DILI, 10 may 2024 (TATOLI) – The President of the Republic, Jose Ramos Horta welcomed a major investor from Chinese company Shanghai Treasure Carbon New Energy Environment Protection Tech Co., Ltd (STC) to develop carbon credit projects in Timor-Leste, hailing it as an opportunity to promote sustainable economic growth while addressing climate change.
According to a press conference by STC representatives after the meeting, the company aims to invest tens of millions of dollars over the next decade to support Timor-Leste’s goals like low-carbon emissions, sustainable development, economic diversification, and boosting international cooperation on climate change initiatives.
The STC carbon credit initiative represents an opportunity to promote sustainable economic growth in Timor-Leste while taking tangible action to address global climate change threats and beyond just financial capital, STC’s proposed package includes funding for technical training of local staff, creating new jobs, donating clean cookstoves to communities, and using a portion of the carbon credit proceeds to finance sustainable development projects nationwide.
For the young nation, partnering with STC provides a pathway to realize inclusive development that limits carbon emissions while improving livelihoods across the country through skills transfer, job opportunities and community initiatives.
The STC delegation will spend the next few days meeting with relevant government ministries to finalize implementation details for the substantial multifaceted carbon credit investment, which has Ramos-Horta’s endorsement.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
