Swiss Krono issues carbon credits on blockchain

1.5 mln tradeable carbon units have been issued in DAO IPCI system by fibreboard manufacturer OOO Swiss Krono operating in Russia. From 1 January 2013 to 30 June 2017 its reduction of GHG emissions made 1 491 861 tons of CO2, as evaluation by KPMG confirmed. The company's GHG emission reductions were achieved by replacing fossil fuels with biofuel (wood waste) within the company’s production facility in the town of Sharya (Kostroma Region, Russia).

The project was initially launched in 2001. From 2001 to 2006 the company started gradually reducing its use of fuel oil by installing two biofuel boilers as well as three external furnaces to burn timber dust. Wood waste processing was used to generate thermal energy at the Swiss Krono enterprise, in contrast to the pre-project situation when the waste had been dumped to landfills, and thermal energy had been mainly generated from diesel fuel.

The project not only cut down GHG emission produced by burning fossil fuels, but also reduced methane formation in the city landfills thanks to waste utilization within the manufacturing facility. These efforts correspond to the goals of Paris Climate Agreement that stands for reducing GHG emissions and keeping global warming below 2 degrees Celsius above the pre-industrial levels.

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