In a collaboration aimed at carbon capture, environmental preservation, combating desertification (UN-SDGs 13 and 15 – Climate Action and Life on Land), Oilinvest and the Public Services Company-Tripoli have joined forces to implement an integrated reforestation and agro-forestation project in Tripoli.
The initiative, which Oilinvest called a landmark collaboration, was presented to key stakeholders from relevant government ministries, regional authorities, environmental NGOs, relevant research centres, academia and local societal representatives held at the stakeholders’ consultation meeting at the Four Points Hotel in Tripoli yesterday.
ARR
This Afforestation, Reforestation and Revegetation (ARR) project, Oilinvest stated, underscores the parties’ shared commitment to reduce carbon emissions, combat desertification, and protect the country’s natural resources.
Signing of an initial strategic agreement
Following a detailed presentation at yesterday’s event by Oilinvest’s Sustainability Team, highlighting the project’s environmental benefits and sustainability objectives, Oilinvest and the Public Services Company formalized their collaboration by signing an initial strategic agreement.
One million trees on 1,450 hectares
The agreement, first announced and reported on in January this year by Libya Herald, aims to plant up to one million trees on a total area of approximately 1,450 hectares at the deteriorated Wildlife Park Tripoli site. The agreement set out the framework for implementing and managing the project and emphasized the Libyan State and the parties’ commitment to lowering carbon emissions and greenhouse gases.
Oilinvest: a zero-emissions energy company by 2050
David Pezzulli, Director of Strategy at Oilinvest, expressed the group’s excitement for the collaboration stating that: “this collaboration further reflects our unwavering commitment to promoting and developing sustainable practices, and to environmental and social responsibility”.
He added, “Oilinvest’s goal is to successfully transition into a zero-emissions energy company by 2050 in alignment with the United Nations and Paris Agreement’s target of limiting global temperature increase to below 1.5°C. We strive to reduce our carbon footprint by leveraging technologies and creative solutions in investing in such nature-based initiatives that capture greenhouse gas emissions and generate Carbon Credits to ensure their long-lasting sustainability”.
Initiative is pivotal in restoring Libya’s thriving and sustainable ecosystem
Mohamed Ismael, Head of the Public Services Company of Tripoli welcomed Oilinvest’s involvement, stating that “we are pleased to have Oilinvest as a partner in support of our National Reforestation Campaign. Our collaboration will address issues such as deforestation due to climate change, tree cutting vandalism, and rapid random urbanization, leading to further water scarcity and desertification. Such issues are of pressing national concern that mandate our immediate attention. This initiative is, therefore, considered pivotal in tackling such challenges and restoring a thriving and sustainable ecosystem”.
To absorb 10 million tons of CO2 equivalent per year
The implementation of the ARR project will commence on an initial area of 450 hectares as a first phase and shall include a drip irrigation system and an in-house tree seedling nursery and shall progress thereafter in stages to cover the remaining 1,000 hectares. Once fully grown, the one million trees are estimated to absorb more than 10 million tons of CO2 equivalent per year. This will significantly contribute to the realization of environmental and social sustainability and Climate Action objectives in Libya and the Mediterranean region.
The Oilinvest Group is wholly owned by the Libyan state. It describes itself as a major player in the European downstream oil industry paying a vital role at every stage of the value chain. Its two main brands Tamoil and HEM employ around 1,000 professionals, and market more than 10 million tons of fuel products every year. Headquartered in The Hague, in the Netherlands, Oilinvest says it aims to become a net-zero emissions energy company by 2050.
NOC starts first phase of its campaign to plant a million trees (libyaherald.com)
At COP28, NOC launches ambitious ‘Think Tomorrow’ environmental initiative (libyaherald.com)
NOC continues its initiative to plant one million trees to reduce carbon emissions (libyaherald.com)
Tree-planting campaign launched in Sirte (libyaherald.com)
Gharian to plant one million olive trees and 500k almond trees (libyaherald.com)
