In Brazil, Globo and GOL Linhas Aéreas have signed a partnership to neutralize CO2 emissions in essential corporate travel. The measure was put into practice in September, when all trips by Globo employees, necessary for the performance of their duties, began to be offset by the sale of carbon credits applied to the preservation and reforestation of native forests and regenerative agriculture projects in the Amazon Forest region. The initiative is possible thanks to the union of both companies with Climatech Moss, for solutions in the fight against climate change. GOL already adopts the same system for people to neutralize their carbon footprint.
Since 2019, Globo claims to be zero carbon and maintains a strategy to absorb the carbon dioxide emitted by its activities. More recently, it publicly assumed the goal of reducing its emissions by 15% by 2026 and 30% by 2030, based on 2019, when total emissions were 20,595 tCO2e (tons of carbon equivalent). The reduction includes scopes 1, 2 and 3.
With this first partnership signed with GOL, Globo also establishes a total compensation initiative for corporate air travel. In 2019, the year before the travel restrictions due to the pandemic, more than 9,000 tons of CO2 were emitted into the atmosphere from trips made by Globo employees. The project expands the airline’s program that already allows individual passengers to neutralize their carbon footprint.
At the beginning of the year, Globo broadcast its first ten-year USD 400 million sustainability-linked bond linked to these environmental goals for the reduction of greenhouse gas emissions. The adoption of the best environmental practices in its operations is in line with the ESG commitments (Environmental, Social and Governance – in Portuguese, Environmental, Social and Governance) assumed by Globo, which comply with the 2030 Agenda, in accordance with the Goals of Sustainable Development (SDG) of the UN.
“For us, this is an important step, since all the necessary corporate trips carried out by GOL are already neutralized. Our commitment is not limited only to direct emissions, but also to indirect emissions, with the aim of influencing the entire value chain based on a low-carbon business model. This is one of the initiatives we are adopting to reduce our environmental impact, value and protect our biodiversity”, says Maurício Gonzalez, director of Globo’s Shared Services Center.
In addition, #MeuVooCompensa was created, a campaign aimed at passengers that, in June 2022, turned 1 year old. In 12 months, more than 7,000 tons of CO2 were offset by customers, equivalent to 1,745 hectares of preserved forests – or the same as 2,115 soccer fields of native nature on Brazilian soil kept intact.
#MeuVooCompensa also includes two 100% carbon neutral routes established by GOL last year: the first in Brazil, Recife-Fernando de Noronha-Recife, and the second, Congonhas-Bonito-Congonhas. In both cases, GOL and Moss assume the individual carbon compensation of all clients and crew present in these sections, giving them the certificate of compensation.
“The association between Globo and GOL is a pioneering and urgent initiative, which opens up new perspectives for sustainable corporate travel in the country. That it be an example and a motivation for other Brazilian companies to commit to the preservation of the environment”, says Renzo Mello, Director of Sales Channels at GOL.
How compensation is made
Compensation for necessary corporate travel made by Globo employees is done through MCO2, a green blockchain digital asset created by Moss. One MCO2 token is equal to one carbon credit, or one ton of carbon dioxide that is no longer emitted into the atmosphere.. carbon credits are internationally certified and the initiatives are in accordance with the UN protocols called REDD and REDD+ (Reducing Emissions from Deforestation and Forest Degradation).
The operation supports projects that work to reduce deforestation in the Amazon, preserve biodiversity and generate socioeconomic returns for local communities. “From now on, Globo and GOL become our allies in preserving the environment. Together, we are working on effective actions to combat deforestation in the Amazon and, at the same time, for the sustainable development of the region.“, said Luis Felipe Adaime, founder and CEO of Moss.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
It may interest you:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.