Haycarb Trades Carbon Credits under Kyoto Protocol
Haycarb became one of the first companies in Sri Lanka to successfully register and trade-in carbon credits by obtaining approval to receive the first block of payment for carbon credits traded under the Kyoto Protocol. The company traded over 4, 000 CER (Certified Emission Reduction) credits under the program, that was generated during the period 2009-10. The payment was approved after completion of the verification process in April last year. The credits were awarded to Haycarb’s Recogen plant situated in Badalgama, for environment friendly coconut shell charcoaling process which reduces harmful emissions and in turn generate electricity that is supplied to the national grid contributing towards reducing the fossil fuel driven power generation in the country.
The Kyoto Protocol is an international agreement which binds its participating members to reduce the greenhouse gas emissions. Linked to the United Nations Framework Convention on Climate Change (UNFCCC), it was adopted in Kyoto, Japan, on December 1997 and entered into force on February 2005.
The Clean Development Mechanism (CDM), one of the 3 mechanisms under Kyoto Protocol, allows developing countries not bound to reduce green-house gasses under the protocol, but have a commitment towards the protocol to implement projects that reduce or limit green-house gas emissions. These projects, after fulfilling the stringent verification process, earn Certified Emission Reduction (CER) credits, each equivalent to a ton of carbon dioxide reduced, which can be sold and set off against greenhouse gas reduction targets applied to developed countries under Kyoto protocol.
The Recogen project, designed and implemented in-house with local engineering and technical expertise, is a patented process for ‘Green Charcoaling’. The project allows Haycarb to significantly reduce its carbon footprint, allowing the company to claim that it produces the world’s most ‘green’ activated carbon having the lowest carbon footprint per ton of activated carbon produced.
Haycarb became one of the first companies in Sri Lanka to successfully register and trade-in carbon credits by obtaining approval to receive the first block of payment for carbon credits traded under the Kyoto Protocol. The company traded over 4, 000 CER (Certified Emission Reduction) credits under the program, that was generated during the period 2009-10. The payment was approved after completion of the verification process in April last year. The credits were awarded to Haycarb’s Recogen plant situated in Badalgama, for environment friendly coconut shell charcoaling process which reduces harmful emissions and in turn generate electricity that is supplied to the national grid contributing towards reducing the fossil fuel driven power generation in the country.
The Kyoto Protocol is an international agreement which binds its participating members to reduce the greenhouse gas emissions. Linked to the United Nations Framework Convention on Climate Change (UNFCCC), it was adopted in Kyoto, Japan, on December 1997 and entered into force on February 2005.
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Haycarb PLC is the world's leading manufacturer and marketer of coconut shell based activated carbon solutions. We have over 35 years of experience...
View on YoutubeHayleys is one of Sri Lanka's largest multinational business conglomerates with a history spanning 134 years. We drive a globally competitive busin...
View on YoutubeHayleys is one of Sri Lanka's largest multinational business conglomerates with a history spanning 134 years. We drive a globally competitive busin...
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