Bunge Launches Innovative REDD Project in Brazilian Amazon
Bunge Limited today announced it is participating in a project that will avoid approximately 30 million metric tons of CO2 emissions and generate carbon credits through the preservation of 70,000 hectares of native forest in the Amazon biome. The project, 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).
"This unique project is a clear demonstration that sustainable forest management and payment for environmental services (PSA) can be an economically attractive, long-term option for private landowners," said Alfred Evans, Manager, Bunge Environmental Markets and CEO, 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."
The 30-year project will begin in the second half of 2012, and is expected to avoid approximately 1 million metric tons of CO2 per year. It is located in the municipal district of Colniza in northeastern Mato Grosso state.
In addition to contributing technical expertise and ensuring quality and alignment with the Verified Carbon Standard (VCS), Bunge Environmental Markets 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, Corporate Affairs and Sustainability, 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."
Bunge Brazil has an energy matrix comprised of more than 90% renewable sources, and it estimates that its projects related to bioenergy production will generate electricity to meet the needs of four million urban dwellers by 2016. In 2011, Bunge Brazil issued carbon credits representing a surplus of 20% over the company's emissions in the country during the year.
About Bunge LimitedBunge Limited ( www.bunge.com , NYSE: BG) is a leading global agribusiness and food company with approximately 35,000 employees in more than 30 countries. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat and corn to make ingredients used by food companies; and sells fertilizer in North and South America. Founded in 1818, the company is headquartered in White Plains, New York.
About Bunge Environmental MarketsBunge Environmental Markets (BEM), part of Bunge's Financial Services Group, acts globally to help companies manage their greenhouse gas emissions and develop emissions reduction projects. These projects may generate carbon credits that can be commercialized with other companies and governments, creating economic incentives for investments in the green economy. Based in Geneva, Switzerland and active in carbon markets since 2004, the group oversees emissions reduction services provided by Bunge's Ecoinvest Carbon SA subsidiary, the Bunge Emissions Fund and Climate Change Capital.
About Bunge BrazilActive in Brazil since 1905, Bunge is one of the main agribusiness and food companies in the country and one of its major exporters. Bunge has integrated operations from the farm to the dinner table. These range from the production and commercialization of fertilizers, the purchase and processing of grains (soy, wheat and corn), food production (oils, margarines, mayonnaises, olive oil, rice, flours), to sugar and bioenergy production and port services. The company currently has more than 20 thousand employees working in approximately 150 facilities including factories, ports, distribution centers, mills and elevators located in 19 states and in the Distrito Federal. Brands such as Serrana, Manah, Salada, Soya, Cyclus, Delicia, Primor, Etti, Salsaretti and Bunge Pro not only have deep ties with Brazil's economic history, but also with social customs, scientific research, technological innovation and the formation of generations of professionals.