SAFC will plant on degraded lands near the Kapshagai water reservoir in south-eastern Kazakhstan, around 100 km from the city of Almaty, and undertake the on-ground forestry for the project. The seedlings for the afforestation will be supplied from a dedicated nursery created by SAFC in the vicinity. In addition to the positive ecological effects, the activities will impact the local, social and economic environment of the project by generating job and training opportunities for people in the area.
As project partner, SEFE will provide on top of its capital investment, project design, monitoring, reporting and verification expertise, and marketing services. The investment will form part of SEFE’s growing carbon project portfolio being developed to service its customers’ and own sustainability goals.
Alexander Demidov, Executive Vice President Portfolio Management at SEFE highlights: “SEFE is committed to becoming a European energy major in the global low-carbon economy. Investing in high-quality carbon removal projects such as this will form a key component of meeting our collective Paris-aligned climate goals. This project will help SEFE and its customers achieve their sustainability goals by producing over one million tonnes of emission removals and associated offsets.”
SAFC CEO and founder Yuriy Kim comments: “SAFC is delighted to be partnering with SEFE to develop this flagship carbon project in Kazakhstan. This project is supported by the President of Kazakhstan and the National Chamber of entrepreneurs, and we are now starting its practical implementation. By combining the expertise of SEFE and SAFC we will demonstrate the significant opportunities for Kazakhstan to attract foreign investment to develop and deliver high-quality nature-based carbon projects. We look forward to further expanding the scope of the project and our collaboration with SEFE within the framework of the cluster development program supported by the government and development organizations of Kazakhstan.”
