Beijing/Munich, 5 February 2018 | News Release
At the end of 2017, UPM had a record-breaking sale of nearly 720,000 CERs. The buyer was German carbon offset retailer Fokus Zukunft GmbH & Co. KG who will cancel them on behalf of a well-known private sector end-user to compensate for 720,000 tCO2e of greenhouse gas emissions.
All carbon credits of this transaction were generated after 2012 by two large-scale industrial methane recovery and waste water treatment projects in China. Both CDM projects have been developed by UPM together with its long-term Chinese cooperation partner Uniufa Energy Technology Co., Ltd., a leading specialist in the field of organic waste treatment, energy efficiency and renewable energy.
“This king-size transaction shows that companies with ambitious voluntary climate action targets become increasingly important as a source of demand for carbon offsets while the market is still waiting for more clarity about the rules of the new international market mechanisms under the Paris Agreement.” says UPM’s managing director Martin Dilger.
Peter Frieß, his counterpart at Fokus Zukunft, agrees: “More and more companies from all industries do not just wait for political action but feel responsible themselves for protecting the climate in line with science-based targets. Hence, voluntary offsetting of those carbon emissions that cannot be avoided yet could play a major role for keeping global warming within safe limits.”
For further information about UPM and its attractive carbon offset portfolio please contact:
Martin Dilger, Managing Director, UPM Germany
mdilger(at)upm-cdm.eu, T: +49 89 1222197-50
Guo Gaiai, Vice General Manager, UPM China
guog(at)upm-cdm.eu, T: +86 10 6468 0500-13