Veon and Simosol announce international collaboration
Veon has announced today 2nd September 2020 that it has entered into collaboration with Simosol, the Finnish based global leader in providing solutions for optimized forestry, dynamic forest carbon modelling, and forest data acquisition.
The collaboration involves the deployment of Simosol's forest management planning software IPTIM across a range of Veon’s institutional clients’ managed forest portfolios in Ireland. Veon is utilising Simosol’s IPTIM software to create optimised management plans for the next decade for its institutional clients. IPTIM enables dynamic forest modelling capabilities and forest optimisation based upon each client’s portfolio objectives and facilitates time-series stress testing.
Veon partnered with Simosol earlier this year using their IPTIM software to develop the first carbon report in Ireland on an existing forest portfolio.
Veon’s CSR project in sub Saharan Africa will also benefit from the collaboration with Simosol including solutions for asset inventories with Artificial Intelligence, forest asset modelling and simulation, increased supply chain visibility and optimisation, and assessing forest carbon balance and forecast scenarios. Veon’s primary CSR project in Africa is expected to exceed Ireland’s total annual national planting target by a factor of five in its first year of operation and Simosol’s software will play an important role in achieving this objective.
Both companies each recognise their deep commitment to developing and protecting ecological balance, biodiversity enhancement and the role of professional forest management in helping to combat Climate Change. Veon and Simosol will now continue to further develop their collaborative approach utilising their core areas of expertise and complementary skills to promote professional forest management with state-of-the-art software for Veon’s existing commercial forest portfolios in Europe and CSR forest portfolios in Africa.
For further information
Simosol Oy: Forests serve an increasingly important role in providing raw material for modern bio-manufacturing processes as well as source of well being. The sustainable use of wood resources requires optimization of the whole value chain from the forest through the production plant and back to replenishing forest resources. Simosol is the leading provider of services for forest, crop & carbon mapping and monitoring, supply chain optimisation and forest & biomass project valuation. For further information, please visit our website www.simosol.fi
Veon: Headquartered in Ireland, Veon Ltd manages high quality commercial forest portfolios for institutional and private owners in Ireland and Scotland. Veon’s international consulting division is currently engaged in sourcing, delivering and managing CSR and impact investment projects on behalf of our international clients in sub Saharan Africa and Southeast Asia. For further information, please visit our website at www.veon.ie