CIRRUS ADVISORY SERVICES
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
"New Forests Company" or NFC, is one of the largest forestry companies in East Africa (40 million planted trees – 26,656 hectares plantation and 51,744 hectares land bank). It is an integrated forestry company founded in 2004 with operations ranging from the tree nurturing phase to the sales of finished goods (mainly transmission poles) in Uganda, Tanzania and Rwanda. The contractual relationship will be between FMO and the Consultant.
What is our funding objective?
The aim of this project is to quantify the amount of avoided greenhouse gas (GHG) emissions associated with FMO's investment in NFC. This will be achieved by the development of a tool and undertaking an assessment that accounts for operational GHG emissions of NFC’s business, and GHG emissions and CO2 sequestration due to the growth and harvesting of plantation forests, downstream processing and sales.
Why do we fund this investment?
This project is of high strategic relevance. It is fully in line with FMO’s climate change finance strategy and FMO's wish to quantify and elaborate upon the extent to which its investments reduce its carbon footprint.
- Region
- Africa
- Country
- Africa
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 3/2/2016
- End date
- 7/8/2019
- Total FMO financing
- EUR 0.02 MLN
- Funding
- FMO NV