PARIS–(BUSINESS WIRE)–Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and Forêt Ressources Management have signed a partnership agreement with the Republic of the Congo to plant a 40,000-hectare forest on the Batéké Plateaux.
The new forest will create a carbon sink that will sequester more than 10 million tons of CO
2 over 20 years, to be certified in accordance with the Verified Carbon Standard (VCS) and Climate, Community & Biodiversity (CCB) standards. The project, financed by Total, includes agroforestry cultures developed with the local communities for agricultural production and sustainable wood energy. By 2040, responsible management through selective cutting will promote the natural regeneration of local species and provide Brazzaville and Kinshasa with lumber and plywood.