Future Carbon has its carbon credit project approved among the top 4 in the world
Brazil, recognized in geopolitics as the main protagonist of the global green agenda, is beginning to take the first steps to occupy this leadership position. The Sol do Sertão Renewable Energy Project “opened the gate” and became a milestone in the low-carbon energy transition agenda by being the first approved in Brazil and throughout Latin America by the Global Carbon Council (GCC). And the detail that caught the most attention: the project was approved with a platinum quality seal, placing it among the top 4 projects in the world.
The project, developed by Future Carbon in partnership with Essentia, is located in Oliveira dos Brejinhos (BA), 600 km from Salvador, has the potential to transform the region, and had its socio-environmental criteria approved by the Global Carbon Council after an international independent audit.
With a centralized solar energy generation totaling 415MW and an estimated annual generation of 345 thousand tCO2e/year, the Sol do Sertão Project is characterized by high integrity, high quality, and high impact. It is a project in partnership with Future Carbon and the Essentia group, owner of the area.
The Global Carbon Council is an internationally recognized standard in the market with a presence in England and the Middle East with several projects in its portfolio. The Standard is well recognized in the global carbon market, having approval from global players such as ICROA and CORSIA for the purchase of credits.
The agenda for integrity and quality of carbon credit projects is the major trend in the global carbon market and was the focus of the recent COP-28, held last December in Dubai. Future Carbon has created a proprietary project development model called “beyond carbon,” which means a product that goes “beyond carbon.”
Future Carbon CEO Fabio Galindo explains the company’s strategy and product. “The carbon market 1.0 was based on carbon credits limited to one ton of avoided carbon emission, that is, limited to the environmental agenda. The market trend is to incorporate new layers of value into this credit, especially focused on integrity and positive social impact. This is the carbon market 2.0 and this is the value proposition of Future Carbon.”
The head of the Future Energies Transition division, Rafael Borgheresi, explains the project’s development.
“The energy transition credits of the project 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 UN Social Development Goals. The Sol do Sertão project contributes to SDGs 2, 4, 7, 8. We were able to assemble a technically consistent and high social impact model. Thus, we were able to approve the project and issue energy transition credits with GCC, a globally recognized standard. Beyond the amount of carbon to be removed, the cool thing about this project is that it directly impacts the improvement of the lives of the Oliveira dos Brejinhos community. Over the 10-year project duration, approximately 25 tons of food will be provided to needy families, after all, the municipality has an HDI of 0.554. And we are working directly with the school community, as we know the multiplier potential of education,” says Rafael Borgheresi, Head of Energy Transition at Future Carbon.
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Country: Brazil
Website: futurecarbon.com.br
