In order to help offset the firm’s carbon footprint, Phatisa, the Africa Development Equity firm has committed funds to the regeneration of degraded Miombo woodlands located in Luanshya in Central Zambia. The area to benefit is more than 10 hectares of land owned by Goldenlay, a portfolio company of the Phatisa-managed Africa Agricultural Fund, and is at risk from extensive clearing practices and illegal fires for charcoal production.
During 2014 alone, the firm estimates that its relatively small team has clocked over 1,000,000 km in flights visiting investors and portfolio companies in Europe and Africa, as well as 120,000 km in daily commutes, releasing close to 150 tonnes of greenhouse gas emissions annually. At peak growth, the protected woodland will sequester 20 tonnes of carbon per hectare each year.
The carbon neutral initiative aligns itself with the private equity firm’s stated mission of driving positive impact through their investments.