During the XII Scientific and Technical Committee of the Peugeot and the ONF (French National Forestry Service) carbon sink project, taking place at the University of Brasilia from November 2nd to November 4th bringing together dozens of Brazilian and French political, scientific, and academic institutions; Peugeot and the ONF announce the successful launch of the sale of “carbon credits” generated by the project. This operation should assure additional financing for the project of more than 1,000,000 €.

In line with the spirit of the project and the cooperation contract signed between Peugeot and the ONF the capital generated corresponds to a value of 110,000 tons of atmospheric CO2 extracted by the reforestation project developed in the Cotriguaçu region, in the north-west state of Mato-Grosso, within the legal confines of the Amazon, will be completely reinvested for the ecological, scientific et socio-economic benefit of the project initiated in 1998 and programmed until 2038.

The carbon credits have been sold following the VCS (Verified Carbon Standard) protocol methodology in line with international rules and regulations. The certification of these carbon credits are linked to the achievements of the project’s carbon extraction which were carried out by two independent audits, Ernst&Young and TUV-SUD. The attainment of this label of quality, from recognized and independent observers, has allowed us to show the importance of the project and its strict level of scientific quality control.

The Peugeot-ONF carbon sink forestry project has become the number one forestation project in Brazil through the generation of certified carbon credits following the VCS protocol and number two on a South American continental scale, attributing a new level of consistent dynamism and innovation to the project.

Marcel Bursztyn, President of the Peugeot-ONF Scientific Carbon Sink project and a professor of economics and politics at the Centre of Sustainable Development at the University of Brasilia has declared: “The generation of carbon credits by the project is a big satisfaction for the scientific council. It constitutes an important step in the dynamic sustainable and autonomous development of the project”.

Jean François Dhôte, Manager of the Research Department at the ONF and Marc Bocqué, Project Manager of the carbon sink forestry project at Peugeot have declared : “ Thanks to this new advancement, the Peugeot-ONF carbon sink forestry project begins this new decade under optimal conditions, with a long term commitment for the mutual benefit of all parties concerned”.

The Peugeot-ONF carbon sink forestry project in the Amazon has undergone a new phase of development following the signature, with the state of Mato Grosso in November of 2009, of an agreement to establish a Private Reservation of Natural Heritage including 1,800 hectares of high level biodiversity.