REG-TotalEnergies SE Gabon: TotalEnergies and Compagnie des Bois du Gabon Join Forces to Develop a New Forest Management Model Combining Wood Production and Carbon Sinks

TotalEnergies SEAnnouncement

15/06/2022 07:30

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Gabon: TotalEnergies and Compagnie des Bois du Gabon Join Forces to Develop a
New Forest Management Model Combining Wood Production and Carbon Sinks

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Compagnie des Bois du Gabon
(CBG) have joined forces to develop a forward-looking model of sustainable and
responsible forest management that combines sustainable harvesting,
biodiversity conservation, and long-term carbon storage. TotalEnergies has
become CBG's leading partner after acquiring 49% of its capital from Criterion
Africa Partners.

CBG is a key player in Gabonese forestry, recognized for its responsible and
sustainable management of 600,000 hectares of forest, certified to the highest
international standards of the Forest Stewardship Council (FSC), and for its
ongoing contribution to protecting biodiversity.

The forest management model applied by the partners will make it possible to
develop a new balance between, on the one hand, the harvesting and local
processing of sustainable wood combined with carbon storage and, on the other,
the production of related carbon credits thanks to the reduced impact of
forest operations, reforestation, agroforestry and conservation of natural
forests. This new model is in line with the “Green Gabon” vision of the
Gabonese authorities – the country’s development strategy to sustainably
manage its natural resources for the benefit of the population – as well as
Gabon's climate policy.

"We are pleased to join forces with CBG to support the evolution of Gabonese
forestry. This is a key economic sector for the country, and we will help
develop its carbon sequestration capacity in compliance with the highest
international standards. This is an innovative partnership both by nature and
ambition," said Nicolas Terraz, President of Exploration & Production at
TotalEnergies. "We are also particularly delighted to extend our activities in
Gabon to sustainable and responsible forest management, after more than 90
years of investment and economic activity in the exploitation of the
country’s hydrocarbon resources."

"Climate change and nature loss call for action. This is a long-term ambition
that requires re-thinking certain models, challenging current practices and
innovating. Forests are of crucial importance in the fight against climate
change. We need to anticipate and be progressive to meet the challenges for
the population, the country of Gabon, biodiversity and climate,” said Hubert
and Guillaume Fenart, CEOs of CBG. "The arrival of a major player like
TotalEnergies will make it possible to expand CBG's activities and develop
large-scale carbon initiatives within the framework of Gabon's climate law."

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

About TotalEnergies Nature Based Solutions

As part of its climate ambition, and in addition to its priority actions to
avoid and reduce emissions, TotalEnergies works with many local partners
around the world to develop and conserve natural carbon sinks, while helping
to preserve their biodiversity. These operations follow a long-term approach
of sustainable and integrated economic development of areas with local
communities. TotalEnergies plans to spend $100 million per year to build a
portfolio of projects capable of generating at least 5 million metric tons of
CO2e of carbon credits per year by 2030. These carbon credits will be used
after 2030 to offset the Company's scope 1 & 2 emissions.

About CBG

The Compagnie des Bois du Gabon (CBG) manages 600,000 hectares of forest in
Gabon to the highest international standards. This forest is fully certified
under the FSC® certification scheme. It is located in the southwest of the
country, between two National Parks. Integrating the principles of shared
value creation, CBG is committed to responsible industrial development,
respect for people, job preservation and biodiversity management. More than
600 employees work daily to make CBG an example of sustainable and responsible
management in the Congo Basin. The timber products from CBG's peeled veneer
production plant and sawmill, both located in Port-Gentil, are renowned on the
most demanding world markets.

TotalEnergies Contacts

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

@TotalEnergies
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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).



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