SK E&S announced today that it has signed an MOU with the Timor-Leste government and SK forest at COEX in Samseong-dong, Seoul to develop a “Timor-Leste sustainable reforestation and forest conservation project.”
The agreement was signed on the occasion of the visit of the Timor-Leste government group to Korea to attend the World Forestry Congress (WFC).
The World Forestry Congress is the largest international event in the forestry sector hosted by the Food and Agriculture Organization of the United Nations (FAO). The 15th event is being held in Korea for five days from May 2 to May 6.
The parties to the agreement agreed to jointly promote business opportunities for forest restoration such as Afforestation, Reforestation and Reducing Emissions from Deforestation and forest Degradation and Plus (REDD+) within Timor-Leste.
Forests are expected to play a key role in achieving the global climate goal as a carbon storehouse that absorbs and sequesters carbon from the atmosphere.
SK E&S plans to directly reduce CO2 by using carbon capture and storage (CCS) technology and secure carbon credits through various methods, including the Timor-Leste afforestation and forest conservation project.
