As part of its Sustainability Strategic Plan, Brown will eliminate 137,500 tons of greenhouse gases through the purchase of high-quality carbon offset credits from Tradewater.
CHICAGO, June 13, 2022 /PRNewswire-PRWeb/ -- Tradewater, LLC, a global environmental project development firm, today announced that it has added Brown University to its list of partners. As part of its ambitious net-zero emissions pledge, Brown will purchase 137,500 carbon offset credits from Tradewater.
Tradewater reduces greenhouse gases and generates carbon credits from the collection and destruction of potent refrigerant gases that would otherwise leak into the atmosphere, contributing to climate change and depleting the ozone layer. All credits will be issued by the American Carbon Registry and The Verra Registry. These leading independent carbon offset registries have set forth strict protocols to ensure the work is done credibly and responsibly. All project activities are also audited by independent third-party verifiers. Brown selected Tradewater's carbon offset credits through an intensive review process facilitated by global climate advisor CustomerFirst Renewables.
In March 2021, Brown University — under the leadership of the director of the Office of Sustainability and Brown's assistant provost for sustainability, who collectively oversee sustainable campus operations, education and research — developed and published the University's Sustainability Strategic Plan. The plan included a commitment to reduce campus greenhouse gas emissions by 75% by 2025 and to become net zero by 2040. Purchasing carbon offset credits from projects that permanently destroy overlooked sources of harmful greenhouse gases represents just one step on the path to reaching these targets.
"The University's overall goal is to cut out greenhouse gas emissions to net zero by 2040," said Jessica Berry, director of the Office of Sustainability. "Achieving this historic milestone requires a mix of climate solutions working in concert. Employing high-quality carbon offsets will help us meet our climate goals in the immediate term."
The refrigerant gases that Tradewater collects are called chlorofluorocarbons (CFCs). CFCs are among the most potent greenhouse gases ever developed, with some more than 10,900 times more potent than carbon dioxide. CFCs were banned from production under the Montreal Protocol but no treaties or regulations prevent their continued use in equipment, or require that they be collected and destroyed at the end of their useful life. Tradewater's projects work to solve this problem by employing staff members to identify, collect, and destroy these gases all over the world. Brown University's purchase enables Tradewater to expand its search to additional countries throughout South America, Africa, and Asia.
"Carbon offsets can be a useful component of an organization's climate strategy, but not all carbon offset products stand up to scrutiny," said Jaafar Rizvi of CFR. "It was important to us to carefully review Brown's options and recommend a credible product that aligns with the institute's sustainability and business goals. We are satisfied that the credits from Tradewater meet Brown's high standards for offsetting carbon emissions."
"At Tradewater, we believe that innovation and collaborative solutions are invaluable tools in the climate fight," said Gabriel Plotkin, COO of Tradewater. "Brown University has illustrated how private organizations can lead the way by utilizing voluntary carbon markets. With a staggering amount of these gases still in stockpiles around the world — and no mandate to destroy them — it will take this kind of committed, early leadership to make an impact."
Though the delivery of offset credits will happen over the next three years, Brown University's upfront purchase of credits will ensure that Tradewater is able to accelerate its collection efforts and make the greatest possible impact in the race to prevent catastrophic climate change.
Beyond the direct climate impact of this partnership, Tradewater looks forward to building awareness about the importance of collecting and destroying potent greenhouse gases and the role of carbon offset credits from projects like these as an impactful complement to larger emissions reductions efforts.
- Brown University Sustainability Strategic Plan
Tradewater is a mission-based company focused on the collection and destruction of greenhouse gases, particularly old refrigerants. This work results in independently verified, high quality carbon offset credits. Tradewater is headquartered in Chicago, Illinois and San Jose, Costa Rica, with operations around the world.
To date, Tradewater has collected and destroyed over 5.4 million metric tons of CO2e in the form of potent greenhouse gases, preventing them from being released into the atmosphere. Through partnerships like the one with Brown University, Tradewater is on a path to eliminating 3 million tons of CO2e annually.
About CustomerFirst Renewables
CustomerFirst Renewables (CFR) is a global climate adviser dedicated to helping clients navigate complexity and take ambitious steps on their climate journey. CFR provides deep market insight, analytical problem solving, and change management expertise so that clients can switch to renewable energy and make progress on other large-scale climate and water resiliency commitments with confidence and internal alignment.
Founded in 2010 as one of the first renewable energy advisory services firms in North America solely focused on large energy end-users, CFR has a long and proven track record advising leading brands and global organizations with distributed energy footprints. Clients turn to CFR at all stages of their journey, from strategy development to competitive procurement and implementation to performance management.
Taraneh Arhamsadr, Tradewater, 1 7143372065, [email protected]