Green Earth Group N.V. (“Green Earth” or “the Group”) (Euronext: EARTH: NL0009169515), a leading end-to-end developer of nature-based solutions, is pleased to announce the successful completion of the feasibility study for the Namizimu Afforestation, Reforestation & Agroforestry Carbon Project (“Namizimu Project”). The study confirms that the project is technically sound, financially viable, and ready to advance to the pilot implementation and full Project Design Document (PDD) stage.
Key Highlights
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Project scope: Located within the Namizimu Forest Reserve in Southern Malawi, the Namizimu Project is a nature-based initiative designed to restore degraded Miombo woodlands. The Namizimu Project spans a total Area of Intervention (AOI) of 83,530 hectares, with approximately 27,980 hectares identified as eligible and available for active planting and restoration. The Namizimu Project will be developed in compliance with Malawi’s National Carbon Framework and deliver high-quality Article 6 aligned carbon removals that contribute to key sustainability goals. The Namizimu Project will create a template which will be replicated across other forestry reserves.
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Strategic partnership: The Namizimu Project is driven by a strategic partnership between Green Earth and the Green Economy Partnership (“GEP”), a UAE-based climate-tech and project developer focused on Article 6. In this collaboration, Green Earth serves as the lead developer and investor, providing the capital and nature-based expertise required for large-scale restoration. GEP is the originator and primary implementation partner responsible for in-country project implementation, technical coordination, stakeholder management, and community engagement. The partnership is further supported by technical specialists.
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Verification: The project utilises the Verra VM0047 ARR methodology, ensuring the highest standards of carbon accounting and integrity. Green Earth anticipates the Namizimu Project will achieve Verra registration in 12 months.
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Expected carbon credits: Over a 40-year crediting period, the Namizimu Project is projected to sequester between 5.7 and 9.7 million tonnes of CO₂ equivalent.
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Social and economic impact: At full scale, the initiative aims to create over 15,000 local jobs and benefit approximately 18,000 residents through improved food security and the establishment of wood-fuel lots to reduce charcoal dependency.
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Scalability: The Namizimu Project creates a template that can be replicated across further Forestry Reserves in Malawi for which GEP has the development rights.
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Timeline and prospects: Following the ‘Conditionally Feasible’ verdict, the Namizimu Project is now transitioning from the assessment phase to active development. With the feasibility study concluded, Green Earth and GEP will focus on the following immediate actions over the next six months:
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Executing a 100-hectare pilot project to calibrate operational costs and seedling survival rates.
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Finalising boundary confirmation and securing a Letter of Approval (LOA) from the Government of Malawi under Article 6 of the Paris Agreement.
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Initiating formal stakeholder consultations following Free, Prior, and Informed Consent (FPIC) protocols with local communities.
Arthur Chirkinian, CEO of GEP, stated: “The Namizimu project exemplifies the kind of partnership required to translate national climate ambition into large-scale, investable outcomes. The project is a key milestone in the growth of GEP and together with the development of Malawi’s National Carbon Registry creates a platform for further growth.”
Selwyn Duijvestijn, CEO of Green Earth, commented: "The successful completion of the Namizimu feasibility study underscores Green Earth’s specialised expertise in developing large-scale, agroforestry carbon-removal projects in Africa. We have refined a model that integrates rigorous carbon accounting with deep community collaboration. This focus allows us to execute complex projects that deliver high-quality, verifiable carbon removals, positioning Green Earth as a specialist leader in the African nature-based market."
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Disclaimer
This press release does not contain an (invitation to make an) offer to buy or sell or otherwise acquire or subscribe to shares in Green Earth and is not an advice or recommendation to take or refrain from taking any action. This press release contains statements that could be construed as forward-looking statements, including about the financial position of Green Earth, the results it achieved and the business(es) it runs. Forward-looking statements are all statements that do not relate to historical facts. These statements are based on information currently available and forecasts and estimates made by Green Earth’s management. Although Green Earth believes that these statements are based on reasonable assumptions, it cannot guarantee that the ultimate results will not differ materially from those statements that could be construed as forward-looking statements. Factors that may lead to or contribute to differences in current expectations include, but are not limited to: developments in legislation, technology, tax, regulation, stock market price fluctuations, legal proceedings, regulatory investigations, competitive relationships and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of Green Earth are discussed in the annual report. The forward-looking statements in this document speak only as of the date of this document. Subject to any legal obligation, Green Earth assumes no obligation or responsibility to update the forward-looking statements contained in this document, whether related to new information, future events or otherwise. The provision of Green Earth’s services and products is subject to its General Terms and Conditions.
