RCS - Woodbois Limited - COP26 Update

WoodboisAnnouncement

11/11/2021 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211111:nRSK0239Sa&default-theme=true

RNS Number : 0239S  Woodbois Limited  11 November 2021

11 November 2021

Woodbois Limited

("Woodbois", the "Group" or the "Company")

 

COP26 Update

 

Woodbois Limited (AIM: WBI), the African-focused forestry, timber trading,
reforestation and voluntary carbon credit company, is pleased to provide an
update on the Company's participation at the United Nations Climate Change
Conference ("COP26").

 

A number of the Company's Board members and senior leadership team have been
in Glasgow, actively engaging with key stakeholders and taking part in
discussions on tackling climate change and promoting the role that Woodbois
can play in supporting host countries and international businesses in
achieving their pledges.

 

Woodbois attended COP26 having been accredited to participate by the
Government of Gabon, a country where it already has over 166,000 hectares of
concessions for sustainable forestry.  Woodbois held meetings with Gabon's
Minister of Forests, Oceans, Environment and Climate Change, and other
government representatives. Gabon, one of the few net carbon absorbing
countries, has enshrined sustainable forestry practice in law and has lobbied
throughout COP26 for developed nations to recognise the value to the planet of
the Congo basin's forests as carbon sinks.

 

The Woodbois team also met Ministers of Forestry and the Environment from
multiple other African countries, who were universally interested in the
potential benefits of following our model of sustainable forestry and carbon
sequestration through scaleable reforestation projects.

 

Members of Woodbois' carbon team will be at COP26 for the remainder of the
conference and can be contacted via Ilene.hardy@woodbois.com should any
delegates wish to meet them in person. The Company's activity can be followed
on Twitter and LinkedIn.

 

 

Commenting on Woodbois' participation at COP26, Executive Chair, Paul Dolan,
said:

 

"While the final outcome from COP26 currently remains in the balance, what has
been clearly evident throughout the conference is the willingness of the
private sector to mobilise capital for nature-based solutions in order to
address global warming. Evidence of a climate crisis and the value of the
earth's remaining tropical forests as a key mitigant, is recognised by people
throughout the world and can no longer be ignored by policy makers. While we
hope for a COP26 outcome containing strong commitments to action from the 180+
countries in attendance, our conviction is that regardless of outcome, a
framework for a global carbon market bringing the ability to price carbon
emissions and offsetting sequestration is inevitable, and we will continue to
position the Company accordingly."

 

 

Enquiries:

 

 Woodbois Limited

 Paul Dolan - Executive Chair                      + 44 (0)20 7099 1940

 Federico Tonetti - CEO

 Canaccord Genuity (Nominated Advisor and Broker)  + 44 (0)20 7523 8000

 Henry Fitzgerald-O'Connor

 James Asensio

 Thomas Diehl

 Celicourt Communications (IR/PR)                  +44 (0)20 8434 2643

 Mark Antelme                                      woodbois@celicourt.uk (mailto:woodbois@celicourt.uk)

 Jimmy Lea

About RNS Reach announcements

This is an RNS Reach announcement. RNS Reach is an investor communication
service aimed at assisting listed and unlisted (including AIM quoted)
companies to distribute media only / non-regulatory news releases into the
public domain. Information required to be notified under the AIM Rules for
Companies, Market Abuse Regulation or other regulation would be disseminated
as an RNS regulatory announcement and not on RNS Reach.

 

 

Background on Woodbois

Woodbois Limited (AIM:WBI) is an African focused forestry company, divided
into three distinct, but highly complementary divisions comprising the
production and supply of sustainable African hardwood products, the trading of
hardwood and hardwood products, and a reforestation and carbon credit
division.

 

Woodbois' forestry division has production facilities in Gabon and Mozambique,
managing a total of c470,000 hectares of natural forest concessions. The
trading division comprises a highly experienced team of timber specialists,
who source and supply sustainable timber to a global customer base. Its
proprietary technology developed in-house, captures, stores and presents data,
providing a matching engine to build scale and optimise trading opportunities
with its global customer base.

 

The Company's carbon sequestration and trading division, which was formed in
March 2021, aims to generate voluntary carbon credits for corporate partners
through the delivery of large-scale reforestation projects.

 

The Company's focus on the transparency and sustainability of its timber
operations has been recognised by The Zoological Society of London, which
ranked Woodbois joint sixth in its Sustainability Policy Transparency Toolkit
('SPOTT'') ESG policy transparency assessments for the worldwide timber and
pulp industries for 2021.

 

Please follow the Company on Twitter: @WoodboisLtd

 

 

 

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAGPGBGGUPGPWU