The Dakar Rally, the most important vehicle race in the world, has decided to mitigate the rally specific emissions that will be generated in its 2011 edition, with the purchase of 15.500 tons of CO2 of the Madre de Dios Amazon REDD Project.
Scotia Bank Peru has acquired 16.000 tons of CO2 from the Madre de Dios Amazon REDD Project in September 2010. In this way, Scotia Bank assumes a commitment with the environment, through its participation in the conservation of the Amazon Rainforest and its initiation of the process to become Carbon Neutral.
The international fair for the integral processing and industrialization of timber, Maderexpo, which took place between the 19th and the 22nd of August, 2010 in the LATU Exhibitions Park, has taken the decision to become Carbon Neutral, that is to say free of greenhouse gas emissions. This innovative decision of its organizers implies their important commitment to environmental and social aspects. Through an agreement with Greenoxx, Maderexpo is committed to reduce the greenhouse gas emissions resulting from its activities and compensate those emissions that cannot be avoided through the purchase of carbon certificates from projects validated and certified by the most stringent standards internationally.
The Union of Exporters of Uruguay (UEU), has taken the innovative decision of transforming the Exports Day in Carbon Neutral, that is to say free of greenhouse gas emissions. Through an agreement with Greenoxx, the UEU has taken a strong commitment towards sustainable development, in each of its activities. With this decision the UEU will be actively mitigating the effects of climate change, through its support to the Amazon conservation project, Madre de Dios Amazon REDD Project, validated by the internationally most stringent standards.
Greenoxx has commercialized the first 40,000 tons of CO2 from the Madre de Dios Amazon REDD Project.
Specifically, certificates from the 2006 to 2009 vintages were sold at a 7 dolar price per ton. The important environmental and social co-benefits of the project (CCB Gold), as well as its registration in Markit Environmental Registry, allow the commercialization of the project at higher prices.
Madre de Dios Amazon REDD Project, developed and financed by Greenoxx, has been awarded as the Innovative Eco-Initiative of the month by Eco-Index, a service of the Rainforest Alliance. This is the first project to achieve this award granted by the above institutions, in the carbon markets category.
Madre de Dios Amazon REDD Project was distinguished because it aims to dramatically reduce deforestation and provide benefits to local communities in the Peruvian Amazon by increasing surveillance activities and providing alternative sources of income.
In May 2010, Greenoxx registered Madre de Dios Amazon REDD Project in Markit Environmental Registry.
Due to its CCB Gold qualification, the project is registered in Markit, with the commitment to validate it according to the VCS Standard when the appropriate methodological tools are available for said Standard.
The registry of the project is essential for its commercialization, since it is the only way to guarantee to the buyer the property of the certificates, as well as to avoid the double counting risk, giving the Project the highest transparency.
On 12th and 13th May 2010, in Brasilia, 2010 Greenoxx participated of the World Agricultural Forum - Latin America, where Latin America's highest profile leaders were reunited.
Eng. Rocco Cheirasco, Greenoxx’s Chairman & CEO, was a panelist at the Climate Change roundtable together with other international experts in climate change. Along with a focus on climate change, biofuels, and infrastructure, the Forum aim was to reach a better strategy to help alleviate mounting food shortage issues. The Latin America Forum aims to contribute to creating best practices for the region, building sustainable agriculture.
Madre de Dios Amazon REDD Project has been selected as a pioneering and innovative project within the voluntary market and therefore has been chosen to integrate the reports elaborated by the Amazon Conservation and Sustainable Development Institute - Idesam and The Nature Conservancy, which have been published during COP15 (Conference of the Parties in Copenhagen, December 2009). The project also integrates reports elaborated by Conservation International, the UNFCCC REDD web platform, the Woods Hole Research Center and The Forest Carbon Portal.
In December 2009, the Madre de Dios Amazon REDD Project was approved according to the Climate, Community and Biodiversity Standards (CCB). Due to its high social and environmental sustainability the project obtained Gold Level, being one of first REDD projects worldwide to achieve said status.
Madre de Dios Amazon REDD Project has been developed by Greenoxx NGO, who also financed an important part of the project and has its exclusive commercialization.
Greenoxx’s President, Eng. Rocco Cheirasco, participated as keynote speaker in the First CCBA Workshop for Facilitating REDD Projects (Reducing Emissions from Deforestation and Forest Degradation), which took place in Tarapoto, Peruvian Amazon, during the 20th to 22nd April, 2009. Cheirasco was invited to participate in this event by the Climate, Community and Biodiversity Alliance and by the Conservation International Foundation, exposing on market issues for the Carbon Forestry Market and Standards for REDD Projects.
During 30th and 31st October, 2008, the XXIII Forestry Congress of Entre Ríos, took place in the Experimental Station
of the INTA Concordia, Argentina. Said Congress has been taking place uninterruptedly since 1986, always having the objective of exchanging and transmitting information and experiences among all the integrants of the forestry sector
in the region.
Usually, between 300 and 400 participants from Argentina, Uruguay, Brazil, Paraguay and Chile are present, besides people from other countries. The conferences were given by specialists in each area, coming from Argentina, Brazil, Uruguay and South Africa. Eng. Rocco Cheirasco, President of Greenoxx, closed the conference cycle, talking about “Carbon Credits” generated by commercial forest plantations.
On June 7th, 8th and 9th, 2008 the 5th meeting for CCX Members took place in the city of Chicago. Said meeting brought together projects, members which need to reduce emissions, brokers and directors of this board of trade. Richard Sandor, Chairman of the CCX, explained on the growth of this market and the positioning of the CCX within it, evidencing new volume and price records in the commercialization of CO2 reductions. He also anticipated the inclusion and participation of the CCX offsets in the world known Dow Jones from the New York Stock Exchange.
Greenoxx was actively present in the event, through the presentation of the Banking Pension Fund Project by its Vice-president, Silvia Gomez Caviglia. Said project was selected as exemplary together with other three projects from the US and India. Furthermore, the Banking Pension Fund, registered by Greenoxx, was the only forestry project selected worldwide.
A new commercialization of carbon by the Greenoxx Global Environmental Program was made effective in the first quarter of April 2008. The price obtained by this transaction was above all expectations, reaching a price per ton of CO2 of USD 6,10.
This trading operation is the second one carried out by Greenoxx in the Chicago Climate Exchange market, already achieving a volume of 1 million tons in the first quarter of the year.
During the first week of February 2008 the Banking Pension Fund Forestry Project from Uruguay, traded through the Greenoxx Global Environmental Program, a total of 678.700 tons of CO2 in the Electronic Trading Platform of the Chicago Climate Exchange (CCX).
Such operation was effected at a historical record price of USD 4 per ton, transforming the first participation of the institution in the environmental markets into a very positive experience.
The environmental project, carried out by GGEP, is the first forestry project from Uruguay to be commercialized in the Voluntary Carbon Markets. At the same time, it is the third forestry project from Latin America to be commercialized in the Chicago Climate Exchange.
The Banking Pension Fund has a very important social component which makes a difference with the rest of the forestry projects in Uruguay and the region. This resulted in a very high qualification of the project by international auditors, as well as in a high demand for the project.
Due to the aforementioned, the Banking Pension Fund Forestry Project, would be additionally standardized according to the requirements of the Climate, Community and Biodiversity Alliance, with the objective of incrementing even more the value of the CO2 tons that the project is sequestering.