The company aims to increase its investment in sustainable forestry to combat carbon emissions.
DXT Forestry Solutions (New Zealand) Ltd, a subsidiary of DXT Climate Solutions (UK) Ltd, recently announced that it has received consent from the New Zealand government to conclude the purchase of its first sustainable production forest in New Zealand. Consent has been given to take over an area of approximately 540 hectares of native bush and fast-growing sustainable pine tree plantation in New Zealand’s North Island.
The newly planted forest will be maintained to maximise its carbon capture potential, as part of DXT’s commitment to combat the effects of carbon emissions. The forest will sequester approximately 10,000 tonnes of carbon dioxide equivalent per year guaranteed by a sustainable harvest and replant regime.
“We are delighted to complete this transaction, which marks a significant milestone in our sustainability journey. We believe that investing in natural climate solutions, such as sustainable forestry, is not only good for the environment, but also good for business. By owning and managing our own forest, we can ensure that it is managed responsibly and ethically, and that it also contributes to the local economy and community,” said DXT Climate Solutions CEO, Peter Zonneveld.
DXT plans to expand its sustainable forest portfolio in New Zealand and other countries, as well as explore other opportunities to support nature-based solutions for climate change mitigation and adaptation. The company also intends to leverage its digital capabilities to monitor and report on the environmental and social impacts of its forestry activities.