A new path towards sustainability
FEDA, together with its subsidiaries, has initiated an ambitious project to offset its direct greenhouse gas emissions. The measure has been implemented based on the emissions calculated for 2023, with the aim of continuing to offset those for 2024 as soon as the data is available.
Strategies for decarbonization
The initiative is part of a broader decarbonization plan that FEDA has presented in its 2024 balance sheet, with an eye on achieving total carbon neutrality by 2030. Among the highlighted strategies is the intention to promote electricity from renewable sources in both imports and local production.
Emissions compensation: the mechanism
For emissions that cannot be eliminated, technically identified as ‘scope 1’, FEDA has decided to compensate them through the purchase of carbon credits. These credits are instruments that finance projects aimed at reducing emissions or acting as sinks for greenhouse gases.
Local and international investments
The first investment to offset 6,980 tons of CO₂ eq for the 2023 financial year was made last December, prioritizing national projects. FEDA acquired credits from two Andorran projects: one dedicated to reducing vehicle emissions and the other to promoting electric vehicles.
Investment expansion
To complete the compensation needs, a public tender has been awarded that has allowed the acquisition of credits from a wind farm project in Turkey, which will provide a significant reduction of 6,968 tons of emissions, while providing access to clean energy to the local population.
Benefits beyond sustainability
This project not only contributes to the fight against climate change, but also promotes socio-economic development, creating jobs during the construction and operation phases. In addition, it fosters technical knowledge in the installation of wind turbines, thus boosting local industry.
Commitment to the SDGs
As stated by Nerea Moreno, Director of Sustainability at FEDA, this project impacts four United Nations Sustainable Development Goals (SDGs), reinforcing the organization’s commitment to sustainability and responsible growth.
