The credits have been brokered by international carbon broker CantorCO2e, issued and registered on the Markit Environmental Registry and the VCS Project Database.

The emission reductions were generated from renewable biomass projects managed by the Social Carbon Company in eight Brazilian producing plants. A total of 206,178 tonnes of Verified Carbon Units (VCUs) have been verified, coming from fuel switching projects located in Southeast, North and Northeast Brazil.

According to the company, the projects reduce greenhouse gas emissions by substituting native wood and fossil fuel with a mix of renewable biomasses, such as sugar cane bagasse, renewable sawdust, acai pits, rice husk, and other residual biomass to generate thermal energy in industrial processes.

The projects have been developed with VCS 2007.1 standard associated with the Socialcarbon methodology. The projects and their related credits have been validated and verified by an independent third party, the DOE TUV NORD from Germany and monitoring is carried out by the developer team, the company said.

Robert Pulley, director of general services at the World Bank said: “We at the World Bank Group are working to reduce our environmental footprint by managing energy, water, waste and procurement practices.

“In 2006 we committed to offsetting those emissions that we cannot reduce ourselves, by investing in emission reduction credits generated by projects in developing countries. These Socialcarbon credits also meet our desire to provide social benefits to local communities.”

The Social Carbon Company provides carbon management services to project developers in the Verified Emission Reduction (VER) market and applies Socialcarbon methodology to implement carbon emission reduction projects in partnership with project developers.