Gabon recruits TotalEnergies for forest management programme
SUMMARY
TotalEnergies will work with Compaigne des Bois du Gabon to devise improved forest management models.
By Callum CyrusPOSTED IN:
TotalEnergies has partnered with Gabonese forestry organisation Compaigne des Bois du Gabon (CBG) to explore forest management models that encourage sustainable, biodiverse forestry outcomes, the French major said June 15.
Not only has TotalEnergies partnered with Gabon, but it has also taken a 49% stake in CBG, after acquiring the capital from private equity firm Criterion Africa Partners.
The new forest management model will combine sustainable wood harvesting and processing with carbon storage and, further more, producing carbon credits that reflect the new model's reduced environmental impact, including forest operations, reforestation, agroforestry and conservation of natural forests.
CBG is responsible for the sustainable management of 600,000 forest hectares, certified to Forest Stewardship Council standards. It is a key player in Gabon's climate and natural resources strategy, "Green Gabon", which aims to come up with sustainable policies that benefit the population and limit climate change.
TotalEnergies president of exploration and production, Nicolas Terraz, said: "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."
