Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Social Impact
• Governance

Environmental Achievements

• Protecting 64,977 hectares of tropical lowland peat swamp forests from deforestation at Rimba Raya, resulting in ~130 million tCO2e GHG emissions reduced and avoided over 30 years.
• Developing MarVivo Blue Carbon Conservation Project in Mexico, expected to generate approximately 26 million blue carbon credits over 30 years.
• Developing Cerrado Biome project in Brazil, aimed at protecting native forests and grasslands, expected to generate approximately 0.5 million carbon credits per year over 30 years.

Social Achievements

• Investing in community development programs at Rimba Raya, including water filtration systems, floating healthcare facilities, scholarships, and environmental education.
• Partnering with local communities in MarVivo project, aiming to create new economic opportunities and displace harmful shrimp farming.
• Investing in community programs at Cerrado Biome, including environmental education, fire prevention, and biodiversity preservation.

Governance Achievements

• Adopting a comprehensive set of corporate policies, including a Code of Business Conduct and Ethics and an ESG Policy.
• Establishing an Audit Committee comprised of independent board members.
• Creating an Impact Investing Policy to guide investments.

Climate Goals & Targets

Environmental Challenges

• Dependence on key management.
• Limited operating history for the Company’s current strategy.
• Concentration risk in carbon credit investments.
• Inaccurate estimates of growth strategy.
• Fluctuating price of carbon credits.
• Reduced demand for carbon credits.
• Lack of liquidity and high volatility of carbon markets.
• Verification, cancellation and other risks associated with carbon credits.
• Impact of the COVID-19 pandemic.
• Liquidity concerns and future financing requirements.
• Foreign operation and political risk.
• Competition in carbon markets.
• Due diligence risks.
• Title risk.
• Insurance risk.
• Permits & licenses.
• Market events and general economic conditions.
• Foreign exchange rates.
• Future acquisitions.
• Changes in accounting standards and interpretations.
• Regulatory change.
• Litigation.
• Conflicts of interest.
• Anti-corruption and bribery laws.
• Sensitivity to nature and climate conditions.

Mitigation Strategies

• Developing a strong management team with diverse expertise.
• Diversifying the carbon credit portfolio over time.
• Implementing rigorous due diligence processes.
• Securing financing to support operations and growth.
• Managing foreign operation risks through careful selection of projects and partners.
• Developing strategies to mitigate the impact of climate change and other risks.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events impacting project operations.

Transition Risks

• Changes in government policies and regulations related to carbon credits.

Opportunities

• Growth in demand for carbon credits.

Reporting Standards

Frameworks Used: VCS (Verified Carbon Standard), CCB Standard, SOCIALCARBON Standard, SD VISta Standard

Certifications: VCS Verified, CCB Triple Gold, SD VISta

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• All 17 UN SDGs

Projects are selected based on their contribution to sustainable development goals.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate change
• Biodiversity
• Human rights
• Employee well-being
• Diversity, equity and inclusion
• Community and social investment
• Business ethics and transparency
• Anti-bribery and anti-corruption

Environmental Achievements

• Offset five times its calendar year 2022 emissions through the retirement of 245 carbon credits from our portfolio.
• Cerrado Biome project received final approval of its Project Review Report from Verra and issued approximately 316,000 carbon credits.

Social Achievements

• Established the Climate Resilience Impact Fund (CRIF) supporting organizations and programs centered on women and girls’ education in sub-Saharan Africa.
• Selected Street Child and AGE Africa as the first two recipients of CRIF funding.

Governance Achievements

• Established a standing Sustainability Committee of the Board of Directors.
• Conducted a materiality assessment to align high-priority ESG topics.

Climate Goals & Targets

Environmental Challenges

• Growth stage of the business and easing of COVID-19 restrictions led to increased GHG emissions.
• Potential underperformance of projects due to various factors (climate estimates, environmental impacts, social considerations, legal and policy frameworks, implementation).

Mitigation Strategies

• Adopted a Travel and Expenses Policy to minimize GHG impacts from business travel.
• Rigorous due diligence process for acquisitions, investments, and streaming/royalty agreements, assessing multiple project components.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier who assisted in the preparation of this Report, Works Design, has been carbon-neutral since 2013.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Change in social or political views towards climate change and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Universal Standards

Certifications: null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Various UN SDGs mentioned in relation to project co-benefits

Projects aim to deliver impacts beyond carbon, creating additional value for society and protecting valuable ecosystems and biodiversity.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Social Impact

Environmental Achievements

• Entered into a project pipeline streaming agreement for up to US$15 million with Mast Reforestation for post-wildfire reforestation projects in the Western USA, expected to remove approximately 1 million tCO2e.

Social Achievements

• The Mast Reforestation Projects will support rural livelihoods, providing jobs in seed collection, nursery operation, site preparation, and seedling planting.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Increasing frequency and severity of wildfires in the Western USA.

Mitigation Strategies

• Mast’s reforestation methods center around growing healthy, climate-adapted, fire-resilient forests.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Wildfires

Transition Risks

• Not disclosed

Opportunities

• Carbon credit generation and sale

Reporting Standards

Frameworks Used: Climate Action Reserve’s Climate Forward program

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 13 (Climate Action)

Reforestation projects contribute to climate change mitigation.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed