GreenTech Romania enters the voluntary market for carbon certificates (VER) issuing 453,000 certificates resulting from PET waste recycling

Mihai Cristea 25/11/2020 | 17:50

Romanian company Green Tech, part of Green Group, is the first company in Europe validated by Gold Standard to issue CO2 certificates (VERs) resulting from PET waste recycling activity. Thus, Green Tech becomes the first company in Europe to issue 453.000 CO2 certificates, the equivalent of the tons of emissions saved by recycling PET waste over a period of 10 years. 

 

The validation of the project, named „Reducing CO emissions through PET recycling”, took 4 years, while rigurous measurements regarding emissions, energy and fuel consumptions were made throughout the entire PET recycling chain of operations performed  by GreenTech.

„GreenTech collects and recycles PET bottles, resulting new products made of 100% recycled content such as: PET strap, foodgrade rPET and recycled polyesteric staple fibers. Gold Standard validation is a recognition that obtaining new products at GreenTech from PET waste rather than using virgin input (petroleum based), 48% CO2 emission savings are achieved. The estimated annual average GHG emissions reduction is 45,380 tons of emissions per year, given as carbon credits that can be used for offsetting a company’s carbon footprint”, said Alina Genes, CEO of GreenTech.

A carbon certificate is a transactional form, representing one tone of carbon dioxide that has been saved, measured and validated by an independent organisation. Through the voluntary carbon transactions scheme, companies that aim to reduce or neutralize their carbon footprint can benefit from the CO2 savings of other companies, thus supporting and encouraging projects with good environmental performance. Carbon certificates can be purchased by companies or persons, directly from GreenTech or from the Gold Standard platform.

Many companies jumped voluntarily at the opportunity to align with the sustainable development direction proposed by the UN and the European Commission, making public commitments about reducing or neutralizing their carbon footprint. Next to implementing specific strategies to cut down emissions, carbon offseting through purchase of CO2 certificates from the voluntary market remains another tool that companies can use to achieve a zero carbon goal”, added Alina Genes.

The voluntary carbon market is recognized as being part of the global emissions market, but it works outside of the national green certificates scheme that resulted from the Kyoto protocol. There are only a few international organisations that can certify and give voluntary carbon credits and Gold Standard is one of the most reputable. It is supported by over 60 nonprofits and by the United Nations, and guarantees that the projects receiving such certificates bring a real contribution to environmental protection, that is also verifiable and measurable.

With funds obtained from selling certificates, GreenTech wants to grow its recycling capacity, as well as diversify the types of waste that can be processed. Currently, GreenTech has a total processing capacity of 150,000 tons/year of PET waste, being one of the largest PET recyclers in Europe.

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