DGB Group N.V. (“DGB” or “the Group”) (Euronext: DGB: NL0009169515), a leading carbon project developer and ecosystem restoration company, is pleased to announce the development of its afforestation/reforestation (A/R) project in the Democratic Republic of the Congo (“DRC A/R Project”) to the feasibility study phase. Following a successful pre-feasibility study, this move signifies DGB's unwavering commitment to expanding its footprint in environmental conservation and ecosystem restoration in Sub-Saharan Africa.
Key highlights:
- Project scope: The DRC A/R Project aims to bolster carbon sequestration, biodiversity preservation, and ecosystem restoration while promoting sustainable land-use practices and enhancing local resilience to climate impacts. Over the project's 40-year lifespan, it is at this stage estimated to generate 5,789,697 verified carbon units (VCUs), averaging 125,000 VCUs annually.
- Project overview: The project site spans 40,000 hectares, with a designated planting area of 22,357 hectares. The DRC A/R Project, set to employ either Verra's 'Afforestation, Reforestation, and Revegetation Project' methodology or the Gold Standard’s A/R methodology (a decision to be finalised after the comprehensive feasibility study), exemplifies DGB's commitment to fostering sustainable ecosystems in regions abundant with biodiversity.
- Pre-feasibility insights: The conclusive pre-feasibility study yielded invaluable insights into ecological dynamics, community engagement, and potential challenges, laying the groundwork for an exhaustive feasibility study.
- Feasibility study objectives: The forthcoming study will probe deeper into the project’s technical, environmental, social, and economic dimensions to evaluate the feasibility of extensive afforestation, reforestation, and conservation initiatives in the DRC.
- Community engagement: DGB emphasises the inclusion of local stakeholders and community engagement in the study to align the project with local needs and aspirations, fostering sustainable economic opportunities.
- Timeline and future prospects: DGB looks forward to delivering regular updates on the DRC A/R Project and is on track to complete the comprehensive feasibility study by Q4 2023. Upon completion of the feasibility study, the project is positioned for registration in Q3 2024, with the inaugural planting season commencing ultimately in Q4 2024. This timeline positions the project to yield its first carbon credit vintage in 2024, with the initial issuance anticipated by the end of 2029.
DGB boasts a formidable project pipeline strategically positioned to generate over 44.9 million carbon credits. DGB’s extensive pipeline encompasses 19 projects, 7 of which are large-scale initiatives actively under development and management, with the remaining in preliminary phases.
DGB is available for discussions relating to carbon credit purchases and offers a versatile payment structure, ranging from payment-at-delivery to forward offtake agreements with prepayment, inclusive of a discount.
Contact details
DGB GROUP NV
press@dgb.earth
+31108080126
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 credits 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.
