ClimateCare secures extremely rare carbon credits that are a perfect fit for Yacht Carbon Offset

Yacht Carbon Offset is delighted that experts at ClimateCare have helped them secure exclusive pre CDM Verified Emission Reduction (VER) credits from a renewable wind power project in the remote Galapagos Islands. One of the world’s most famous habitats and notoriously vulnerable, the Galapagos Island of San Cristobal has been impacted by fuel spills. This project helps to cuts the island’s diesel dependence, reducing the number of fuel deliveries and the risk of spills. This not only protects the environment and wildlife, but in turn safeguards income from tourism. In addition, the switch to a renewable energy source both cuts carbon emissions and supports the local economy by reducing energy costs.

 “Whilst we are best known for our broad range of highest quality energy efficiency and poverty alleviation projects – both CDM and VER – in sub Saharan Africa and the world’s Least Developed Countries, this is just one example of the extraordinary breadth of projects we have access to and our ability to source resonant project and credit opportunities for clients on a global basis” explains ClimateCare Director, Edward Hanrahan.

“ClimateCare operates globally, in both voluntary and compliance markets, with experience built over more than fifteen years. Clients tell us that they value our understanding of the market and our rigorous assessment of project risk. However, it is often our ability to align their sourcing requirements with the best possible project that sets us apart.”

Yacht Carbon Offset’s Managing Director Mark Robinson commented: “Our clients are particularly excited by projects with strong benefits for marine or island ecosystems, so we are delighted to have procured carbon credits from the Galapagos project.  It is one thing to be aware of the existence of the project itself, but quite another to be able to source credits efficiently and on acceptable commercial terms.  We appreciate the professionalism, market access and expertise of the ClimateCare team, since it is vital for us to rely on approved wholesale suppliers with excellent credentials to maintain our own service quality. Thanks to the team for a job well done.”

This project has replaced diesel generators with three wind turbines on the island of San Cristobal in the Galapagos Islands. The world famous islands are a flagship for biodiversity and famous for their endemic species, studied by Charles Darwin. Located in a UNESCO World Heritage Area, 85% of the island is part of the Galapagos National Park. Years of concern about the risk of fuel spills to its fragile ecosystem culminated in 2001, when the oil tanker “Jessica” ran aground in the harbour of San Cristobal, releasing significant amounts of oil. This devastating incident triggered an international initiative to reduce the areas dependence on diesel fuel and the provision of carbon finance helped enable this.

The Galapagos San Cristobal Wind Project, the first wind project in Ecuador, has been implemented by the Global Sustainable Electricity Partnership in close collaboration with the Ecuadorian Ministry of Energy and Mines, Elecgalapagos S.A. (the local electricity utility), and the United Nations Development Programme (UNDP). This project is so important because it not only cuts carbon emissions, but significantly lowers the risk of further oil spills by reducing the frequency of fuel deliveries to the island, protecting the environment and safeguarding much needed income from tourism. The ultimate goal of Ecuador and UNDP is to make the Galapagos Islands 100% free of petroleum imports by the year 2015.

Critically, for such a remote island, the opportunity to reduce dependence on shipped fuel also has economic benefits. During its first year, the project delivered 31% of the island’s annual electricity demand, with equivalent to 2,034 tonnes of CO2 avoided.

On the ground, the team made every effort to minimise the environmental impact of the project. For example they worked to protect endangered bird species, such as the Galapagos Petrel, by placing power cables underground, controlling invasive species and predators and conducting long-term monitoring of the bird’s well-being.

ClimateCare offers clients access to a wide range of VER and CER credits. To discuss your requirements contact the team on +44 (0) 1865 591000.