DGB Group N.V. (“DGB” or “the Group”) (Euronext: DGB: NL0009169515), a leading carbon project developer and ecosystem restoration company, announces the discontinuation of two early-stage projects in its pipeline, the Dé Forest Restoration Project in the Republic of Côte d'Ivoire and a cookstove project in Ethiopia. Both projects have been discontinued following thorough evaluations in the feasibility study phase that determined they are unfeasible under current conditions.
The Dé Forest Restoration Project in Côte d'Ivoire aimed to restore extensive areas of degraded forest through large-scale reforestation, generating sustainable carbon units and supporting local communities. Initiated in March 2023 with the signing of a Memorandum of Understanding (MOU), the project involved detailed assessments of reforestation potential and socio-economic impacts. While early evaluations showed strong environmental benefits, including carbon sequestration and biodiversity restoration, the feasibility study identified significant challenges, including logistical constraints, high operational costs, and complex regulatory requirements. These issues rendered the project financially unviable.
The Ethiopian Cookstove Project aimed to distribute 150,000 energy-efficient cookstoves over seven years, targeting the generation of 2.5 million carbon units while addressing environmental and health challenges associated with traditional cooking methods. Despite promising pre-feasibility results, the feasibility study revealed critical hurdles in implementation logistics, community engagement, and cost management, leading to the decision not to implement the project.
As neither project had been valued or included in DGB’s financial outlook, and no carbon unit issuances were anticipated, their discontinuation has no material impact on the Group’s financial position.
“The decision not to proceed with the projects in Côte d'Ivoire and Ethiopia highlights our steadfast dedication to pursuing initiatives that fully align with our rigorous standards for feasibility, sustainability, and impact. Through comprehensive analysis, we recognised that these projects did not meet the high benchmarks we set for long-term success and responsible investment. At DGB, we are committed to ensuring that every project we undertake is not only environmentally and socially sustainable but also strategically sound. This decision exemplifies our proactive approach to upholding our core values and reinforces our focus on delivering meaningful, impactful, and successful initiatives in the future.” - Head of New Projects, Nicholas Wall.
Strong pipeline for the future
DGB remains committed to driving impactful carbon projects and ecosystem restoration. The Group’s extensive pipeline, strategically positioned to generate over 38 million carbon credits, includes 13 projects—4 large-scale initiatives actively under development and management, with the remainder in preliminary phases.
DGB is open to discussions regarding carbon credit purchases and offers flexible payment structures, including payment-at-delivery and forward offtake agreements with prepayment options.
Contact details
DGB GROUP NV
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About DGB
DGB is a project developer of high-quality, large-scale carbon and biodiversity projects accredited by third parties. The Group is focused on nature conservation and helping biodiversity flourish by assisting governments and corporations in achieving net zero. Global megatrends drive the demand for carbon units and underpin growth opportunities. DGB GROUP NV is a public company traded on the main Dutch stock exchange Euronext Amsterdam under the ticker symbol AEX:DGB and ISIN-code NL0009169515. www.green.earth
Disclaimer
This press release does not contain an (invitation to make an) offer to buy or sell or otherwise acquire or subscribe to shares in DGB and is not an advice or recommendation to take or refrain from taking any action. This press release contains statements that could be construed as forward-looking statements, including about the financial position of DGB, the results it achieved and the business(es) it runs. Forward-looking statements are all statements that do not relate to historical facts. These statements are based on information currently available and forecasts and estimates made by DGB’s management. Although DGB believes that these statements are based on reasonable assumptions, it cannot guarantee that the ultimate results will not differ materially from those statements that could be construed as forward-looking statements. Factors that may lead to or contribute to differences in current expectations include, but are not limited to: developments in legislation, technology, tax, regulation, stock market price fluctuations, legal proceedings, regulatory investigations, competitive relationships and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of DGB are discussed in the annual report. The forward-looking statements in this document speak only as of the date of this document. Subject to any legal obligation, DGB assumes no obligation or responsibility to update the forward-looking statements contained in this document, whether related to new information, future events or otherwise. The provision of DGB’s services and products is subject to its General Terms and Conditions.
