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Precious Woods Carbon & Energy
The Precious Woods business segment Carbon & Energy comprises trade in CERs and shares of a power plant fuelled with restwood. Starting in 2005, Precious Woods operated a biomass power plant in Itacoatiara, Brazil, that had been in operation since 2002. Effective 1 April 2012, Precious Woods sold 40% of its shares in the biomass plant and consequently reduced its stake from 80% to 40%. The sawmill of PW Amazon is still the sole biomass supplier of the plant. The plant is listed as a climate change relevant project replacing diesel with biomass and thus renewable energy. The project complies 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