London, England (PRWEB UK) 25 July 2012
As well as the milestone of a project approval (Hydropower in Peru) in June, Eco Global Markets also saw the PDD submission of their avoided deforestation carbon project in Manaus, Brazil. The City of London carbon management consultancy was understandably delighted by the news.
Robert O’Brien, the managing director of eco global markets, commented: “The Avoided Deforestation Project (Manaus) has seen both the VCS and CCBA project design documents submitted for validation. With the final field study taking place on the 18th of July, we are now entering the verification phase of the project with the next step being credit issuance.”
With the recent approval of the Peruvian hydropower project by the UNFCCC, it’s another great feather in the cap for the carbon trading company. O’Brien continued: “another significant step has been taken by one of the projects in our portfolio. The coming years are set to be very lucrative for Eco Global Markets and our clients as these projects reach fruition.”
The project comprises 15 privately owned parcels of land that equal 123,066 hectares of land in the Portel micro region. The main aim of the project is to avoid and prevent unplanned deforestation in native forests, thereby avoiding some 35,213,972.7 tCO2e over a period of 40 years, the lifetime of the project. The land will be managed as a private conservation reserve. Over the medium term the goal of the project is to regenerate the forest. The project will aim to address the underlying drivers of deforestation outside the project boundary.
This second milestone is another great step forward for Eco Global Markets, and for the environment.