GreenEco Investments LLC participated in the Corporate Investments into Forestry and Biodiversity Summit

On 7-8 September 2021 GreenEco Investments LLC participated in the international Corporate Investments into Forestry and Biodiversity Summit (CIFB).

Forest climate projects aimed at reducing greenhouse gas emissions in the atmosphere were the main focus of the forum. Among the participants of the summit were companies that protect forest ecosystems (BirdLife International, Wildlife Conservation Society), verify climate projects (Verra), provide insurance services for the forest industry (ForestRe) and many others. 

GreenEco Investments LLC presented an overview of the current situation in the implementation of forest climate projects in Russia. The speakers were a Member of the Supervisory Board Igor Kolesnikov, Director of Climate Projects Andrey Ptichnikov and Director of Business Development Denis Subbotin.

Today, the climate change is one of the most pressing topics in the global community. It has extremely negative consequences for the environment and society, and for the states’ economy. In this context, forest climate projects are of particular importance as they can make a significant contribution to achieving the carbon neutrality goals, which the EU, China, Japan and other countries have already announced.

During the presentation, representatives of GreenEco Investments LLC emphasized the high potential of the Russian Federation for the implementation of projects on reforestation, prevention of deforestation, conservation of forest areas and rational use of forests. However, in order to intensify the work on the implementation of such projects, it is necessary to improve the legislative framework, namely to create a national registry of carbon units in order to prevent "double counting" of the implemented projects’ effect.   

To date, two companies have already successfully implemented a number of climate projects in Russia: projects for the conservation of forests of high conservation value ("Terneyles" JSC, project area: 1.8 million ha), and for the protection of virgin forests of the Bikin River and pine-broadleaved forests of the Far East (Russian-German cooperation, project area: 6 million ha).

GreenEco Investments LLC plans to launch a pilot forest climate project that will preserve more than 1 million ha of forest area in the Tyumen Region. Additionally, memorandums of understanding have been signed with the Yaroslavl, Kostroma Regions and Perm Territory, where the company seeks to establish and develop forest climate projects in the nearest future.