Bunge in project to avoid CO2 emissions
June 12, 2012
by Eric Schroeder
WHITE PLAINS, N.Y. — Bunge Ltd. is participating in a 30-year project that will avoid approximately 30 million tonnes of CO2 emissions and generate carbon credits through the preservation of 70,000 hectares of native forest in the Amazon biome. The project, which was developed through a partnership between Bunge Environmental Markets and Florestal Santa Maria, is one of the first to generate tradable carbon credits on private land under the principle of Reducing Emissions from Deforestation and Forest Degradation (REDD). The project will be located in the municipal district of Colniza in northeastern Mato Grosso state.
“This unique project is a clear demonstration that sustainable forest management and payment for environmental services can be an economically attractive, long-term option for private landowners,” said Alfred Evans, manager of Bunge Environmental Markets and chief executive officer of Climate Change Capital. “We are pleased that it will commence shortly after the RIO+20 summit, which is bringing needed focus to the development of environmental markets.”
In addition to contributing technical expertise and ensuring quality and alignment with the Verified Carbon Standard, Bunge Environmental Markets said it has committed to acquiring carbon credits generated in the first years of project operation.
“Reducing deforestation and improving the sustainability of agriculture are important pillars of Bunge’s sustainability efforts in Brazil,” said Adalgiso Telles, director of corporate affairs and sustainability for Bunge Brazil. “REDD projects can be an income source for Brazilian farmers, a driver of the green economy and an important tool in shaping smart land use planning.”