The investment committee for the DFCD’s Origination Facility has approved a EUR 279,001 grant and WWF technical assistance package for The New Forests Company (NFC).
The grant and technical assistance (TA) will allow NFC to develop the final business investment proposal for carbon certification in Uganda, for sustainable smallholder growth and timber market diversification. The investment proposal will contribute significantly to support landscape carbon preparation and certification. The aim is generating carbon finance to support planting and new land acquisition, timber processing diversification, conservation activities, and smallholder afforestation and livelihoods.
The grant and TA will be used for:
- Project establishment including reviewing of tools, communications and carbon options
- Community engagement and safeguard actions with key stakeholders
- Carbon model finalisation including baseline studies, conservation area mapping, plantation verification and certification
- Post certification activities including off-taker search and selection
- Timber diversification project and decision in H1 2021
The New Forests Company (NFC) is a successful forestry and timber processing company operating in East Africa since 2006, with a presence in Uganda, Tanzania and Rwanda. In Uganda the company has three plantations – managing almost 20,000 ha of land for commercial forestry. 40% of that is preserved for conservation to protect crucial waterways and promote landscape restoration and biodiversity.
Want to know more about this project? Visit the WWF website