Minister of Environment and Climate Action of Portugal, Duarte Cordeiro, and President of Repsol, Antonio Brufau, This Friday the project signed a strategic agreement to develop large-scale reforestation projects in Portugal Green Engine + Forest. Dr. was also present at the presentation Prime Minister Antonio Costa and Minister of Economy and Oceans, Antonio Costa Silva.
Investing more than ambition 400 million euros And re-forest 100,000 hectares of burnt or bare land in Portugalabsorption contribution 25 million tons of carbonwith its plants More than 90 million trees In later years
With the Motor Verde +Floresta project, it is planned to build Thousands of local and inclusive job opportunities, Especially in rural areas of the country. In addition, the Repsol Foundation will provide training programs to promote employment and encourage entrepreneurship in rural areas.
This project will Promoting Voluntary Carbon Markets in Portugal, bet on Reforestation as a natural climate solution, what a gera Environmental, social and economic benefits In the surrounding rural communities.
The New Deal represents a decisive stimulus to convert The Iberian Peninsula is an important carbon reservoir, competitive and a reference in Europe.
In this project, the Repsol Foundation will work together with public entities and Portuguese forestry experts, as well as with private landowners, contributing to social and regional cohesion, for the care and maintenance of reforested land.
President of Repsol, Antonio Brufausaid that Green Engine + Forest The voluntary carbon market in Portugal represents a great opportunity for development and it is grateful for the commitment and institutional support received from the Portuguese authorities.
ambition Green Engine + Forest “It represents before and after the development of the European carbon market, more specifically led by Portugal and the Iberian Peninsula as a natural carbon reservoir”, commented Brufau.
Capturing CO2 in natural ways, such as forests, for the control and monitoring of public development of forests supported by satellite technology, is undoubtedly a great opportunity for the economy and for the challenges of our countries in terms of energy transition”, underlined the President of Repsol.
The Repsol Foundation, together with its subsidiary Grupo Sylvestris, launched Motor Verde in 2021, with the aim of promoting reforestation as an instrument to offset the carbon footprint within the framework of the ongoing energy transition.
Motor Verde is a project with a triple impact: economic, social and environmental, based on Public-private cooperation and aligned with Sustainable Development GoalsA Agenda 2030 And European Green Deal.
Forestry will lead the operational part of the project Grupo Sylvestris, a company in which the Repsol Foundation has a stake and has more than 30 years of experience in the forestry sector.
Instead, the Motor Verde project is underway in different regions of Spain, where more than 2,000 hectares of forest have been successfully reforested with the help of public administrations and private organizations such as Microsoft, Orange, El Corte Ingles, Caja Gramin de Zamora, AstraZeneca, Banco Santander, Tierra Pura Foundation, Enagás or Ilunion, among others.