Carbon2Nature and Iberdrola's subsidiary in Brazil sign alliance to reduce carbon footprint
Carbon2Nature is partnering with Iberdrola's Brazilian subsidiary, Neoenergía, to develop projects that capture carbon through nature-based solutions that reduce the global carbon footprint, enhance biodiversity and promote a sustainable economy, placing nature as an essential lever for sustainable value creation. These objectives are fully aligned with the corporate strategies of both companies.
The agreement will accelerate the development of conservation, sustainable management and restoration projects in various ecosystems in Brazil, a key country for the development of nature-based solutions worldwide, and where Neoenergia's extensive experience in the Brazilian market will be leveraged to bring the identified projects to success.
An ioint venture is created, which will be 51% owned by Carbon2Nature and 49% by Neoenergia. Most of the projects in Brazil will be forestry projects, but projects focused on marine ecosystems (‘Blue Carbon’) will also be analysed. In the coming years, more than 10 million tonnes of CO2 are expected to be captured through a tree density of 15 million trees spread over more than 19,000 hectares.
Projects are guided by the triple I approach: integrity, innovation and long-term impact. All will be certified against internationally/nationally recognised quality standards, validating their climate contribution to biodiversity enhancement, the well-being of local communities and other Sustainable Development Goals (SDGs).
Carbon2Nature, a growing project
Iberdrola launched Carbon2Nature a year ago with the aim of capturing and fixing in nature more than 60 million tonnes of CO2 through long-term restoration, conservation and sustainable management projects with a high climate, environmental and social impact.
Wholly owned by Iberdrola, it follows the energy company's commitment to a sustainable model based on two priority objectives: to achieve zero net emissions in all areas by 2040 and to have a net positive impact on biodiversity by 2030.
With a global vision, but with an emphasis on the local level, Carbon2Nature is making progress in the development of projects at a global level. In one year, it already has fifteen projects under development and more than 40 under study in ten countries, with a focus on Spain, Mexico, Colombia and Australia. Its strategy focuses on reforestation and sustainable management forestry projects, with more than eleven operational projects in Spain covering an area of more than 2,500 hectares and one under development in Colombia covering more than 5,000 hectares.
It is also positioning itself in projects in marine ecosystems known as blue carbon, developing a mangrove restoration project in Mexico and a pioneering pilot project for planting posidonia meadows in Spain. In its line of innovation, it also has a pilot project underway for methane avoidance in livestock farming in Spain.
In total, its portfolio of projects in operation involves nearly 2 million trees planted or pending execution, which will capture more than 800,000 tonnes of CO2. In addition, there is a large portfolio under negotiation involving the planting of more than 20 million trees and the capture of more than 14 million tonnes of CO2.