Carbon credits emission 2024: A commitment to sustainability

Last Friday, March 21, we issued the credits related to the forestry inventory, which covers the growth of the InverBosques project’s plantations during the period from July 27, 2020 to September 30, 2022. This issuance of credits marks a milestone in our trajectory, evidencing our solid commitment to sustainability and the hard drive we have put in to achieve this landmark accomplishment.

During this issuance, a total of 1,168,981 bonds were distributed, which represents the capture of a significant amount of tons of CO2 during the referred time period. With this action, our project has accumulated a total of 2,004,799 credits issued throughout its history, highlighting our ongoing commitment to environmental sustainability.

It is important to emphasize that, although this emission was initially expected to be available during the last quarter of 2023, it was postponed until this recent week because after the events of the carbon market in the last few months, in which the integrity and proper development of several projects around the world have been questioned, the appraisal criteria have been tightened and we were subjected not only to a deeper and more detailed review, but also to comply with additional information requirements, subsequent to the delivery of positive audit reports.

Our position as leaders in sustainable and responsible practices in the forestry sector has allowed us to respond in a highly professional manner to the growing demands of the market in terms of its sustainability and the implementation of increasingly stringent requirements for CO2 capture projects.

We recognize the challenges involved in meeting quality and sustainability standards in today’s market. However, we are proud to have developed a project that has been able to meet these demands and turn our vision into reality. In this regard, we express our sincere thanks to all our partners who have been an integral part of this journey, including Forestry Consulting Group and Forliance, whose dedication and collaboration have been fundamental to the success of this venture. We also extend our appreciation to our auditors, Carbon Check and AENOR, for their serious, strict and rigorous work, which has corroborated our compliance with the established standards.

This issuance of credits is a testament of our commitment to sustainability, quality, and environmental responsibility. We will continue to work arduously to sustain and strengthen these principles in all of our operations, thus contributing to the care and preservation of the environment for future generations.