Snam becomes sole shareholder of Arbolia
Snam has acquired 49% stake from Fondazone CDP
Snam has completed the acquisition from Fondazione CDP of the 49% stake in Arbolia, the benefit company established at the end of 2020 to develop urban forestation initiatives in Italy. Snam, which already owned 51% of the company, thus becomes its sole shareholder.
The transaction is the result of Snam's desire to benefit more from the skills acquired by Arbolia in the field of forestation, integrating them with the industrial and technical skills gained by the company through environmental restoration related to infrastructure projects.
During the first two years of activity, Arbolia's interventions were supported by the experience and implementation skills of its promoters: Fondazione CDP has been a key partner in the growth of the benefit company, contributing to the creation of social, economic and environmental development opportunities for Italian cities and territories.
Arbolia has created with support from many local companies and institutions 31 urban forests in 24 municipalities distributed all over Italy, for a total of more than 70 thousand trees planted. When the trees will be fully grown, the new green belts will absorb more than 8,900 tonnes of carbon dioxide (CO2) in twenty years and up to 34 tonnes of particulate matter (PM10) per year, returning 6,500 tonnes of oxygen (O2) to the environment in twenty years.
