SAP AG (NYSE:SAP) has announced it will join the Livelihoods Fund with an investment of EUR3 million. The Livelihoods Fund is a carbon investment fund organized as an investment company, with the goal to create social value for rural communities and contribute to their food security through the restoration of their ecosystems. Put in simple words, the fund plants trees, which fights climate change and poverty.
“This investment supports our vision of helping the world run better by improving people lives,” said Peter Graf, Chief Sustainability Officer, SAP. “It confirms our sustainability commitment of reducing our greenhouse gas emissions to the level of year 2000 by the year
2020, representing a decrease of more than 50 per cent. To date, we have achieved a reduction of 18 per cent and avoided cost in excess of more than EUR220 million over the last four years.”
“SAP is executing across all three pillars to achieve our target reduction. Through our partnership with the Livelihoods Fund, SAP will
not only purchase carbon credits and offset emissions, but we will produce carbon credits. This provides an innovative, affordable and partnership-oriented way to reduce our emissions that will once again underline our leadership in the sustainability space,” said Peter Rasper, Executive Vice-President of Global Finance Infrastructure, SAP, and SAP representative……See More