Situation
#itstime
For many countries, encouraging communities to implement alternate ways to sustainably manage forests to drive economic and social benefits, versus deforestation, to cultivate the land, is not easy.
Afforestation is one approach where land that has been without forest for some time or has not been forested in the past is established as a forest. The benefits of afforestation can help protect bare ground from soil erosion, flooding and sequester carbon dioxide from the atmosphere. Well managed afforestation can provide jobs, income from the sale of high-value timber products, social benefits, carbon emission reductions - and in previously forested areas afforestation can reverse biodiversity losses and provide carbon sinks, which are natural environments that are able to absorb carbon dioxide from the atmosphere.
Experience
PwC’s approach to carbon offsetting
#bethesolution
In 2020 PwC announced our worldwide science-based commitment to reach net zero greenhouse gas (GHG) emissions by 2030.
Our commitment to achieve net zero requires us to take responsibility for our carbon emissions. By supporting high-quality voluntary carbon offset projects, we can have an immediate and positive impact.
Our mitigation approach combines carbon offset projects that reduce emissions as well as projects that both avoid and remove emissions from the atmosphere. These solutions help address climate change alongside other UN Sustainable Development Goals. We believe that to reduce the amount of greenhouse gases (GHG) in the atmosphere we will need to deploy a full range of solutions, and our current carbon offset portfolio focuses on both larger markets and developing economies where projects support significant co-benefits such as protecting critical ecosystems and the health and livelihoods in rural communities.
Underpinning our approach is a set of strict quality criteria, including ensuring our offsets are verified by an independent third party to an established standard or protocol.
The Teak Afforestation project in Mexico is just one of the carbon offset projects PwC is proud to support through our global carbon offset portfolio. The project is planting over 4,270 hectares of durable teak wood to harvest for sustainable timber products as well as acting as a sink for carbon dioxide on land that is adjacent to cattle farm, creating an economic model that sustains both farming and forests.¹
Image: Natural Capital Partners
Impact
#togetherwesolve
Located across the States of Chiapas, Nayarit and Tabasco, the project covers 4,270 hectares of land.²
Approximately 390,000 tonnes of emissions reductions are achieved each year in addition to the project creating access to the increasing demand for high-value, long-lived timber products from well managed plantation forests. The sustainable timber this plantation is made up of is Teak, a species that does not require man made irrigation and has resistance to fire and pests.³
The project aims to continue encouraging afforestation projects in local communities, especially on degraded lands and will expand an additional 1,200 hectares each year. In addition the project supports over 400 jobs and nearly 200 young people have visited the project site as part of an employment opportunity initiative, for local youth to develop the skills needed to join the forestry industry.⁴
Image: Natural Capital Partners
¹Natural Capital Partners. 2021. Teak Afforestation, Mexico
²Natural Capital Partners. 2021. Teak Afforestation, Mexico
³Natural Capital Partners. 2021. Teak Afforestation, Mexico
⁴Natural Capital Partners. 2021. Teak Afforestation, Mexico
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Global Corporate Sustainability Managing Director, PricewaterhouseCoopers International Limited
