CDP and Snam set up a joint venture to absorb 200,000 tonnes of CO2 per year
Creating green areas in Italian cities and towns to help improve air quality and combat climate change, generating opportunities for social and economic development. Arbolia is the new joint venture set up as part of the partnership between Cassa Depositi e Prestiti and Snam for the development and implementation of projects to reduce and absorb CO2 emissions.
The ambition of the benefit company - in which the CDP Foundation is directly involved - is to plant 3 million trees in Italy by 2030, enabling the absorption of around 200,000 tonnes of CO2 per year.
Arbolia will therefore use CDP and Snam’s expertise to plan, promote and implement afforestation and reforestation activities on land made available by the public administration and private individuals, through the economic support of companies and individuals who wish to contribute to improving the environment. Arbolia will also take on the care and maintenance of the trees for the first two years, relieving the public administration from the related burdens, and will promote discussion among stakeholders on issues of national interest related to the development and promotion of forestry activities.
The joint venture will also offer companies and public authorities carbon footprint analysis services to monitor and reduce their impact in terms of CO2 emissions.
In addition to reducing carbon dioxide emissions and the resulting reduction in air pollution, the activities will contribute to improving biodiversity and making local areas more liveable and resilient.
This significant transaction will enable CDP to pursue some of the important Sustainable Development Goals recognised by the UN's 2030 Agenda, such as Goal 13, linked to climate protection, Goal 15, linked to restoring the Earth's ecosystem and Goal 11, to make our cities more liveable and sustainable.