Media Alert
CSR DEVELOPMENTS SIGNS MEMORANDUM OF UNDERSTANDING WITH THE UNIVERSITY OF GHANA
Accra, Ghana, April 3, 2008—Clark Sustainable Resource Developments Ltd. (CSR Developments), a privately held company launched in 2005 to secure and operate licenses for harvesting timber from submerged forests, has signed a memorandum of understanding with the Volta Basin Research Project (VBRP) of the University of Ghana to collaborate on the company’s Volta Lake Project. Under an agreement signed with the Government of Ghana, CSR Developments plans to salvage, process and market submerged trees from the Volta Lake. The Project is entirely funded by private investors and has no funding from the Government of Ghana.
“We are honoured to be collaborating with the University of Ghana’s Volta Basin Research Project,” said David Moffat, Director of Sustainability for CSR Developments. “The organization’s extensive knowledge of the Volta Lake and the communities surrounding it will be very helpful to the success of of our company’s timber salvage project.”
The Memorandum of Understanding between VBRP and CSR Developments will enable cooperation in research, development and business activities that are mutually beneficial to both parties and will help facilitate the smooth and timely implementation of the Volta Lake Project.
In the near term, VBRP will provide CSR Developments with advice, technical support and information to assist with the company’s preparation of the Environmental and Social Impact Assessment (ESIA) for the Project. VBRP’s inputs will cover a variety of topics ranging from fisheries to biodiversity, matching VBRP’s broad expertise related to the Volta Lake.
The organizations are looking forward to the results of the ESIA, as they will guide the development of activities under the MOU for the remainder of the five year term. Potential activities may include research in water quality, human diseases, alternative livelihoods, as well as aquaculture development and project monitoring.
VBRP and CSR Developments hope that their partnership will act as a catalyst to encourage other parties, including government institutions, donor agencies, NGOs and corporations, to work together for the sustainable development of the Volta Lake.
ABOUT CSR DEVELOPMENTS
Clark Sustainable Resource Developments Ltd. (CSR Developments) was launched in 2005 to secure and operate licenses to harvest timber from forests submerged by hydro-power reservoirs. The company is committed to its mission: develop resources that create social and financial value while respecting and enhancing the environment. By uniquely applying this triple bottom line business methodology, CSR Developments makes more efficient use of our planet’s natural resources, while benefiting local communities and generating financial value across the board. For more information: http://www.csrdevelopments.com/
UNIVERSITY OF GHANA AND THE VOLTA BASIN RESEARCH PROJECT
The University of Ghana is Ghana’s premier university. Established in 1948, its mission is to develop world class human resources and capabilities to meet both local and international development needs through quality teaching, learning, research and knowledge dissemination. (http://www.ug.edu.gh)
The Volta Basin Research Project is a multidisciplinary research unit of the university, established in 1963 to collect and analyse data available before, during, and after the formation of the Volta Lake, and to provide information for the sustainable management and utilization of resources within the basin. The VBRP’s mission is to attract and maintain highly qualified scientists by providing ideal conditions and facilities for research into all aspects of the Volta Lake ecosystem and for socio-economic development within the basin.
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