Gabon: TotalEnergies and Compagnie des Bois du Gabon join forces to develop a new forest management model combining wood production and carbon sinks

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PARIS–(BUSINESS WIRE)–Regulatory news:

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Compagnie des Bois du Gabon (CBG) have joined forces to develop a forward-looking model of sustainable and responsible forest management that combines sustainable logging and biodiversity conservation and long-term carbon storage. TotalEnergies becomes CBG’s first partner after acquiring 49% of its capital from Criterion Africa Partners.

CBG is a key player in Gabonese forestry, recognized for its responsible and sustainable management of 600,000 hectares of forest, certified to the highest international standards of the Forest Stewardship Council (FSC), and for its continuous contribution to the protection of biodiversity.

The forest management model applied by the partners will make it possible to develop a new balance between, on the one hand, the harvesting and local transformation of sustainable wood combined with carbon storage and, on the other hand, the production of associated carbon credits thanks to to the reduced impact of forestry operations, reforestation, agroforestry and the conservation of natural forests. This new model is part of the “Green Gabon” vision of the Gabonese authorities – the country’s development strategy to sustainably manage its natural resources for the benefit of the population – as well as Gabon’s climate policy.

“We are pleased to partner with CBG to support the evolution of Gabonese forestry. It is a key economic sector for the country, and we will contribute to developing its carbon sequestration capacity in compliance with the highest international standards. This is an innovative partnership both by nature and by ambition”, declared Nicolas Terraz, President Exploration & Production of TotalEnergies. “We are also particularly pleased to expand our activities in Gabon to sustainable and responsible forest management, after more than 90 years of investment and economic activity in the exploitation of the country’s hydrocarbon resources.”

“Climate change and the disappearance of nature call for action. It is a long-term ambition that requires rethinking certain models, questioning current practices and innovating. Forests are of great importance crucial in the fight against climate change. We must anticipate and be progressive to meet the challenges of the population, the Gabonese country, biodiversity and the climate”, said Hubert and Guillaume Fenart, CEO of CBG. “The arrival of a major player like TotalEnergies will make it possible to expand CBG’s activities and develop large-scale carbon initiatives within the framework of Gabonese climate law.”

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewable energies and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Present in more than 130 countries, TotalEnergies places sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

About TotalEnergies Nature-Based Solutions

As part of its climate ambition, and in addition to its priority actions to avoid and reduce emissions, TotalEnergies works with many local partners around the world to develop and preserve natural carbon sinks, while helping to preserve their biodiversity. . These operations are part of a long-term approach to sustainable and integrated economic development of territories with local authorities. TotalEnergies plans to spend $100 million per year to build a portfolio of projects capable of generating at least 5 million metric tons of CO2e of carbon credits per year by 2030. These carbon credits will be used after 2030 to offset carbon emissions. scope 1 & 2 of the company.

About CBG

Compagnie des Bois du Gabon (CBG) manages 600,000 hectares of forest in Gabon to the highest international standards. This forest is fully certified according to the FSC® certification system. It is located in the southwest of the country, between two national parks. Integrating the principles of creating shared value, CBG is committed to responsible industrial development, respect for people, job preservation and biodiversity management. More than 600 employees work daily to make CBG an example of sustainable and responsible management in the Congo Basin. The wood products from the peeled veneer production plant and the CBG sawmill, both located in Port-Gentil, are renowned in the most demanding world markets.

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Caution note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. Similarly, the words “we”, “us” and “our” may also be used to refer to these entities or their employees. The entities in which TotalEnergies SE directly or indirectly holds a stake are separate legal entities. This document may contain forward-looking information and statements based on certain economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries undertakes any obligation to publicly update any forward-looking information or statements, objectives or trends contained herein, whether as a result of new information, future events or others. Information concerning the risk factors likely to affect the financial results or the activities of TotalEnergies is provided in the most recent Universal Registration Document, the French version of which is filed by TotalEnergies SE with the Autorité des Marchés Financiers ( AMF), and in Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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