LATAM partners with SCX to launch a corporate air travel carbon offsetting programme in Latin America
Fri 16 Jan 2015 – Latin American airline group LATAM has joined forces with SCX, the first private climate stock exchange in the Southern Hemisphere, to launch a programme dedicated to offsetting carbon emissions from corporate air travel. Commitments to reduce emissions from the 10 companies that have initially joined the programme, called Neutravel, account for over 17,000 tons of CO2 and in its first year, it is aiming to reach 50,000 tons – equivalent to the carbon captured in one year by planting more than 6 million native trees. Partner companies will neutralise emissions through investments in certified emission compensation projects in the region, together with accredited in-house reductions.
SCX says it can offer a platform for measuring and verifying emissions from any business air travel on any global airline, while LATAM will on request provide companies that are part of the programme specific emission factor information of their business travel flights to support the measurement of their carbon footprint.
The projects covered by Neutravel include nature conservation initiatives – such as the Amazon forest in Peru, the Valdivian Coastal Reserve in Chile and Choco-Darien in Colombia – and non-conventional renewable energy projects in Chile, including the Hornitos Center and Nueva Aldea.
The partners say the programme, which has been launched initially in Chile before it is extended to other countries in the region, has been designed in accordance with the most rigorous criteria and methodologies for measuring greenhouse gas emissions and complies with IATA recommendations.
SCX, the Santiago Climate Exchange, is a private organisation formed in 2011 and its activities include the creation of a marketplace for transacting CO2 emission reduction certificates, administration of a carbon-neutral certification system and advising countries and international organisations on the implementation of public policies that contribute to reducing emissions “without negatively affecting their economic competitiveness”.
“Thanks to this alliance and the strength and experience that SCX and LATAM Airlines Group brings to this programme, we will advance this initiative and provide a concrete solution to a real issue faced by companies, generating a positive impact on the environment and communities,” commented Juan Andrés Camus, Chairman of SCX.
Neutravel, which is contactable at email@example.com, is open to any public or private organisation wishing to neutralise the carbon emissions of its flights.