Is Redd all about forests?
Active forest protection through climate investments
Currently, deforestation causes around 20 percent of the world's greenhouse gases and costs the global economy US $ 4.5 billion a year 1. In addition to the negative effects on flora and fauna, deforestation also endangers the livelihoods of many people. Around a billion people worldwide depend on forest products for food, medicine, fuel and shelter.
The UN program REDD (Reducing Emissions from Deforestation and Degradation) offers a solution that is as simple as it is convincing: Forests and their ability to store carbon dioxide are given a monetary value. In just a few years, cutting down trees would mean burning money. "Without REDD, the international community will not achieve its climate protection goals," said Armin Sandhövel, CEO of Allianz Climate Solutions GmbH.
Allianz already took on a pioneering role in 2011: The group acquired a ten percent stake in Wildlife Works Carbon LLC ("WWC"), an organization that implements REDD + projects in developing and emerging countries. Such projects have helped save local animal species such as mammals and birds from extinction and have created new jobs for the local population e.g. B in. The tourism industry and created as a park ranger. Climate protection projects of this kind enable benefits for the local community and their environment while being financially viable. WWC projects must meet strict sustainability criteria and are the first of their kind to issue CO2 certificates.
"The alliance's participation in WWC clearly shows that market-oriented REDD + projects can and must be an integral part of forest protection. We are extremely pleased that in the alliance we have found an efficient partner in our efforts to protect endangered forests worldwide." says Mike Korchinsky, founder and CEO of WWC. REDD + offers enormous potential around the globe, which makes this project an increasingly attractive capital investment for institutional investors like Allianz. By investing in WWC, Allianz can gain experience in this promising market at an early stage and benefit from the opportunities presented here.
In addition, the alliance is not only investing in WWC, but has also secured the rights to CO2 certificates for a WWC project in Kenya. By purchasing these emission rights, Allianz neutralizes its own CO2 emissions in order to achieve the goal of CO2 neutrality. Allianz has been 100% climate neutral since 2012. The WWC project in Kenya combines forest protection with development initiatives for the local population, such as the environmentally friendly production of charcoal, eco-tourism and the management of nature parks - everyone benefits: the locals, investors and the environment.
The alliance has continued its climate-friendly investments within the framework of the UN-REDD project. In 2013, Allianz invested in the Rimba Raya project in the tropical jungle on Borneo (Indonesia).
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