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Ostrom Climate Announces Nature-Based Solutions Cooperation Agreement with Klima 1.5 Corp. In The Philippines
Strategic Agreement Aims to Bolster Climate Action through Focus on Afforestation, Reforestation ...
About this update from Ostrom Climate Solutions Inc
[{"type":"text","content":"Ostrom Climate Announces Nature-Based Solutions Cooperation Agreement with Klima 1.5 Corp. In The PhilippinesStrategic Agreement Aims to Bolster Climate Action through Focus on Afforestation, Reforestation & Revegetation Carbon Projects in Mindanao VANCOUVER, BC / ACCESSWIRE / June 24, 2024 / Ostrom Climate Solutions Inc. (\"Ostrom Climate\" or the \"Company\") (TSX-V:COO)(Frankfurt:9EAA), a global carbon project developer and climate solutions company, today announced a Cooperation Agreement with Klima 1.5 Corp (\"Klima\"), a carbon management company in the Philippines.Ostrom Climate and Klima have committed to producing a conceptual plan and feasibility study for nature-based solutions (NBS) carbon projects in the Philippines, particularly in Mindanao, the southernmost major island in the country and the second largest, after Luzon. This strategic alignment aims to support project execution and maximize environmental and economic benefits.Strategic Focus on Afforestation, Reforestation & Revegetation (ARR) ProjectsBoth Ostrom Climate and Klima will focus on developing NBS carbon projects that utilize natural processes and ecosystems to capture and store carbon, thereby reducing greenhouse gas emissions and supporting biodiversity. The key focus of the Cooperation Agreement centers around Afforestation, Reforestation & Revegetation (ARR) projects, which are essential for capturing and storing carbon, enhancing biodiversity, and supporting sustainable development​​.The Philippines, with its rich biodiversity and vast natural resources, presents significant NBS opportunities. Mindanao, which spans over 9.75 million hectares, is particularly promising due to its extensive forest cover and diverse ecosystems. The target project areas are primarily active logging sites with licenses and management plans in place.These initiatives will not only contribute to reducing greenhouse gas emissions but will also support local communities through enhanced livelihoods and resilience to climate change. Management believes that the development of NBS can serve as a model for similar projects across the Philippines, driving national and global climate goals.Jane Boles, International Land Use Director at Ostrom Climate, said \"Our deepening partnership with Klima is a testament to our shared commitment to sustainable de...