Geneva, April 26th, 2020: Pelletics, the Costa Rican-based biomass energy producer, is the latest company to join the Pond Foundation, a not-for-profit dedicated to removing carbon from the atmosphere.
Each year, Costa Rica produces more than 1.2 million tonnes of wood, 40 per cent of which ends up as waste. Founded in 2010, Pelletics takes this wood and other agricultural waste from sawmills and cassava cultivation and turns it into high energy density fuel pellets. This fuel replaces fossil fuels such as petroleum coke, bunker, diesel and LPG Gas with the Pelletics plant able to produce 2,000 tonnes of pellets per month.
The Pond Foundation manages My Carbon Zero, an initiative established to help firms and individuals take immediate, serious, and credible climate action, through four simple actions:
- Reduce their own emissions
- Reduce emissions elsewhere without offsetting
- Remove their lifetime carbon emissions from the atmosphere
- Inspire others to join the journey
The My Carbon Zero initiative helps companies deal not just with today’s emissions, but with their ‘legacy’ emissions - all the carbon they’ve emitted since their inception - and helps them develop and implement a strategy to take the strongest climate action possible.
My Carbon Zero has determined Pelletics’ Carbon Balance since its inception in 2010 to be nearly 19,000 tCO2e. This is calculated according to the principles laid out in the Greenhouse Gas Protocol – Scope 1, 2 and 3 – and in alignment with ISO14064, the global standard for determining a company’s carbon balance.
However, during this process, the Pond Foundation was also able to prove and quantify the amount of carbon that Pelletics’ operations have prevented being released into the atmosphere.
As Pelletics’ clients have switched to burning waste wood pellets rather than fossil fuels, Pelletics is responsible for **preventing 82,624 tCO2e being released into the atmosphere**. Pelletics can now introduce these carbon reduction credits to the market for investment.