Repsol Social Impact, Sylvestris and Land Life Company will boost together reforestaton projets in Iberia and Latin America18.11.2020
The aim of this joint venture, which is expected to be incorporated by the beginning of next year, will be the development of reforestation projects to generate Carbon credits for a growing voluntary market for CO2 emissions compensation. This market will play a key role in the strategy of companies committed to reach zero net emissions targets.
These projects have a positive environmental impact, because they will help mitigate climate change, restore degraded ecosystems and prevent fires. In addition, the projects entail a social impact in the areas of action, by creating employment in rural areas and avoiding further depopulation of these areas.
To show their commitment, Repsol Social Impact, Land Life Company and Sylvestris have been already working together in the execution of an ambitious reforestation Plan in Spain to plant 350,000 trees. The works have already started in three locations affected by forest fires and abandoned agriculture: Monbeltrán, Cuevas del Valle and Fresno del Río, in Castilla y León, and Ejulve in Aragon. Thanks to this project an estimated 108,000 tons of CO2 will be captured from the atmosphere.
The plantings has already begun and it will be executed in accordance with the standards of the Spanish Office for Climate Change (OECC) and is registered in the Carbon Footprint Registry, Offsets and Carbon Dioxide Absorption Projects, a national registry created for this purpose by the OECC.
For Antonio Brufau, Chairman of Repsol and its Foundation: “This partnership combines the efforts of our investee company, Sylvestris, with Landlife to implement large-scale impact projects in the shortest possible time, reinforces our strategy of developing projects that contribute to the energy transition and it is aligned with Repsol's objective of being a net zero emissions company by 2050”.
Both Land Life Company and the Sylvestris Group will team up their capacities to optimize the execution of the plantings. In addition to Sylvestris`s expertise and technology, their social impact model will promote employment in the local communities. Land Life, Company applies technology across the reforestation value chain to increase the scale, efficiency and transparency of the tree plantings.
For Jurriaan Ruys, CEO at Land Life Company: ““We’re very excited about this partnership because we belive that joining forces is vital to increasing the scale of reforestation in Spain. The three partners have complementary skills and a shared, bold vision. With reforesting degraded land in northern Spain, which is affected by forest fires and abandoned agriculture our collaboration is off to a great start.”
Enrique Enciso, one of the founders of Sylvestris Group: “This collaboration opens the door to new and exciting opportunities. Francisco Martínez, another of the founders: “Together we will multiply our impact, both on environment and society not only in Spain but also in Portugal and Latin America.”
Repsol Social Impact
Repsol Social Impact is a company 100% owned by Fundación Repsol, whose objective is to contribute to a sustainable energy transition and create opportunities for vulnerable groups through a network of economically sustainable companies that generate social and environmental impact in Spain and Portugal. The activity segments of these companies are emissions reduction, sustainable mobility, circular economy, energy efficiency and eco products and services. In addition to Sylvestris, Repsol Social Impact has stakes in SAEMA, a company dedicated to the recovery, recycling of plastics and packaging; Koiki, dedicated to the sustainable distribution of the last mile and in GNE Finance, focused on providing integral solutions for the rehabilitation of eco-sustainable urban homes in vulnerable areas.
Regarding Land Life
Land Life Company is a technology-driven reforestation company that plants trees at scale, offering corporations and organizations a sustainable and transparent way to take climate action andcompensate carbon emissions through nature restoration. With a mission to help restore the 2 billion hectares of degraded land in the world, Land Life Company applies data and technology, such as drones, artificial intelligence and monitoring applications, to every step of the planting process. Planting trees where it is needed most, Land Life Company’s projects revitalize important ecosystems, improve biodiversity and create social and economic benefits to local communities. It’s impact you can see.
Sylvestris is a social company focusing in forests and rural development that generates employment for vulnerable groups. Created in 2013 by two forestry engineers, Enrique Enciso and Francisco Martínez, it has three business lines: sowing and plantations, unique gardening in cities and environmental consulting. Its mission is to fill the world with trees, achieve a greener and healthier environment, counting on the work of people with disabilities, at risk of social exclusion. Repsol Social Impact has a 21.39% stake in Sylvestris.