Presentations to Diffuse Sector companies

Companies response

LIFE CO2RK is holding formal meetings with companies operating in Andalusia to explain the project’s objectives, how they can support it, and the benefits for them and for society as a whole of joining CO2 Emissions Offsetting Projects.
They would translate not only into compensation but also into the recovery of the Cork Oak Forest as an ecosystem of great environmental value and a source of wealth and employment in many regions of the Iberian Peninsula.

The response is exceeding expectations, even though the LIFE CO2RK project is still in its initial stages, developing scientific methodologies to rigorously measure how much CO2 each hectare of cork oak forest sequesters, as a basis for later certifying offsets and fostering the creation of a carbon credit market.

Presentation events

In addition to the individual contacts maintained by CO2RK Director Juan Manuel Fornell with large companies (“national/European champions”) such as AIRBUS, ENEL, MAERSK… the project is developing formal events with large and medium-sized companies whose headquarters are in the province of Cádiz.
They develop activity at a global level but are very familiar with the Los Alcornocales Natural Park and are highly motivated to support its regeneration.

CO2 Emissions Offsetting and Climate Change

Emissions offsetting is the latest step in Climate Change Mitigation measures, which seek to slow climate change and prevent the planet from warming by 1.5°C by 2050, with the resulting impact on the environment, agriculture, natural disasters, and human health.

The first step is emissions reduction, which requires a prior audit to determine how much each company emits and what its most harmful activities are. The Andalusian Emissions Compensation System (SACE) helps companies in the diffuse sector audit, reduce, and, through LIFE CO2RK, offset their emissions.

Expectation

Companies that participated in the presentation meetings expressed great excitement, even though CO2RK is still in the deployment phase.

• 20% of the UDAs (units of Carbon absorption) will be financed in advance (UDAS EX-ANTE) to help the owner in the execution of the initial tasks
• 70% UDAS in EX-POST payments after each verification, but this issue is not yet defined: if 10-year agreements are chosen instead of SACE’s 30-year claim, a verification would give the right to approximately 20% UDAs
• 10% UDAs will be held in a GUARANTEE FUND with which the Administration (Regional Ministry) can compensate an owner in the event of a force majeure event, such as a fire during the period in which it has been executing a compensation agreement