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Climagate Ltd and Von Bohlen & Halbach Cie sign brokerage contract for 30 million CO2 certificates of the ISA Carbon Program of the State of Acre in Brazil.
London-based Climagate Ltd and Dubai-based Von Bohlen & Halbach Cie are pleased to announce the signing of a joint venture brokerage agreement. Under this agreement, Climagate Ltd will be responsible for the placement of 30 million CO2 allowances from the State of Acre’s ISA Carbon Program in Brazil over the next two years.
The ISA Carbon Program, a project supported by the German KFW Development Bank from Frankfurt and the German Federal Ministry for Economic Cooperation and Development (BMZ), is part of the REDD Early Movers (REM) Program.
This program, launched by BMZ and presented at the Rio+20 conference in June 2012, rewards pioneers in forest conservation and climate change mitigation. It focuses on countries or regions that have already taken action to protect forests and offers performance-based payments for proven emissions reductions from preventing deforestation.
The state of Acre in Brazil, known for its commitment to forest conservation, is a world leader in this field. Since 1998, the Acre government has been implementing comprehensive forest conservation and sustainable land use policies and promoting sustainable development through incentives. There is a particular focus on communities that depend on the forest, including indigenous peoples and rubber producers.
In recognition of its successes in protecting the environment and curbing forest destruction, the government of the state of Acre is receiving support from the German government under the REM program. This program makes performance-based payments for mitigating emissions from deforestation and invests the funds in further forest and climate protection. This brings numerous benefits for the population and the environment of Acre.
The first program phase of the REM program was implemented from 2012 to 2017 with funding from BMZ (EUR 16 million) and BMUB (EUR 9 million). A total of EUR 25 million of results-based payments were disbursed by the end of 2016 for mitigation of emissions from deforestation between 2011 and 2015.
At the end of 2017, contracts were signed for a new phase of the REM program, comprising EUR 10 million from Germany and GBP 17.84 million from the UK. Implementation of this program began at the end of 2017 and will continue as planned through 2022.
The signing of the brokerage agreement between Climagate Ltd and Von Bohlen & Halbach Cie ensures the placement of 30 million CO2 certificates of the ISA Carbon Program for the next two years. This step is instrumental in supporting forest and climate protection in Acre, Brazil, and represents a significant contribution in the fight against climate change.
For more information please contact:
219 KENSINGTON HIGH STREET
Von Bohlen & Halbach Cie, FZ LLC
Al Sohada Road
Al Hamra Industrial Zone
Ras Al Khaimah, UAE