Harbinger Times

The Sol do Sertão Renewable Energy Project has become a milestone in the low-carbon energy transition agenda by being the first in Latin America to be approved by the Global Carbon Council (GCC). The project, developed by Future Carbon in partnership with Essentia, is located in Oliveira dos Brejinhos (BA), 600 km from Salvador, and has the potential to transform the region. Its socio-environmental criteria were approved by the Global Carbon Council after an international independent audit.

The Global Carbon Council is an internationally recognized standard in the market with a presence in England and the Middle East, with over 1,500 projects in its portfolio. The standard is well-recognized in the global carbon market, gaining approval from global players such as ICROA and CORSIA for the purchase of credits.

“This is a milestone for Latin America and Brazil. The climate and carbon agenda is for first movers, those attuned to the trends of the new green economy. Future, in partnership with Essentia, becomes a pioneer in the carbon credit agenda for energy transition. We unlock an opportunity previously unseen in the Latin American market. Brazil is consolidating itself as a global protagonist in the global energy transition agenda, and some Brazilian companies are already riding this wave. Energy transition carbon credits, applied to renewable energies, help to enhance and accelerate the confidence of investors, market players, and global buyers. Those who believed in the disruptive potential from the beginning are reaping the rewards, supporting a positive climate agenda, and creating value for the company,” evaluates Fabio Galindo, CEO of Future Carbon.

Sol do Sertão Project

With a centralized total solar energy generation of 415MW and an estimated annual generation of 345,000 tCO2e/year, the Sol do Sertão Project is marked by high integrity, high quality, and high impact. It is a partnership project between Future Carbon and the Essentia group, the area’s owner. The project’s energy transition credits are based on Beyond Carbon, a new generation of carbon credits based on integrity and impact, inspired by the rules of ICVCM/VCMI and the model of the United Nations’ Social Development Goals. The Sol do Sertão project contributes to SDGs 2, 4, 7, 8, and 13.

“It was an important journey to the approval of the Sol do Sertão project, with many lessons learned. We managed to create a technically consistent and socially impactful model. Thus, we were able to approve the project and issue energy transition credits with the GCC, a globally recognized standard. Beyond the amount of carbon to be removed, the beauty of this project is that it directly impacts the improvement of life in the community of Oliveira dos Brejinhos. Over the 10-year duration of the project, approximately 25 tons of food will be provided to needy families since the municipality has an HDI of 0.554. And we are working directly with the school community, knowing the multiplier potential of education,” says Rafael Borgheresi, Head of Energy Transition at Future Carbon.

Future Carbon is the largest player in Latin America in energy transition carbon credits, with over 30 projects in development with major global energy players operating in Brazil.

The project’s quality caught the attention of auditors, who classified it with a platinum seal. The seal places the project among the top 4 projects in the world. “The quality seal is a recognition of our technical team, highly competent in project development, and also of our operating model, which, in addition to addressing environmental issues, incorporates social indicators to be achieved and channels resources for positive social impact. We only work on projects that do not have benefit-sharing with the community. It’s a deal-breaker for Future Carbon,” adds Rafael Borgheresi.
 
More information: http://www.linkedin.com/company/futurecarbongroup/

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Country: Brazil
Website: futurecarbon.com.br