Yueyang Forest & Paper's subsidiary Chengtong Carbon Sink won the bid for the carbon sink cooperation development project in the Tacheng region of Xinjiang
Yueyang Forest & Paper's wholly-owned subsidiary, Chengtong Carbon Sink, has won the bid for the carbon sink cooperation development project in the Tacheng area of Xinjiang. The project development period is 24 months, and the cooperation period is initially set for 20 years. This project will help the company achieve its carbon peak and carbon neutrality goals, enhancing its influence in the carbon sink market and brand image
According to the Zhitong Finance APP, Yueyang Lin Paper (600963.SH) announced that its wholly-owned subsidiary, Chengtong Carbon Sink Management (Hunan) Co., Ltd. (referred to as "Chengtong Carbon Sink"), recently received the "Transaction Notice" and became the winning bidder for the agricultural, forestry, and grassland carbon sink resource cooperative development project in the Tacheng region of Xinjiang. The project development period is set to be no more than 24 months from the signing of the project cooperation development contract until the completion of the first phase of listing and trading. The preliminary cooperation period for the project is determined to be 20 years, requiring the carbon sink project assets to enter market circulation and ensure long-term sustainability and stability in emission reduction accounting.
The company is leveraging the opportunity presented by the national goals of "3060" for carbon peak and carbon neutrality to actively layout its carbon sink trading business. Chengtong Carbon Sink serves as the operational platform for central enterprise carbon assets and participates in the formulation of the national standard for forestry carbon sinks in China - the "Guidelines for the Approval and Verification of Forestry Carbon Sink Projects." If the above project contract is signed and implemented smoothly, it will have a positive impact on the company's annual operating performance for the project and further enhance the company's influence in the carbon sink market, improving the company's brand image
