LONDON - A plan backed by global energy trader Trafigura to restore African woodlands has ​picked its first four carbon removal projects and aims to invest at least $1 billion over their 40-year lifetime, its carbon ⁠trading chief told Reuters. Part of the Miombo Restoration Alliance, a public-private initiative engaged with 11 central and southern African governments, ⁠the projects ‌cover 675,000 hectares and aim to restore woodlands that would remove over 50 million tons of climate-damaging gases. The non-profit organizations International Conservation Caucus Foundation ​and Conservation International will convene participants and help develop the projects. "We really see the carbon markets as critical, as being able to channel private sector capital in a way that ​makes these projects long-term and sustainable," Hannah Hauman, Head of Carbon Trading at Trafigura told Reuters. Similar credits have sold for above $50 per ton of carbon, which would equate to at least $2.5 billion across the four projects.