Fidelidade committed to support the growth of the Florestas de Portugal Fund (art. 9.º SFDR – “Dark green”), already approved by the Portuguese regulator CMVM, as a strategic initiative for the Company long-term objectives with a clear fit within the Sustainability strategy.
Fidelidade strategic rationale is to contribute for carbon emissions removal which will be required for our ambition to be Net Zero since there will still be residual emissions we are not able to reduce, using a look-though approach of the investment in the Fund, securing a quality natural carbon credits’ stock, hedged from potential future prices increase on quality carbon credits.
Related to the carbon credits, at a first stage, the Florestas de Portugal fund objective will be to promote and store quality natural ones (hedging future prices increase) and guarantee the carbon certification by a reputable specialized third party. Once the assets are certified, Participants benefit (on a look-trough approach) of the carbon credits generated by the Fund´s forest portfolio.
In the future, when carbon credits voluntary markets are more consolidated and less volatile, it is expected to have the possibility of recognizing the properties carbon credits on the fund´s balance sheet and promote its negotiation on the voluntary markets.
