DGB works with businesses and governments across the globe to help realise decarbonisation pathways across industries, based on a thorough understanding of their environmental risks and opportunities in specific sectors, as well as offering opportunities for investors to channel capital into rigorously monitored nature-based solutions.
After extensive research to identify the most appropriate project, DGB chose to invest in the Miro Sustainable Plantation project due to its capacity to create new forests that sequester carbon and contribute to the UN’s Sustainable Development Goals. Importantly for DGB, these positive impacts are being audited and verified by the leading carbon standard known as the Verified Carbon Standard (VCS).
Located in Northern Sierra Leone, the Miro Sustainable Plantation project repurposes degraded land by planting carefully-selected trees to create a sustainable plantation that will span 12,000 hectares and sequester approx. 55,000 tonnes of CO2e on average each year. Following the internationally-recognised FSC certification, the forest provides sustainable timber, creates rural employment opportunities and delivers additional benefits such as better water access and education support. It also ensures the financial security of the local community, with the land leased on fair, long-term agreements. The project implementation partner is Miro Forestry, an established sustainable forestry company with a proven track record of success in managing plantation forestry businesses in West Africa.
By investing, DGB is ensuring that the project succeeds, while sending a positive signal to the market to ramp up supply of high-quality, certified reforestation projects within the voluntary carbon market. This helps to accelerate reforestation and additionally improves air quality, creating oxygen and removing air pollution from the atmosphere.
On a local level, the project promotes sustainable farming for increased food production as well as the sustainable cultivation of trees. In consultation with local farmers, the project also works to open up the swampy areas for increased rice cultivation and controlled agroforestry that will keep the land full of nutrients for long-term efficiency.
DGB’s investment will result in approximately 128,000 tonnes of verified emission reductions produced by trees planted with this capital.
This agreement will allow DGB to implement it’s West African strategy based on shareholder value, it adds sustainability standards, environmental and social development benefits; with a passionate and determined team and supportive stakeholders.