Grande Mayumba and Corà Wood Gabon to form Joint Venture to strengthen Forestry and Timber Businesses
How much capital investment is required to deliver the Grande Mayumba project?
The Grande Mayumba project requires over $150 million in capital investment in the forestry, agriculture, infrastructure, ecotourism and fisheries businesses.
Does African Conservation Development Group have all the necessary permits and approvals to begin construction?
Yes. African Conservation Development Group has signed all necessary core agreements with the Gabonese Republic, including an investment and development agreement with an effective 50-year state lease (including renewable periods). Additionally, African Conservation Development Group has signed an ecotourism and sustainable development agreement with the National Parks Agency (ANPN), a forestry concession agreement with the Ministry of Forests, Environment and Climate Planning and a port convention agreement with Office des Ports et Rades du Gabon (OPRAG).
How will African Conservation Development Group monitor its efforts to protect carbon stocks and biodiversity?
The monitoring system for carbon stocks is based on credible measurement, reporting and verification (MRV) of project activities and is one of the most critical elements in the African Conservation Development Group methodology. The first step was to establish the base standing stocks of carbon in the project area through forest inventory and remote sensing. African Conservation Development Group will continue to measure changes in carbon stocks and monitor threats through on the ground presence and remote sensing, with data verified by third party institutions.
Grande Mayumba’s exceptional biodiversity is the region’s greatest asset. Grande Mayumba’s activities are carefully planned to protect biodiversity through continuous monitoring and enforcement patrols in conjunction with the National Parks Agency (ANPN). Moreover, a conservation arc covering 210,000 hectares across coastal, estuarine, montane, marine and savannah ecosystems has been established.
How does the Sustainable Development Credits system work? Are these recognised and tradable outside Gabon?
A Sustainable Development Credits (SDC) system was established in Gabon in 2014 following the passing of the country’s Sustainable Development Law. Under the Law, projects that deliver sustainable benefits against an agreed baseline are granted SDCs, while those that have environmental impacts above the national baseline may be required to purchase SDCs or invest in sustainable development projects.
How does African Conservation Development Group advance the UN Sustainable Development Goals?
African Conservation Development Group aims to make a significant contribution to the UN Sustainable Development Goals, notably in the Mayumba area where the project will have the greatest direct impact. The project contributes to the achievement of the SDGs across a wide range of Goals, most notably including: No Poverty (SDG1), Zero Hunger (SDG2), Decent Work and Economic Growth (SDG8), Industry, Innovation and Infrastructure (SDG9), Reduced Inequality (SDG10), Sustainable Cities and Communities (SDG11), Responsible Consumption and Production (SDG12), Climate Action (SDG13), Life Below Water (SDG14), and Life on Land (SDG15).
How will African Conservation Development Group ensure appropriate corporate governance standards are adhered to? Which international standards and principles does the project reflect and adhere to?
African Conservation Development Group’s Corporate Development team is responsible for ensuring appropriate corporate governance standards reflecting international best practices and local regulations, including the Paris Accord, UN Global Compact, ISO 14 000 and the Gold Standard, are adhered to. This includes the continuous monitoring of governance standards, identification of red flags and development of mitigation strategies.
What does success look like for African Conservation Development Group?
Success for African Conservation Development Group means preserving the region’s unparalleled biodiversity and ensuring that huge carbon losses and environmental degradation are avoided, whilst creating a resilient and sustainable local economy for generations to come. African Conservation Development Group aims to pioneer holistic and integrated development in Africa and prove empirically that conservation-led development is the key to sustainable growth in the Congo Basin.