LATAM Group has recently announced a new alliance with the Cataruben Foundation in CO2BIO, a project for the conservation and restoration of floodable Savannah and forests in South America, whose importance lies in its very high capacity to capture carbon dioxide, the conservation of biodiversity and the significant impact it has produced in the community.
Located in the Colombian Orinoquía, the project expects, by 2030, to capture 11.3 million tons of CO2 in a 575,000-hectare property, equivalent to more than three times the size of cities such as Bogotá or Sao Paulo. It will also benefit 700 families in the area and has the support of the Natural Wealth Program of the United States Agency for International Development — USAID.
CO2Bio is part of the LATAM sustainability strategy that has set the following goals: carbon-neutral growth with respect to 2019, reduce/offset the equivalent of 50% of domestic emissions by 2030, and be carbon-neutral by 2050. These goals will be achieved through the implementation of new technologies and more efficient management, advancing the use of sustainable aviation fuels, and through compensation programs focused on the conservation of strategic ecosystems.
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