The Brazilian multinational company acquired 100,000 carbon credits derived from the renewable generation by our Ullum Solar Farm
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Natura purchased an aggregate amount of 100,000 Verified Carbon Units (VCUs) from the carbon credit portfolio – Certified Emission Reductions (CERs) – held by Genneia. The VCUs purchased by the Brazilian cosmetics company derive from the renewable energy generation by our Ullum Solar Farm, located in San Juan, and they will be used to offset the corporate carbon footprint generated by Natura from 2018 to 2020 under its Neutral Carbon Program.
CERs are one of the sustainable energy solutions provided by Genneia to companies and organizations interested in offsetting their CO2 emissions. They are tradable certificates i.e., they are exchangeable, at a determined price, and traded on specific markets, such as the Clean Development Mechanism (MDL) operated by the United Nations, and Verified Carbon Standard (VCS), administered by Verra. They can be issued and traded by any such private undertakings with certified reduction of greenhouse gas emissions. For example, renewable electric power generation companies.
Genneia has been a groundbreaking company in Argentina in terms of this environmental initiative. With a certified reduction of 204.000 tons of CO2 emissions per year, our Rawson Wind Farm was the first large-scale plant in Argentina registered with VCS. In 2020, the Ullum Solar Farm added a new chapter to this history and became the first Argentine photovoltaic power generation plant to obtain the license to issue CERs on such market.
In turn, this is not the first time that Natura relies on Genneia to offset its carbon footprint. In fact, in 2015, both companies were parties to the largest VCU purchase transaction ever executed between private parties in the country. At such time, Natura purchased 70,000 VCUs from our Rawson Wind Farm, thus offsetting its emissions generated in Argentina from 2013 to 2016.
Thank you, Natura! for choosing us once again to achieve its contribution against the climate crisis that should drive everyone into action.