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Brazilian Multinational Aperam BioEnergia Signs Groundbreaking Contract With Canadian Invert Inc For Carbon Removal Sales With Biochar
Reducing emissions will not be enough to limit global warming to 1.5ºC, and the world is turning to new CO2 removal technologies. To help the planet and assist companies in achieving their carbon reduction targets, Brazilian Aperam BioEnergia has signed a groundbreaking contract in Latin America with Canadian company Invert Inc for the sale of carbon removal credits using Biochar, a biomass charcoal that, when applied to the soil, retains carbon dioxide for hundreds of years!
Located in the Jequitinhonha Valley (MG), BioEnergia is a subsidiary of Aperam South America – which, in turn, is the first in the world in its segment to achieve carbon neutrality in scopes 1 and 2. This unit, BioEnergia, is dedicated to the cultivation of renewable forests and the production of charcoal used for the production of Aperam Green Steel at the plant in Timóteo (MG).
Aperam BioEnergia Confirmed a Removal of 1,122 Tons of CO2e With the Application of Biochar in the Soil
The deal completed by Aperam BioEnergia is the first by a Brazilian company in this new segment of the carbon credit market, where the quantity of greenhouse gases effectively removed from the atmosphere, rather than just avoided emissions, is traded.
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Aperam BioEnergia confirmed a removal of 1,122 tons of CO2e with the application of Biochar in the company’s forests. The outlook is to reach 40,000 tons of Biochar per year in the near future, which would represent a potential value between R$ 38 million and R$ 40 million.
Sales of Certificates of CO2e Removal (CORCs) taken from the atmosphere were issued and traded on a platform dedicated to this market, with enormous growth potential. The CORC corresponding to the volume of 1,122 t of CO2e traded by BioEnergia was negotiated at a value of 112,000 euros.
Biochar Ensures Carbon Retention for Hundreds of Years, Preventing Its Release Into the Atmosphere.
Biochar is obtained from charcoal through the separation of specific size ranges. When applied to the soil, the material helps retain water and improve soil condition, aiding the availability of nutrients while also ensuring carbon retention for hundreds of years, preventing its release into the atmosphere.
Although essential for the world to achieve the goal of limiting global warming to 1.5°C this century, the strategies that have been adopted to zero out greenhouse gas emissions – such as increasing renewable energy, improving energy efficiency, and preventing deforestation – will not be sufficient to achieve it. In addition to reducing the emission of these pollutants, it is urgent to add effective carbon removal techniques from the atmosphere to this process, such as Biochar, which explains the great potential of this market.
It is estimated that the sector will generate US$ 2.1 billion worldwide in 2022, an amount that may seem small compared to the US$ 800 billion of all transactions involving CO2e on the planet. However, what stands out is the estimate that this US$ 2.1 billion figure will jump to US$ 7 billion in the next six years, with an average annual growth rate estimated at 20%. The projections are from Fortune Business Insights.
According to the Operations Director of Aperam BioEnergia, Edimar de Melo Cardoso, the volumes of CO2 removal from the atmosphere that the company can achieve with Biochar may be even more significant, as the trend is toward growth.
Rade Kovacevic, Co-CEO of Invert, stated that renewable energy sources like Biochar are extremely effective in sequestering carbon from the atmosphere. “We are looking forward to working closely with the Aperam BioEnergia team to provide credits and continue to combat climate change together in the long term.”
About Aperam South America
A Aperam South America is the first steelmaker in the world in its segment to achieve a neutral balance between emissions and carbon removals in its operations. The company is an integrated producer of flat stainless, electrical, and carbon steels. With a management based on the values of leadership, innovation, and agility, it consolidates itself as a leader in the Brazilian market in its segment. Its industrial plant, located in Timóteo-MG, has a total production capacity of 900,000 tons of liquid steel per year.
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