AstraZeneca recently announced its grand plans to invest a colossal $400 million in the AZ Forest programme – an afforestation decarbonization initiative.
The initiative is projected to remove about 30 million tonnes of carbon dioxide from the atmosphere.
The programme will sponsor afforestation projects in Brazil, India, Vietnam, Ghana, and Rwanda, covering a total territory of over 100,000 hectares.
The long-term goal of the AZ Forest programme is to plant and maintain 200 million trees across six continents by 2030, as part of the company’s Ambition Zero Carbon Strategy.
Aiming at climate change mitigation and ecological sustainability, the project will work to achieve these effects through community-friendly practices, considering the needs of the people impacted by the afforestation plans. That way, it hopes to result in a symbiotic environmental balance in the hosting regions, stimulating biodiversity and contributing to economic and social development.
One way the company plans to do this is by involving the local people in the tree-planting efforts, maximizing the additional benefits of this labor, and motivating them to actively participate in the complete forest regeneration process.
Another fresh approach is offsetting a part of the harmful emissions generated by the work of contractors in the company’s supply chain. AstraZeneca will lead by example, nudging partnering companies to follow the path towards achieving net-zero emissions by 2045.
AstraZeneca will collaborate with the governments of the countries where the afforestation efforts will take place and provide them with verifiable carbon credits obtained with transparency and accountability.
The future plans of the company include reducing the carbon footprint of their entire supply chain, hoping to cut it by 50% by 2030 based on a 2015 reference. If everything goes as planned, they hope to reach a 90% decrease by 2045, based on a 2019 standard.
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