Only a limited number of carbon removal companies have so far been set up in Europe. This has led to Mundys’s decision to launch this experimental initiative, with the aim of assessing the solidity of this new area of business. The global carbon credit market was worth approximately US$115 billion in 2024, with this figure expected to rise to around US$300 billion by 2030 and having the potential to grow to over US$500 billion. This is the context in which Neya will operate with the mission to permanently removing carbon from the atmosphere, through solutions such as reforestation and the sustainable management of forests and agricultural land, promoting environmental and social sustainability.

Neya will begin operating right away in Madagascar, promoting a project for the reforestation of 500 hectares along the island’s northern coast (in the Sofia and Melaky regions). Restoration of the plantations in local areas where deforestation has taken place over recent decades will help to remove carbon, by making use of certain types of plant. Mangroves are tropical coastal forests consisting of salt-tolerant trees and shrubs typical of coastal areas, river estuaries and lagoons. They have aerial roots that emerge from the mud or water. They play a key role in protecting against coastal erosion and storms, and host a wide range of species of fish, birds and crustaceans. They also store a large quantity of carbon.

The project, dubbed “Ma Honko”, will be managed by a local company that will create jobs locally in line with Mundys’s goal of creating value throughout the chain, a central plank of its sustainable business vision. The activity meets the requirements for Gold Standard certification. This is an international body that certifies the quality and credibility of projects set up to cut greenhouse gas emissions, whilst also resulting in measurable social and environmental benefits.

The resulting carbon credits can, over time, be used to offset the emissions from Mundys’s infrastructure assets, which are in turn being progressively reduced as the Parent Company’s sustainability framework is implemented. Mundys’s transparent and responsible ESG strategy has resulted in the Group’s inclusion – for the third year running – in the A-list compiled by CDP (formerly the Carbon Disclosure Project), the global rating agency that assesses the climate and environmental performances of over 25,000 companies.

The Parent Company has achieved numerous milestones along its sustainability roadmap, including in terms of innovative leadership, with Neya marking the next step on the journey. Mundys was one of the first companies in Italy to adopt a Climate Action Plan to help drive the energy transition and decarbonise economic activity throughout the value chain for airports, motorway and mobility services. This has involved setting clear, concrete targets, including a commitment to cutting net direct (Scope 1 & 2) emissions to zero by 2040.