Deal reaffirms Mundo Verde Climate's role as a leading global provider of carbon credits and helps to stimulate the voluntary market, which is set for a resurgence following COP28.
Geneva, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Mundo Verde Climate, a global player in climate finance and climate change risk management advisory, announced its pivotal role in one of the most significant transactions of 2023 within the global voluntary carbon market. The company, dedicated to forging a sustainable future for generations, continues to champion green technologies and nature-based solutions in the race to Net Zero.
In a significant stride towards achieving this goal, Mundo Verde Climate has entered into a strategic arrangement with Biotrend Enerji, the most prominent player in the Turkish integrated waste management, waste-to-energy and circular plastics market. This collaboration marks a milestone in the pursuit of mobilizing finance towards new climate change mitigation technologies.
Mundo Verde Climate took an instrumental role in developing the voluntary carbon units from Biotrend’s waste to energy activities through a certification and verification process under VERRA. The transaction, covering over 2.4 million tons of CO2 in total, refers to voluntary carbon credits for release on the international market. Companies can acquire the credits to offset their emissions from unrelated activities.
The deal promises to impact the global voluntary carbon market substantially. Mundo Verde Climate, together with Biotrend, hopes that the initiative will provide much-needed carbon credits to satisfy demand in the voluntary offsetting market and inspire others to advance their projects and stimulate the market.
Reflecting on the efforts of governments at COP 28 to invigorate the global trade in voluntary carbon credits, Ms Gediz Kaya, Managing Partner at Mundo Verde Climate, expressed enthusiasm about the Biotrend arrangement, stating:
"According to Climate Policy Initiative, the amount of financing needed to be mobilized towards climate mitigation technologies by 2030 is $4.3 trillion annually and 21% of that finance is mobilized right now. So we need to take action and we need to decarbonize as fast as possible. This collaboration exemplifies our dedication to fostering international cooperation and collaboration of key industries in pricing carbon so that we can mobilize finance in the fight against climate change. By joining forces with Biotrend, we aim to catalyse transformative change and encourage companies in the energy sector, and other industries, to adopt a sustainable approach to managing their emissions."
The COP28 summit in the United Arab Emirates discussed a number of important factors related to standards and integrity around carbon crediting and recognized the important role of voluntary carbon markets in addressing climate change. Mundo Verde Climate underscores the urgency of global collaboration to address climate challenges and calls for renewed efforts, partnerships, and commitments to mobilize finance. This is vital for accelerating the transition to a low-carbon economy.
Biotrend made a related public disclosure about certified carbon crediting on 8 November 2023, in its 9-month financial statement.
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