Total and Forêt Ressources Management to Plant a 40,000-Hectare Forest in the Republic of the Congo
16 March 2021 - 6:21PM
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 CO2 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.
“With this project on the Batéké Plateaux, Total is committing
to the development of natural carbon sinks in Africa. These
activities build on the priority initiatives taken by the Group to
avoid and reduce emissions, in line with its ambition to get to net
zero by 2050. They will also help to showcase the Congo’s natural
potential and to extend our long-term partnership with the country,
where we have been present for fifty years, " said Nicolas
Terraz, Senior Vice President Africa, Exploration & Production
at Total.
“We want to develop these projects with recognized partners,
such as FRM, who have a great deal to teach us, while concerting
with relevant regions to anchor our commitment in the long term and
contribute to local development,” added Adrien Henry, Vice
President Nature Based Solutions at Total.
The project is designed to produce multiple social, economic and
environmental benefits. The planting of Acacia mangium and
auriculiformis trees on sandy plateaux exposed to recurring
bushfires will create a forest environment that will ultimately
help broaden the ecosystems’ biodiversity. The project will create
employment opportunities, with a positive impact on several
thousand people. In addition, a local development fund will support
health, nutritional and educational initiatives to benefit
neighboring villages.
“The more than 10 million hectares of land reserves on the
Congo’s Batéké Plateaux offer a fantastic way to combat climate
change at the global level and a unique opportunity for sustainable
socio-economic development in isolated regions of the country,”
noted Bernard Cassagne, Chairman and CEO of Forêt Ressources
Management.
“This ambitious and exemplary project is part of PRONAR, the
national afforestation/reforestation program launched in 2011 to
expand the country’s forest cover and increase carbon storage
capacity, create new wood-based businesses to diversify the
national economy, and foster the emergence of a green economy in
the Republic of the Congo,” concluded Rosalie Matondo, Minister
of the Forest Economy of the Republic of the Congo.
About Forêt Ressources Management The Forêt Ressources
Management Group (FRM) is a major player in the wood, forestry and
agroforestry plantation sector in Africa. FRM has more than 30
years of experience in forestry, tropical forests and consulting
services for the wood industry. The CEO and his team of engineers
have forged strong ties with forestry companies, the forest
products and wood industries, local authorities, civil society and
international lenders in numerous countries with major forestry
challenges to manage existing resources or develop new resources
through tree-planting programs.
About Total Nature Based Solutions In line with its
ambition to get to net zero emissions by 2050 and alongside its
initiatives to avoid and reduce emissions, Total announced the
creation of its new Nature Based Solutions (NBS) unit in June 2019
to develop natural carbon sinks to sequester the remaining tons of
CO2 from its operations. Backed by an annual budget of $100
million, Total’s objective is to participate in the development of
sustainable sequestration capacity of at least 5 million tons of
CO2 per year from 2030, while contributing to the preservation of
biodiversity, and the sustainable development of local
communities.
About Total Total is a broad energy company that produces
and markets fuels, natural gas and electricity. Our 100,000
employees are committed to better energy that is more affordable,
more reliable, cleaner and accessible to as many people as
possible. Active in more than 130 countries, our ambition is to
become the responsible energy major.
Present in the Republic of Congo for more than 50 years, Total
is the country's leading energy producer and distributor.
* * *
Cautionary Note This press release, from which no legal
consequences may be drawn, is for information purposes only. The
entities in which TOTAL SE directly or indirectly owns investments
are separate legal entities. TOTAL SE has no liability for their
acts or omissions. In this document, the terms “Total”, “Total
Group” and Group are sometimes used for convenience. Likewise, the
words “we”, “us” and “our” may also be used to refer to
subsidiaries in general or to those who work for them. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TOTAL SE nor any of its subsidiaries assumes
any obligation to update publicly any forward-looking information
or statement, objectives or trends contained in this document
whether as a result of new information, future events or
otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210316005420/en/
Total Media Relations: +33 1 47 44 46 99 l
presse@total.com l @TotalPress Investor Relations: +44 (0)207 719
7962 l ir@total.com
TOTAL (NYSE:TOT)
Historical Stock Chart
From Mar 2024 to Apr 2024
TOTAL (NYSE:TOT)
Historical Stock Chart
From Apr 2023 to Apr 2024