Peugeot and the ONF announce the launch of the sale of carbon credits

Outside the XII Scientific and Technical Council of the Peugeot carbon sink forest and ONF (French Agency for Forest) has been developed at the University of Brasilia from 2 to 4 November and has brought together dozens of political, scientific and academic Brazilian and French, Peugeot and ONF announce the launch successful, the sale of "carbon credits" resulting from the project. This operation must secure additional funding to the project for an amount of 1,000,000 euros.

In the spirit of the project and the cooperation agreement signed between Peugeot and the ONF, this amount will be reinvested in full in the environmental objective, scientific and socio-economic development of the project started in 1998 and projected to 2038. This amount corresponds to the valuation of 110,000 tonnes of atmospheric CO2 captured by the device developed in the reforestation Cotriguaçu region, in northwestern Mato Grosso State, within the legal Amazon.

Carbon credits are marketed under the VCS protocol (Verified Carbon Standard) methodology according to internationally defined measurement rules. Certification of this class of assets linked to the implementation of carbon sequestration project was carried out by a double audit, Ernst & Young and TUV-SUD. Obtaining this quality rating awarded by recognized independent observers, to consolidate the enormous seriousness of the project and the rigor of its scientific monitoring.

The forest carbon sink Peugeot-ONF thus becomes the first forestry project in Brazil that emits carbon credits certified under the VCS protocol and the second at the South American continent, thus adding another achievement to its dynamic continuous innovation.

Marcel Bursztyn, president of the Scientific Council of the carbon sink Peugeot-ONF and professor of economics and policy within the Sustainable Development Center at the University of Brasilia said: "The acquisition of carbon credits for the project is a great satisfaction for the Scientific Council of the project. This acquisition marks an important stage in the registration of the project in a dynamic and sustainable development of autonomous development. "

Jean François Dhote, Head of Research ONF, and Marc Bocqué, driver of forest carbon project Pozo within Peugeot, declared: "The Well of forest carbon project Peugeot ONF, thanks to this new development, starts this new decade under the best omens and bringing benefits to all parties involved in it. "

Well the draft Peugeot-ONF Carbon in the Amazon than in this way a new phase in its development after the signing in November 2009 of a conversion agreement in Natural Heritage Private Reserve of 1,800 acres of high value for diversity, with the State of Mato Grosso.