Project detail - Removall Portfolio Company SAS

Who is our prospective customer?

Removall Portfolio Company, being the proposed platform entity for which a final legal name will be determined following establishment, is a carbon platform that will finance and scale a diversified portfolio of removal and avoidance carbon projects, mainly across Africa and Asia. The Platform will be managed by Removall Carbon SAS, a Paris-based carbon project developer and carbon commercialization platform with expertise in afforestation, reforestation, mangrove restoration, clean water and clean cooking projects.

What is our funding objective?

FMO proposes a EUR 15 mln investment in Removall Portfolio Company through a combination of equity and shareholder loan financing alongside IFC, Proparco, and Removall. The funding will support the development, implementation and scaling of high-integrity carbon projects, including afforestation, reforestation and revegetation (ARR), mangrove restoration, clean cooking and clean water projects. The Platform aims to finance projects that generate measurable climate impact while supporting local communities through benefit-sharing mechanisms and sustainable livelihood opportunities.

Why do we want to fund this investment?

FMO's investment will provide catalytic capital to a growing asset class that remains underserved by traditional financing. FMO, together with other DFIs, will contribute to strengthening governance, environmental and social standards and carbon integrity practices at Platform level. The investment is expected to support the avoidance or removal of more than 28 mln tonnes of CO2 and restoration of approximately 110,000 hectares of ecosystems across Africa and Asia. FMO's investment aims to support activities that contribute to climate mitigation, contributing to SDG 13, in line with FMO's methodology to determine green finance attribution. In addition, FMO's investment aims to support activities that contribute to financial flows to Least Developed Countries (LDCs), contributing to SDG 10.

What is the Environmental and Social categorization rationale?

This concerns an E&S Category A investment due to the nature, scale and geographic diversity of the underlying portfolio and the potential for significant environmental and social risks associated with carbon projects, particularly nature-based solution projects. The Platform will invest in projects including afforestation, reforestation, mangrove restoration, agroforestry, clean cooking and clean water interventions across multiple countries in Africa and Asia. Material environmental and social (E&S) issues may include biodiversity impacts, land tenure and land-use rights, community health and safety, stakeholder engagement, benefit sharing, labor and working conditions, and impacts on local communities and Indigenous Peoples where applicable. The governance framework includes dedicated E&S specialists as well as oversight through an E&S Panel. FMO's investment will include active engagement on E&S matters. An E&S Action Plan has been agreed to develop an Platform-level E&S Management System aligned with IFC Performance Standards that will be actively monitored. The Platform will operate in alignment with IFC Performance Standards (PS), particular attention will be given to PS related to labor and working conditions (PS2), resource efficiency and pollution prevention (PS3), community health and safety (PS4), land acquisition and sustainable livelihoods (PS5), biodiversity conservation (PS6), Indigenous Peoples (PS7), and cultural heritage (PS8) where applicable.