SCB Group, the low carbon commodity broker, has announced it has reached more than 500mln tonnes of CO2 abated.
SCB’s CO2 emissions abatement calculations, reviewed and assured annually by auditing giant PricewaterhouseCoopers (PwC), include all brokerage transactions in the biodiesel, ethanol and carbon markets, as well as matched principal transactions of renewable energy certificates and Voluntary Carbon offsets.
The firm’s transactions in biofuels decrease the reliance on fossil fuels and thus increase energy security, improve air quality and the environment, SCB said. With its carbon transactions, it helps fund projects focusing on reforestation, renewable energy, waste and water management and carbon-storing, it added.
“We are proud to have reached this abatement milestone which equates to more than four million acres of forests preserved. As of today, we are halfway towards our goal of 1bn metric tonnes of CO2 abated by 2030,” declared SCB’s chief executive officer Kevin McGeeney.