Yueyang Forest & Paper subsidiary wins major carbon sink project

Yueyang Forest & Paper Co., Ltd. announced that its wholly-owned subsidiary, Chengtong Carbon Sink Operation and Management (Hunan) Co., Ltd., has won the bid for the Fuyuan County Forestry Carbon Sink Resources Cooperative Development Project in Qujing City, Yunnan Province. This project covers approximately 2.544m mu of existing forestry land in Fuyuan County, aiming to develop forestry carbon sink projects under national and international voluntary emission reduction mechanisms (CCER, VER, VCS, GS).

The project's revenue-sharing cooperation period is initially set for 20 years, with the specific duration to be determined by the final contract. Chengtong Carbon Sink will undertake the full development process, bearing the development costs and operating on a profit-sharing model.

This initiative aligns with China's "3060" carbon peak and neutrality goals and is expected to positively impact Yueyang Forest & Paper's operating performance and enhance its influence in the carbon credit market. Chengtong Carbon Sink, a state-owned enterprise carbon asset management platform, is also involved in formulating national standards for forestry carbon sink projects.