After a disappointing track record over the past two decades, carbon credit markets are back in style. Also known as “offsets,” carbon credits are having a renewed moment, as corporations and governments look to reach their climate targets partially by banking emissions savings elsewhere. At COP26 in Glasgow last November, countries agreed on new rules […]
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.
Total to plant 40,000-hectare forest in Congo
The project is forecast to sequester more than ten million tonnes of carbon dioxide over 20 years
Image: Shutterstock
Energy major Total has partnered with French consulting organisation Forêt Ressources Management to plant a 40,000-hectare forest in the Republic of the Congo.
The new forest is predicted to create a carbon sink that will sequester more than ten million tonnes of carbon dioxide during a 20-year period.
The project, which is financed by Total, will include agroforestry practices developed in partnership with the local communities and will support agricultural production and provide ‘sustainable wood energy’.