SOURCE: SCS Global Services

SCS Global Services

SCS Global Services

SCS Global Services

January 26, 2015 09:00 ET

CO2OL Tropical Mix Successfully Earns Gold Standard Performance Certification

Verified Carbon Credits

BONN, GERMANY--(Marketwired - Jan 26, 2015) - The climate protection project CO2OL Tropical Mix has successfully undergone the "Performance Certification" under the internationally recognized Gold Standard. As a result, and for the first time, verified carbon credits from a Gold Standard certified afforestation project are available for trading. The certification verifies that more than 209,000 tons CO2e of carbon dioxide has already been fixed within the project, rather than released into the atmosphere.

The CO2OL Tropical Mix project plan was initially certified according to the strict criteria of the Gold Standard Land Use & Forests Programme since 2013. Now, CO2OL Tropical Mix has completed the next phase -- a Performance Certification -- conducted by the independent auditor SCS Global Services. Apart from reviewing all technical documents and confirming CO2 calculations (measured in tons of carbon dioxide equivalents), the audit process also involved on-site visits of the project areas in Panama. During the visit, the SCS auditors examined the forests thoroughly, checked the monitoring data, and interviewed employees and stakeholders. The final SCS audit report was then reviewed and validated by a team of technical experts from the Gold Standard Foundation.

"The determination and valorization of an expected CO2 fixation is of crucial significance for the sustainable implementation of afforestation projects, and is expressly supported by us," said CO2OL CEO Dirk Walterspacher. "The confirmation of a positive impact on climate protection that has already been brought into effect is a strong signal proving the quality of the Tropical Mix project, which leads us to expect an increased attractiveness of the carbon credits on the international market."

"CO2OL Tropical Mix shows how Gold Standard's rules for Afforestation and Reforestation reduce pressure on natural forests," said Pieter van Midwoud, Director of Business Development Land Use and Forests at The Gold Standard Foundation. "And when those environmental benefits are combined with new local jobs and sustainable production of commodities -- that's where good outcomes become great."

"We wish to congratulate CO2OL for its demonstrated accomplishments in actively sequestering carbon dioxide," said Dr. Robert J. Hrubes, SCS Executive Vice President. "Precedent-setting projects such as CO2OL Tropical Mix provide benefits for communities, ecosystems, and the climate." 

The project has set benchmarks repeatedly in the past. CO2OL Tropical Mix was the first triple-certified afforestation project worldwide, has been Gold Standard certified since 2013, and includes the first cocoa areas that have met the new Land Use & Forests Programme standards since 2014.

Further information about CO2OL Tropical Mix can be found at www.co2ol.de.

Further information about the independent audit process can be found at www.scsglobalservices.com/carbon-offset-verification.

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