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Engie, AXA Back Agro-Forestry Startup With $500 Million Investment

  • Company to develop agro-forestry in Latin America, Africa
  • Plan is to generate 40 million tons of carbon credits
The Amazon rainforest in Madre de Dios, Peru, an area targetted by The Shared Wood Co.
The Amazon rainforest in Madre de Dios, Peru, an area targetted by The Shared Wood Co.Photographer: Christian Declercq/Getty Images
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Engie SA and AXA SA have agreed to back The Shared Wood Co., a sustainable agro-forestry startup, through $500 million of investment and carbon credit offtake agreements. 

The company, based in Paris, plans to invest in as many as eight projects across Africa and Latin America that will combine conservation, reforestation and sustainable agriculture to generate carbon credits and produce crops such as cocoa and coffee, according to the founders. The aim is to commit more than $500 million by 2028.