Together with Lundin Energy, 8 million trees will be planted in the coming five years
Amsterdam, 22 March 2021- Reforestation company Land Life and Lundin Energy have joined forces to work on a high-impact, tech-driven and multi-geography reforestation programme that consists of projects on degraded land. The partnership is Land Life’s largest to date, as the company will be planting approximately 8 million trees to restore thousands of hectares of land. This will result in the removal of 2.6 million tons of CO2 from the atmosphere over a time span of 40 years.
”We are beyond excited to collaborate with Lundin Energy to get millions of trees in the ground that will not only tackle climate change but also kick-start important ecosystems and drive investment into rural communities,“ says Rebekah Braswell, CCO and founding member of Land Life Company. “Lundin Energy has been uniquely focused and results orientated in their plan to show how they are going to reduce carbon emissions and commit to positive climate action.”
Land Life Company always works on land with strong permanence, additionality and governance. For year one of the partnership, Land Life Company will reforest 1,000 hectares in Spain and 500 hectares in Ghana by planting a diverse mix of native species. It will be the first time Land Life Company plants trees in Ghana. Adding this new geography to its portfolio creates room for the company to increase its scale.
To start this initiative, Land Life has partnered with EcoPlanet Bamboo to restore an initial 500 hectares of EcoPlanet’s 11,145 hectare West African operation. The land has been degraded through a combination of charcoal driven deforestation and wildfires. This partnership will create significant environmental and climate benefits, while providing up to 120 members from the local communities with employment opportunities during the first planting season to get the trees into the ground.
In the region of Castilla y León, Spain, where planting will also take place, the land has also been severely degraded by wildfires and overgrazing. The specific selection of trees that will be planted have been chosen to improve the forest’s resilience to fire.
The ambitious reforestation program is part of Lundin Energy’s broader decarbonization strategy that aims for carbon neutrality from 2025. Lundin will reduce their absolute carbon footprint by over 50% by 2023 through a considerable investment in electrification and renewable energy. Lundin Energy has explicitly chosen to partner with Land Life Company with the goal to invest in natural carbon capture projects as a means to offset their remaining hard-to-abate carbon emissions.
“Not all offsets are created equally.” says Zomo Fisher, Vice President Sustainability at Lundin Energy. “As with everything we do as a Company, quality and authenticity is key, which is why we are proud to work with Land Life Company, who are developing some of the best natural carbon capture projects in the world today. Whilst we continue to drive our overall emission intensity down to the lowest possible levels, we want to avoid just buying offsets from the market and instead focus on proprietary, high-quality projects, that make an actual difference.”
About Land Life Company
Land Life Company is a technology-driven reforestation company that plants trees at scale, offering corporations and organizations a sustainable and transparent way to take climate action and compensate carbon emissions through nature restoration. With a mission to restore the 2 billion hectares of degraded land in the world, Land Life Company applies data and technology, such as drones, artificial intelligence and monitoring applications, to every step of the planting process. Planting trees where it is needed most, Land Life Company’s projects revitalize important ecosystems, improve biodiversity and create social and economic benefits to local communities. It’s impact you can see.
About Lundin Energy
Lundin Energy is an experienced Nordic oil and gas company that explores for, develops and produces resources economically, efficiently and responsibly. We focus on value creation for our shareholders and wider stakeholders through three strategic pillars: Resilience, Sustainability and Growth. Our high quality, low cost assets mean we are resilient to oil price volatility, and our organic growth strategy, combined with our sustainable approach and commitment to decarbonisation, firmly establishes our leadership role in a lower carbon energy future. (Nasdaq Stockholm: LUNE). For more information, please visit us at www.lundin-energy.com or download our app: www.myirapp.com/lundin
About EcoPlanet Bamboo
EcoPlanet Bamboo is leading the industrialization of bamboo as a viable and environmentally attractive alternative fiber for global pulp and paper markets. Incorporated in the United States and with operational headquarters in Kenya, EcoPlanet owns and operates bamboo farms in Nicaragua, South Africa, Ghana and Rwanda, representing more than 15,000 hectares under management. The conversion of degraded land into certified bamboo plantations is coupled with innovative technology to provide solutions for consumer products that currently contribute to the deforestation of our world’s natural forests. Operating since 2010, EcoPlanet Bamboo is a pioneer in landscape scale regeneration of forest lands and ever growing markets for forest based carbon emission removals.