Regarding the Start of Feasibility Verification for Forest Restoration Project in Malaysia
Nov. 06, 2023
Marubeni Corporation (hereinafter, “Marubeni”) has signed a Memorandum of Understanding with local partner companies in Sabah and Sarawak, Malaysia, and begun feasibility verification for a forest restoration project (hereinafter, the “Project”) through reforestation. In Sabah, Marubeni are partnering with Sabah Softwoods Berhad (hereinafter,“SSB”), a plantation company, towards engaging in forest restoration on degraded lands within plantations managed by SSB. In Sarawak, Marubeni will contribute to maintaining and enhancing biodiversity in collaboration with KTS Resources Sdn. Bhd. (hereinafter, “KTS”), through methods such as converting degraded palm plantations into native species and converting failed coconut plantations into mangrove forests. The objectives of the Project are to achieve economic viability while facilitating the maintenance of the social contributions of environmental conservation and global warming countermeasures upheld by the Malaysian government. We will ultimately aim to establish a carbon credit program through methods such as restoring biodiversity, creating employment within local communities, and forest restoration or conversion into native species for carbon absorption and sequestration.
In March 2021, Marubeni formulated its long-term vision for climate change and positioned green strategy as one of the basic policies to enhance corporate value in its mid-term management strategy “GC2024”. Marubeni manages a total project area of approximately 300,000 hectares (equivalent to approximately 60% of the area of Tokyo) in Indonesia and Australia, of which approximately 130,000 hectares are plantations, and is proceeding with reforestation projects similar to this project in the Philippines and Angola. In Japan, the company is also working to offset carbon emissions through the J-Credit System in the municipal forests of Noshiro City, Akita Prefecture, Japan and in forests managed by the Shirakami Forestry Association. By applying the knowledge and expertise accumulated through these undertakings to the Project, we aim to increase the environmental and economic value of forest resources and open the way for a sustainable future through the power of people and forests.
|Sabah Softwoods Berhad
|Production of FSC-certified plantation logs for downstream activities, woodchips for pulp and paper manufacturing, and MSPO-certified oil palm fresh fruit bunch (FFB) and palm oil products from SSB’s approximately 60,000 hectares of titled land in the Tawau district of Sabah, Malaysia. Marubeni enjoys a 25-year plus business relationship with SSB, starting in 1997 with the installation of a woodchip production line.
|KTS Resources Sdn. Bhd.
|Planting and production of plantation log for paper manufacturing, and involvement in a wide range of other businesses including media, food, and construction. Marubeni and KTS enjoy a 60-year plus business relationship, commencing with Marubeni’s trading in unprocessed timber from Southeast Asia in the early 1960s.
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