Uralchem plans to implement a forest climate project

VTB Senior Vice President Dmitry Snesar and Uralchem ​​Deputy General Director Mikhail Genkin signed a memorandum of understanding to implement a forest climate project.

Forest projects are one of the key areas of the Russian low-carbon development strategy. The project of Uralchem includes renewable plantation forestry, processing of felled wood, and wood waste management. Within the framework of the plantation, it’s proposed to implement two directions: the restoration or laying of shelterbelts in the south of the European territory of Russia and the cultivation of existing eucalyptus plantations in the subequatorial climate of Brazil. The project may absorb a significant amount of greenhouse gases and provide a long (over 100 years) storage life of fixed carbon.

“196 member states of the UN Convention on Climate Change have agreed to achieve carbon neutrality under the Paris Agreement. The new forest climate project, as a compensatory measure, has no alternatives. An integrated approach to the cultivation of trees, wood processing, the use of wood materials and products in the construction sector, as well as special methods for the long term and safe conservation of wood waste, can absorb a significant amount of greenhouse gases and guarantee long-term deposit of fixed carbon,” said Mikhail Genkin.

“Uralchem ​​is currently developing a comprehensive climate strategy. We are looking for the best solutions in various areas that will reduce greenhouse gas emissions and help achieve global climate goals. One of the promising areas is the forest climate projects, and we are pleased to develop this unique project together with our partners,” said Angelina Verba, Director for sustainable development and investor relations at Uralchem.