TotalEnergies Invests in Sustainable Forestry
TotalEnergies announces that it will contribute an amount of $50 million to the “Tropical Asia Forest Fund 2” (TAFF2) managed by New Forests, which aims at investing in certified plantations and native forest conservation projects in various countries across South-East Asia, including Indonesia, Malaysia, Laos, Cambodia, Thailand, and Vietnam.
TotalEnergies’ investment will contribute significantly to the fund’s goal of building a diverse portfolio of six to eight forestry assets for a total investment of $300 million.
The acquisition, development and sustainable management of these forestry assets will also allow TAFF2 to contribute directly to a variety of economic activities, including lumber, rubber, and carbon credits with co-benefits, thus strengthening local value chains.
The fund will focus on high Environmental, Social, and Governance (ESG) impact activities, in line with the United Nations Sustainable Development Goals (SDGs). All investments will be managed in accordance with the performance standards of the International Finance Corporation (IFC) and the standards developed by international forest certification labels such as the Forest Stewardship Council (FSC) and the Program for the Endorsement of Forest Certification (PEFC).
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