SK Forest, NH Securities to cut CO2 emissions in East Timor

South Korea’s SK Forest Co. and NH Investment & Securities on Friday held a launching ceremony for their joint supply of high-efficiency cookstoves to Lospalos, the capital of East Timor’s Lautem Municipality. 

A stove-shaped culinary utensil made of cement, a cookstove has high thermal efficiency that can slash its fuel use up to 50% of that of other cookware.

Starting with this project, both companies will secure carbon emissions credits through a greenhouse gas reduction project to supply 200,000 high-efficiency cookstoves throughout East Timor over the next five years. They will also boost sustainable development by improving quality of life for residents.

The two sides also plan their joint mangrove restoration and agroforestry carbon projects for coffee.

“The supply of cookstoves is a small change in daily life that will have a positive effect on the future climate environment and nature,” SK Forest CEO Son Dae-ik said.

“This launching ceremony is the first step in opening a carbon neutrality, era,” said Park Geon-hu, head of NH Investment & Securities’ Client Solutions Division.

Write to Hyung-Kyu Kim at khk@hankyung.com