SK Innovation is set to embark on a mangrove reforestation project in Fiji. The project aims to contribute to solving the pressing environmental challenges that are national crises in the region, such as rising sea levels caused by global warming.
SK Innovation announced that it had signed a Memorandum of Understanding (MOU) in Suva, the capital of Fiji, for the “Restoration of Mangrove Forests in the Fijian Coastal Area for Carbon Reduction” on October 25 (Fiji local time).
The signing ceremony was attended by Sanjana Lal, Conservator of Fiji’s Ministry of Fisheries and Forestry, Jalesi Mateboto, Advisor of Land Resources Division of the Pacific Community (SPC), Oh Jung-taek, Consul at the Embassy of the Republic of Korea in the Republic of Fiji, and Lim Su-kil, Head of SK Innovation Value Creation Center.
In accordance with this MOU, SK Innovation will commence the restoration of the mangrove forests in the coastal areas of Vanua Levu Island in November. Vanua Levu is the second-largest among the 332 islands that constitute Fiji. Local community participation in the restoration project is promoted as a way to seek and foster mutual prosperity in the region. Both SK Innovation and relevant organizations to the project have also agreed to explore additional collaboration opportunities to expand the project.
Mangroves predominantly inhabit tidal flats or coastlines in subtropical regions with approximately 73 species distributed over about 150,000 km² worldwide. Notably, their carbon dioxide absorption capacity is known to exceed more than five times that of typical forests, making them effective in addressing climate change. Moreover, they also play a vital role in ecosystem preservation. In particular, mangroves act as a barrier against natural disasters such as typhoons and tsunamis, mitigating coastal damage and preventing coastal erosion. Therefore, mangroves are significant to Pacific Island countries, including Fiji, which have been facing damages caused by climate crises.
The funds for this mangrove reforestation project under the agreement will be fully supported by SK. The funding utilizes points accumulated by visitors of SK’s booth at CES 2023 held in Las Vegas, Nevada, U.S. earlier this year.
SK Innovation has consistently expanded its efforts towards global carbon reduction since the beginning of their first mangrove planting in the southern province of Tra Vinh, Vietnam, in 2018. So far, the accumulated size of mangrove reforested by the company in Southeast Asia, specifically, Vietnam and Myanmar, has reached 226 hectares, with approximately 820,000 new trees.
“The launch of this project signifies not only our determination to protect our environment but also our ambition to build a more sustainable future,” said Sanjana Lal, Conservator of Fiji’s Ministry of Fisheries and Forestry. “This project will make a meaningful impact on Vanua Levu and Fiji as a whole.”
Jalesi Mateboto, Advisor of Land Resources Division of the Pacific Community (SPC), stated, “Mangroves play a crucial role in the lives of many Pacific Islanders including thousands of Fijians.” He added, “We are delighted to establish this new partnership and looking forward to working in close collaboration with SK Innovation, Ministry of Fisheries and Foresty, local communities, and other relevant stakeholders.”
Lim Su-kil, Head of SK Innovation Value Creation Center, said, “Through the restoration of mangrove forests of Fiji in the South Pacific region, we aim to achieve not only environmental value creation but also mutual prosperity with the local community.” He added, “SK Innovation will continue to promote various activities, including mangrove reforestation projects, to ensure a sustainable world through the coexistence of humanity and nature.”