February 15, 2017, Vancouver, British Columbia: NatureBank Asset Management Inc. (the “Company”) (TSX-V: COO, Frankfurt: 9EA) is pleased to announce the completion of its first project with the National Federation of Cocoa (“FEDECACAO”) in Colombia, South America. The project was undertaken by NatureBank’s wholly owned subsidiary, ForestFinest Consulting, utilizing the Company’s expert cocoa teams from both the German and Panamanian offices.
The project involved the design of a methodology of payments for ecosystem services (”PES”) for cocoa farmers in Colombia. In September 2016, ForestFinest Consulting was procured to help FEDECACAO with the implementation of a PES mechanism that included the protection of biodiversity, maintaining agroforestry, reducing the impact on watersheds and water reservoirs, and promoting the potential of carbon sequestration from reforestation as a climate change mitigation strategy. The completed project was submitted to FEDECACAO this month.
Under this project, the Company screened Colombia for PES opportunities, and designed a survey mechanism to collect information from cocoa producers, as well as gauge their interest in participating in a PES scheme. The Company also assessed the locations and sizes of potential fincas (existing cocoa farms) for their potential. The survey results on more than 1000 cocoa producers were analyzed once completed and submitted. ForestFinest was able to select a PES scheme that focused on the protection of agroforestry systems linked to carbon sequestration and certification. The Company also selected a potential municipality to establish a pilot project.
FEDECACAO was established in Colombia in 1960 and represents approximately 35,000 small and medium sized farmers throughout the country. The association helps cocoa producers with capacity building, technical support, technology transfer, the creation of commercialization channels and more recently, support for environmental initiatives. More information on FEDECACAO can be found athttp://www.fedecacao.com.co/portal/index.php/es/.
“We are excited to have completed our first project with FEDECACAO,” commented Dirk Walterspacher, co-CEO of NatureBank. “The cocoa sector is evolving over time, and FEDECACAO recognizes the need to integrate biodiversity and climate resilience alongside best of class agroforestry technology to ensure the long term sustainability of the cocoa industry in the country. We look forward to the opportunity to potentially establish a Pilot PES project in Colombia with FEDECACAO.”
NatureBank Asset Management Inc.
About NatureBank Asset Management Inc.
NatureBank is an internationally diversified carbon management and agroforestry solutions company. With offices in Vancouver, British Columbia and Portland Oregon, Bonn Germany, Geneva Switzerland and satellite offices in Panama, its team of industry leaders specialize in the origination, development and commercialization of high-quality agroforestry and carbon offset projects, in addition to offering a comprehensive suite of sustainability consultancy services. Through NatureBank advisory services group Offsetters and German based CO2OL, the company helps organizations understand, reduce and offset their climate impact. NatureBank has worked with over 200 leading business organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE – Entega, and Shell Canada Limited. NatureBank is publicly listed company on the Toronto Venture Exchange (TSX-V:COO) and in Frankfurt:9EA. For more information, please visit us at www.NatureBank.com.
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NatureBank Asset Management Inc.
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