Duke University is the first institution to reap the long-term benefits of ClimeCo America Corporation's Carbon Neutral Commodity Investment Package
Duke University (Duke) has accepted delivery of Climate Reserve Tonnes (CRTs) from a ClimeCo America Corporation (ClimeCo) fertilizer manufacturing nitrous oxide (N2O) abatement project. The purchase of carbon offsets is a significant step toward Duke's work to reduce and offset its annual greenhouse gas emissions. Developed under the guidelines of the American College & University Presidents' Climate Commitment (ACUPCC), a climate action plan prepared by the Duke University Campus Sustainability Committee (CSC) outlines a comprehensive strategy to offset Duke's campus greenhouse gas footprint beginning in 2024.
Duke's acceptance of carbon credits from ClimeCo marks the University's first purchase of offsets from a third party developer. "This first agreement is teaching us how these transactions will work," said Tatjana Vujic, director of the Duke Carbon Offsets Initiative. "Nitrous oxide is about 310 times more powerful than carbon dioxide as a greenhouse gas," she added.
Duke University is the first educational institution to benefit from ClimeCo's carbon neutral commodity investment service menu, that until recently was employed primarily by ClimeCo's utility, industrial and financial investment clients.
Although ClimeCo is most commonly recognized for its successful N2O tertiary and secondary abatement system projects, ClimeCo is also well regarded by its clientele and stakeholders as a seasoned commodity purchaser, broker, investor and market analyst. ClimeCo offers a platform of strategically positioned skills and services to enable organizations to meet their carbon neutrality commitments as they contribute to the greening of the agricultural footprint. Services include educational components to equip clients with the technical and financial tools necessary to navigate the carbon market and procure both voluntary and compliance offsets.
ClimeCo plans to invest proceeds from Duke's voluntary market participation to fund its long term goal of developing carbon offset opportunities within the agricultural sector. The terms of the Duke purchase are not being disclosed. PR Newswire (http://s.tt/1hApq)
