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Paris, 7 September 2009 - Crédit Agricole purchased carbon credits on 2 September 2009 to offset the emission of 7,100 tonnes of CO2. The purchase covers the entire irreducible energy consumption of Group facilities in the Paris metropolitan area in 2008.
The carbon certificates purchased in 2009 relate to two biomass power plants in Brazil. The plants' projects have been verified and certified by EcoAct, a company specialised in trading and selling carbon credits and a signatory to the ADEME Charter for voluntary carbon offsetting. The certificates, known as Verified Emission Reductions (VERs), are based on a methodology approved under the Clean Development Mechanism by the United Nations. The VERs relate to projects that reduce emissions of greenhouse gas (GHG) by more than would have occurred if they had not been undertaken. What is more, the resulting investments create jobs and generate income for local populations.
Crédit Agricole is actively pursuing its goal of offsetting C02 emissions and achieving a 15% cut in energy consumption at its Paris-area facilities by 2010. Already in 2008, the Group managed to reduce GHG emissions caused by its energy consumption by 7% year on year. And it is also preparing to reduce transport-related GHG emissions as part of its new business travelling plan.
These initiatives epitomise the Group's commitment - which it renewed by signing The Climate Principles in December 2008 - to fighting climate change.