Rio Conventions Pavilion TV, CBD COP11 (12/10/2012) – Bernard Giraud, President of Livelihoods Venture, discusses the Livelihoods Fund that his company operates seeking to combine poverty alleviation with carbon emission reduction.

Giraud explains that it is a mutual fund aiming to support the restoration of ecosystems that provide livelihoods to local populations. He gives a particular example of a project they invested in seeking to restore mangroves in Senegal, providing a livelihood for the local community through fish and wood.

Giraud describes the carbon credits given in return for companies’ investment as having a much higher social value than most credits bought on the open market. He affirms that companies see the fund as a learning opportunity as well as an offsetting opportunity.

Giraud is quick to emphasise that the companies – including Danone, Crédit Agricole, Hermes International, the French Postal Group and Schneider Electric – are also working on reducing their own emissions through a wide variety of measures. He states that the fund is currently worth €30 million.