Orange Launches €50 Million ‘Orange Nature’ Carbon Fund
The telecommunications giant Orange has announced the launch of ‘Orange Nature’, a carbon fund to finance reforestation and ecological restoration projects. This has been approached on their mission towards a net-zero target by 2040.
This week, they revealed their €50 million carbon fund partnered with Mirova (Natixis Investment Managers), which will be used to finance carbon sequestration projects such as afforestation, reforestation, and the restoration of natural ecosystems (mangroves or agroforestry projects).
They will also streamline focus towards the social development of regions impacted by the projects financed, including the positive effects they have on biodiversity.
How Else Is Orange Reaching Their Net Zero Target?
Orange is also improving its network efficiency by optimising technical deployments and reducing the carbon footprint of its data centres. Along with this, they are promoting a circular economy within the organisation through eco-designs, recycling waste, reconditioning, and increasing the lifespan of products. They have committed to ensuring 100% of Orange-branded products are eco-designed by 2025.
Another one of their key environmental objectives is to meet 50% of the Group’s electricity needs through renewable energy in 2025. This is a huge step for such a giant organisation, which will drastically save damage to the planet.
How Will ‘Orange Nature’ Impact Carbon Emissions?
‘Orange Nature’ will be used to create carbon sinks that naturally and sustainably absorb the CO2 present in the atmosphere. The fund is the first created and funded by a single European corporation that provides a return exclusively in the form of carbon credits, Orange claims.
“Orange Nature will enable us to complete the task of becoming Net Zero Carbon in 2040, through the use of nature-based solutions that will capture the residual incompressible emissions. Nature is our shared resource. It is up to each and every one of us to preserve it.” – Elizabeth Tchoungui