– Creates an expected 128,000 tonnes of carbon offsets
– Carbon offsetting secures long-term viability of the project
DGB GROUP (DGB:DGB)
HARDENBERG, OVERIJSSEL, THE NETHERLANDS, March 22, 2021 /EINPresswire.com/ — Dutch Green Business Group N.V. (Euronext: DGB, “DGB” or “the Group”) announces today it has signed a letter of agreement with South Pole, a leading advisor and provider of global climate services, to invest in the Miro Sustainable Plantation project in northern Sierra Leone, West-Africa’s largest sustainable forestry company. This represents a key stage in DGB’s strategy to participate in large carbon offset projects around the world that deliver commercial and environmental benefits.
The highlights of the investment include:
– DGB secures an expected 128,000 tonnes of verified sequestered carbon offsets for its balance sheet with the possibility of future supply as more land is forested
– The investment will help accelerate reforestation in Sierra Leone and will make the project and the local communities more sustainable
DGB’s participation and use of carbon offsetting ensures the long-term viability of the project thanks to its ability to grow trees over a longer time frame using a much wider diversity of planting
– DGB chose to invest in the Miro project due to its capacity to create new forests that sequester carbon and the fact that it contributes to the UN’s Sustainable Development Goals
– The project is audited and verified by Verified Carbon Standard (VCS), the leading carbon standard
– The Miro project repurposes degraded land by planting carefully selected trees creating a sustainable plantation spanning 12,000 hectares and it will sequester c. 55,000 tonnes of CO2e on average each year.
DGB’s vision is to be a leading high-impact investor in sustainably managed forests by providing competitive real investment returns for shareholders combined with high social impact. DGB is underpinned by the value of the carbon offsets it is generating and the inherent asset value of the underlying land in which it is investing. DGB plans to reforest the world’s land at scale and bring back nature where it cannot return unaided. DGB’s strategy is focused on the following:
– Locate and secure land
– Protect and plant trees
– Verify and certify carbon offsets
– Sell the carbon offsets
– Land management
DGB’s investment in Sierra Leone highlights to all stakeholders the opportunity and need for a supply of high-quality, certified reforestation projects within the voluntary carbon market. This helps accelerate reforestation, encourages the creation of and trading in carbon offsets, improves air quality, creates oxygen and cuts air pollution.
On a local level, the project promotes sustainable farming which will deliver increased food production as well as the sustainable cultivation of trees. The project is also focused on swamps and transforming them into areas of increased rice cultivation and controlled agroforestry that will keep the land full of nutrients for long-term efficiency.
Today’s announcement follows on from the news over the last two months that DGB is working with Quadriz in Paraguay to source large-scale native forestland plots in excess of 50,000 hectares for DGB to acquire. DGB and Quadriz are also partnering on forest carbon offset projects to reduce emissions from avoiding planned deforestation and to protect critical primary forest financed through the generation of high-integrity carbon offsets.
Selwyn Duijvestijn, Chief Executive of DGB Group said: “This investment marks an important step forward for DGB as we look to secure participation in sustainable development projects that benefit not only local communities but all stakeholders who are able to utilise carbon offsets. Moreover, the quality of this project highlights the value accretive opportunity presented to DGB and its investors by both carbon credit generation but also the underlying asset value of the land. We continue to look for further investment opportunities and are excited by this latest opportunity.”
DGB GROUP NV
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