Ecobreves – VENEZUELA: More Carbon Credits

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CARACAS, Apr 29 2006 (IPS) - The Andean development agency CAF, the financial arm of the Andean Community of Nations (CAN), finalized an agreement with the Brazilian company Jalles Machado, which produces alcohol from sugarcane, for the purchase of 110,000 tons' worth of carbon credits, as established by international efforts to curb climate change. “In 2002 an agreement and fund was set up between the Dutch government and CAF for the purchase of reduced emissions of greenhouse gases, as outlined by the Kyoto Protocol, which commits industrialized countries to reducing emissions or purchase reductions in countries of the South,” Jorge Barrigh, representing the CAF carbon program, explained to Tierramérica.

The co-generation of energy by Jalles Machado produces carbon credits because it reduces the need for fossil fuels at thermoelectric plants. The sum of the trade was not revealed due to a confidentiality clause in the contract.