Invictus awarded carbon offset projects in Zimbabwe's largest forested areas
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Loading... - Patricia Ekai
- 03 Aug 2022
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Independent upstream oil & gas company Invictus Energy Limited (ASX:IVZ) has signed a 30-year contract with the Forestry Commission of Zimbabwe (FCZ) for the development of a project in the Ngamo-Gwayi-Sikumi (NGS) region.
The NGS REDD+ project will empower Invictus to fully offset all Scope 1 & 2 emissions produced during the entire lifecycle of the company’s Cabora Bassa Project in Zimbabwe which contains the world-class Mukuyu prospect. It will uniquely position Invictus and the Cabora Bassa project as one of the first cradle to grave carbon neutral oil and gas companies and projects in the world.
Significance of REDD+ framework
Covering nearly 301,565 hectares of indigenous forest in Zimbabwe, the combined NGS project has been categorized as a Reducing Emissions from Deforestation and forest Degradation (REDD+) project.
FCZ has awarded the NGS REDD+ project to Invictus with the prime purpose of protecting the indigenous forests. All programs designed to mitigate deforestation activities will be strictly implemented.
Following a sustainable plan to manage emissions, the project may be renewed for another term of 30 years. Read More…
