TOTALENERGIES SE: Gabon: TotalEnergies and Compagnie des Bois du Gabon Join Forces to Develop a New Forest Management Model Combining Wood Production and Carbon Sinks
15 Juin 2022 - 8:28AM
UK Regulatory
TIDMTTE
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Compagnie des
Bois du Gabon (CBG) have joined forces to develop a forward-looking
model of sustainable and responsible forest management that
combines sustainable harvesting, biodiversity conservation, and
long-term carbon storage. TotalEnergies has become CBG's leading
partner after acquiring 49% of its capital from Criterion Africa
Partners.
CBG is a key player in Gabonese forestry, recognized for its
responsible and sustainable management of 600,000 hectares of
forest, certified to the highest international standards of the
Forest Stewardship Council (FSC), and for its ongoing contribution
to protecting biodiversity.
The forest management model applied by the partners will make it
possible to develop a new balance between, on the one hand, the
harvesting and local processing of sustainable wood combined with
carbon storage and, on the other, the production of related carbon
credits thanks to the reduced impact of forest operations,
reforestation, agroforestry and conservation of natural forests.
This new model is in line with the "Green Gabon" vision of the
Gabonese authorities -- the country's development strategy to
sustainably manage its natural resources for the benefit of the
population -- as well as Gabon's climate policy.
"We are pleased to join forces with CBG to support the evolution
of Gabonese forestry. This is a key economic sector for the
country, and we will help develop its carbon sequestration capacity
in compliance with the highest international standards. This is an
innovative partnership both by nature and ambition," said Nicolas
Terraz, President of Exploration & Production at TotalEnergies.
"We are also particularly delighted to extend our activities in
Gabon to sustainable and responsible forest management, after more
than 90 years of investment and economic activity in the
exploitation of the country's hydrocarbon resources."
"Climate change and nature loss call for action. This is a
long-term ambition that requires re-thinking certain models,
challenging current practices and innovating. Forests are of
crucial importance in the fight against climate change. We need to
anticipate and be progressive to meet the challenges for the
population, the country of Gabon, biodiversity and climate," said
Hubert and Guillaume Fenart, CEOs of CBG. "The arrival of a major
player like TotalEnergies will make it possible to expand CBG's
activities and develop large-scale carbon initiatives within the
framework of Gabon's climate law."
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
About TotalEnergies Nature Based Solutions
As part of its climate ambition, and in addition to its priority
actions to avoid and reduce emissions, TotalEnergies works with
many local partners around the world to develop and conserve
natural carbon sinks, while helping to preserve their biodiversity.
These operations follow a long-term approach of sustainable and
integrated economic development of areas with local communities.
TotalEnergies plans to spend $100 million per year to build a
portfolio of projects capable of generating at least 5 million
metric tons of CO2e of carbon credits per year by 2030. These
carbon credits will be used after 2030 to offset the Company's
scope 1 & 2 emissions.
About CBG
The Compagnie des Bois du Gabon (CBG) manages 600,000 hectares
of forest in Gabon to the highest international standards. This
forest is fully certified under the FSC(R) certification scheme. It
is located in the southwest of the country, between two National
Parks. Integrating the principles of shared value creation, CBG is
committed to responsible industrial development, respect for
people, job preservation and biodiversity management. More than 600
employees work daily to make CBG an example of sustainable and
responsible management in the Congo Basin. The timber products from
CBG's peeled veneer production plant and sawmill, both located in
Port-Gentil, are renowned on the most demanding world markets.
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l
ir@totalenergies.com
@TotalEnergies TotalEnergies TotalEnergies TotalEnergies
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forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
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inaccurate in the future and are subject to a number of risk
factors. Neither TotalEnergies SE nor any of its subsidiaries
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information or statement, objectives or trends contained in this
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TotalEnergies' financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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SOURCE: TotalEnergies SE
Copyright Business Wire 2022
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