Orange said that it has taken another step towards its long-term environmental objective to reach carbon emission neutrality by 2040. Under the new Orange Nature initiative, the telecom group has joined forces with Mirova, part of Natixis Investment Managers, to launch a EUR 50 million fund that will invest in a number of carbon sequestration projects around the world.
According to the group’s Orange Digital Investment arm, Orange Nature is the first fund created and entirely financed by a large European company that gives a return exclusively in the form of Voluntary Carbon Units (VCUs). The latter are carbon credits corresponding to emission reductions and carbon removal, as verified by independent auditors.
As part of its focus on reforestation and ecological restoration projects, Orange Nature has also signed a joint investment agreement with another fund dedicated to environmental conservation. This Nature+ Accelerator fund was created earlier this year by a group of partners including IUCN (International Union for Conservation of Nature), GEF (Global Environment Facility), and Mirova.
