastal wetlands is called "Blue Carbon".
As part of the IBERIABANK/First Horizon merger-of-equals, the Louisiana First Horizon Foundation was founded in 2020 to meet community needs in the state of Louisiana.
First Horizon Corp. (NYSE: FHN), with $80.3 billion in assets as of September 30, 2022, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
FHN-G
SOURCE First Horizon Corporation
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🍁 Inside Canada’s Quiet Takeover of the Carbon Capture Industry ✈️ Phillips 66 to Supply SAF to British Airways in Calif 💧 HyVera Distributed Energy Launches Green Hydrogen-On-De...
Inside This Issue 🌍 1PointFive Announces 50,000 Metric Ton Carbon Removal Agreement with JPMorganChase 📊 Carbon Direct Unveils First Empirical Baseline on Carbon Dioxide Removal and Environmental ...
Inside This Issue 🧪 $400M Bet on Blue Ammonia: Industry Giants Push Carbon Capture in Louisiana 🏭 Linde Signs Long-Term Agreement to Supply Industrial Gases to World-Scale Low-Carbon Ammonia Facil...
Aemetis Biogas Receives CARB Approval for Seven RNG Pathways
Dairy Based Renewable Natural Gas from Seven Digesters Averages Negative 384 Carbon Intensity Aemetis Receives CARB Approval for Seven Dairy Digesters Under LCFS CUPERTINO, Calif., June 27, 2025 ...
Ohmium and Toyota Kirloskar Motor Sign MoU to Advance Hydrogen-Based Solutions in India NEWARK, Calif. & BANGALORE, India -- Ohmium International, a leading provider of Proton Exchange Membran...
TOPOLOBAMPO, Mexico -- The Sembrando Vida Program and Pacifico Mexinol (Mexinol), a subsidiary of Transition Industries, have signed the first partnership agreement between the Sembrando Vida progr...
Milkywire Announces 15 New Carbon Removal Purchases and 3 Grants After Extensive Selection Process
Thanks to our corporate supporters, Milkywire has financed climate solutions through its Climate Transformation Fund (CTF) since 2021 to help reach global net zero. Catalyzing the nascent carbon re...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.