News
As part of its ambition to achieve Net Zero Carbon by 2040, Orange has launched a €50 million carbon fund called “Orange Nature” in partnership with sustainable finance leaders Mirova (Natixis Investment Managers).
The fund will invest, both directly and indirectly, in global carbon sequestration projects such as afforestation, reforestation, and the restoration of natural ecosystems (mangroves or agroforestry projects). Additionally Orange Nature will focus on the economic and social development of regions and populations affected by the projects and the positive impacts they have on biodiversity.
The returns from the Orange Nature fund will be in the form of high-quality carbon credits which are required to capture a significant part of Orange Group’s residual CO2 emissions. These residual CO2 emissions will need to be absorbed by 2040 if Orange is to meet its Net Zero Carbon targets.
Orange Nature will have a joint investment agreement with the Nature+ Accelerator Fund, which was launched by the IUCN and the GEF to offer additional choices of carbon sequestration projects to invest in.
Elizabeth Tchoungui, Executive Director of CSR, Diversity and Philanthropy at Orange commented: “Orange Nature is a key element of the Group’s environmental policy. By 2040, most of our CO2 emissions will have been reduced thanks to the actions undertaken over the previous years. Orange Nature will enable us to complete the task of becoming Net Zero Carbon in 2040, through the use of nature-based solutions that will capture the residual incompressible emissions. Nature is our shared resource. It is up to each and every one of us to preserve it.”
