The successful funding and launch of ARR has played a role in decarbonization efforts in the U.S. In 2022,
five of ARR's royalties on wind and solar projects were operating for the full year. These projects
collectively generated 2 million megawatt hours (“MWh”) of renewable electricity with zero emissions.
The primary source of electricity generation in Texas and Kansas, where our projects are located, is
natural gas. Converting the total MWh generated into tonnes of carbon dioxide equivalent (“CO e”), we
estimated the amount of CO e that would have been emitted if our renewable generation had not been
added to the grids. Considering our royalty percentages, which vary across projects, 95,043 tonnes of
CO e were avoided as a result of renewable energy generation replacing predominantly non-renewable
sources in the ERCOT and SPP South grids of Texas and Kansas.
Find more information about avoided emissions on page 19 of our 2022 Sustainability Report.