- The compensation was made by acquiring CER-type carbon credits (Certified Emission Reduction)
- This geothermal energy production project has been chosen for its significant environmental and social benefits
A geothermal energy production project in the Department of Escuintla (south-central Guatemala) has been chosen by Red Eléctrica de España to offset carbon dioxide (CO2) emitted during the organisation and staging of its Annual General Meeting held on 18 April, 2013.
The Company, which has chosen this project for its significant environmental and social benefits, made this offset of emissions possible by purchasing CER-type carbon credits (Certified Emission Reduction), accredited by the United Nations Framework Convention on Climate Change (UNFCCC).
This electricity generation project from geothermal energy reduces emissions of greenhouse gases (GHG) from Guatemala and decreases the energy dependence of this Central American country on meteorological factors or in the price of fossil fuels.
In addition to improving air quality, this project contributes to the generation of local employment with the creation of 20 permanent jobs, while, in order to minimise the risk of flooding in the area, the project incorporates a reconstruction programme for roads and the planting of more than 5,000 trees to help stabilise the soil.
Red Eléctrica and the measurement of the carbon footprint
Red Eléctrica, as part of its commitment to fight against climate change, has for the first time measured the impact of the carbon footprint of both the organisation and staging of its Annual General Meeting, as part of the overall calculation of the emissions associated the Company's corporate events.
To do this, a bespoke methodology and measurement tool was developed based on the most internationally recognised standards: the Publicly Available Standard (PAS 2050) and the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard.
In 2013, the first year this measurement has been carried out during the processes associated with the organisation and staging of the Annual General Shareholders? Meeting event, the carbon footprint amounted to 14.71 tonnes of CO2 equivalent.
In this regard, the Company has set the target of reducing its emissions of future Annual General Shareholders' Meetings and other events, and continuing to offset those that are unavoidable.