A Californian sustainable forestry company has received approval from the Vanuatu Investment Promotion Authority, or VIPA, to conduct a Reforestation Project on Malekula.
ECO2 Forests says it intends to create in excess of 300 full time jobs, sourced from the local community on Malekula, an island currently limited in employment opportunities.
The Authority's approval, and support from the provincial council, paves the way for an environmental impact assessment of the project, the final step in the planning and approval process.
The Malekula Reforestation Project is intended to absorb over 7 million tonnes of carbon dioxide from the atmosphere in every seven year harvest cycle.
ECO2 Forests says the project will also negate the need to log old growth and rain forests in Vanuatu, preserving the natural beauty of the Vanuatu islands for generations to come.