EBRD, ACWA Power and Numerco partner to deliver carbon neutral Annual Meeting
ACWA Power recently partnered with the European Bank for Reconstruction and Development (EBRD), and Numerco, a company specialising in sourcing and supply chain optimisation, to offset the carbon footprint of the twenty-seventh EBRD Annual Meeting and Business Forum.
The EBRD started purchasing carbon credits to make its Annual Meeting carbon-neutral since 2013; in previous years, it made investments in energy efficiency to off-set emissions. The Bank is currently in the process of making its entire operations carbon-neutral.
This year, for the twenty-seventh Annual Meeting in Jordan, which for the first time took place in Southern and Eastern Mediterranean (SEMED) region, the EBRD has estimated 3,500 tonnes of carbon dioxide was generated by participants’ flights, energy consumption at the venue, and transportation. To offset its carbon footprint, the EBRD has purchased carbon credits from ACWA Power’s Khalladi Wind Farm in Morocco- a renewable energy project co- financed by the bank.
The 120 MW Khalladi wind power plant in Morocco is the first project in the country certified by the Gold Standard, a best practice standard to ensure projects that reduce carbons emissions also deliver on the dual mandate to foster sustainable development. Khalladi is also the first W+ certified project in Morocco, an innovative framework to quantify and monetize the social capital created by women, recognising and rewarding female contributions to a sustainable environment.
Commenting on the partnership, Paddy Padmanathan, President and CEO, ACWA Power said: “Our partnership with EBRD and Numerco is a reflection of how the private sector can effect meaningful change and create value for local communities and the environment as a whole by exploring carbon mitigation strategies. The Khalladi wind power plant supports the diversification of Morocco’s energy supply while supporting the local population in developing their renewable energy industry, contributing to job creation and socio-economic development in the Kingdom.”
Sir Suma Chakrabarti, EBRD President, said: “We are delighted to be purchasing high quality credits from a project financed by us. The Khalladi wind project is a first in many ways; we could not choose a more apt source of emission reductions to offset the emissions associated with our first annual meeting in the SEMED region than this ground-breaking private windfarm in Morocco.”
As one of the first private wind power projects in Morocco, the Khalladi Wind Farm contributes to the diversification of the energy mix in the country, and supports the national agenda to promote clean sources of energy with a targeted development of 2,000 MW of installed wind capacity by 2025.