Precious Woods Carbon & Energy
The Precious Woods business segment Carbon & Energy comprises trading in CERs and shares in a power plant fuelled with waste timber. Since 2005, Precious Woods ran this biomass power plant in Itacoatiara, Brazil which had been in operation since 2002. Effective 1 April 2012, Precious Woods sold 40 % of its shares in the biomass power plant and reduced its own share from 80 % to 40 %. However, the sawmill of PW Amazon is still the sole biomass supplier of the plant. The plant is a climate project replacing diesel with biomass and thus renewable energy. Climate projects comply with the Clean Development Mechanism (CDM) of the Kyoto Protocol. The resulting CERs have been traded since 2011 by the myclimate foundation1 on behalf of Precious Woods.
1 myclimate is a Switzerland-based organization set up in 2002 to provide environmentally responsible solutions to individuals and companies. www.myclimate.org