Mundo Verde Climate Leads Groundbreaking Transaction in the Global Voluntary Carbon Market

Deal reaffirms Mundo Verde Climate’s role as a leading global provider of carbon credits and helps to stimulate the voluntary market, which is set for a resurgence following COP28.

Geneva, Feb. 05, 2024 (GLOBE NEWSWIRE) — Mundo Verde Climate, a global player in climate finance and climate change risk management advisory, announced its pivotal role in one of the most significant transactions of 2023 within the global voluntary carbon market. The company, dedicated to forging a sustainable future for generations, continues to champion green technologies and nature-based solutions in the race to Net Zero.

In a significant stride towards achieving this goal, Mundo Verde Climate has entered into a strategic arrangement with Biotrend Enerji, the most prominent player in the Turkish integrated waste management, waste-to-energy and circular plastics market. This collaboration marks a milestone in the pursuit of mobilizing finance towards new climate change mitigation technologies.

Mundo Verde Climate took an instrumental role in developing the voluntary carbon units from Biotrend’s waste to energy activities through a certification and verification process under VERRA.  The transaction, covering over 2.4 million tons of CO2 in total, refers to voluntary carbon credits for release on the international market. Companies can acquire the credits to offset their emissions from unrelated activities.

The deal promises to impact the global voluntary carbon market substantially. Mundo Verde Climate, together with Biotrend, hopes that the initiative will provide much-needed carbon credits to satisfy demand in the voluntary offsetting market and inspire others to advance their projects and stimulate the market.

Reflecting on the efforts of governments at COP 28 to invigorate the global trade in voluntary carbon credits, Ms Gediz Kaya, Managing Partner at Mundo Verde Climate, expressed enthusiasm about the Biotrend arrangement, stating:

“According to Climate Policy Initiative, the amount of financing needed to be mobilized towards climate mitigation technologies by 2030 is $4.3 trillion annually and 21% of that finance is mobilized right now. So we need to take action and we need to decarbonize as fast as possible. This collaboration exemplifies our dedication to fostering international cooperation and collaboration of key industries in pricing carbon so that we can mobilize finance in the fight against climate change. By joining forces with Biotrend, we aim to catalyse transformative change and encourage companies in the energy sector, and other industries, to adopt a sustainable approach to managing their emissions.”

The COP28 summit in the United Arab Emirates discussed a number of important factors related to standards and integrity around carbon crediting and recognized the important role of voluntary carbon markets in addressing climate change. Mundo Verde Climate underscores the urgency of global collaboration to address climate challenges and calls for renewed efforts, partnerships, and commitments to mobilize finance. This is vital for accelerating the transition to a low-carbon economy.

Biotrend made a related public disclosure about certified carbon crediting on 8 November 2023, in its 9-month financial statement.

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Leaders in Luxury: Automobili Pininfarina Recognised With Three International Awards

B95

B95 by Automobili Pininfarina

  • Automobili Pininfarina begins 2024 with multiple award wins for its design
  • PURA Vision awarded Silver in Conceptual Products / Automotive & Transport Product Design category at The International Design Awards
  • Automobili Pininfarina named ‘Luxury Electric Performance Car Manufacturer of the Year 2024’ by LUXlife Magazine
  • Battista Edizione Nino Farina crowned Best Electric Hypercar at Robb Report Monaco & Côte d’Azur Car of the Year 2024
  • Full suite of assets to support the news can be found here

CAMBIANO, Italy, Feb. 06, 2024 (GLOBE NEWSWIRE) — Automobili Pininfarina has kicked off 2024 with three award wins, as it continues to build on the success of a record-breaking previous year.

LUXlife Magazine named Automobili Pininfarina ‘Luxury Electric Performance Car Manufacturer of the Year 2024’ at its annual awards.

Celebrating the unparalleled achievements and exceptional creativity in the realm of luxury, LUXlife awards honour the leaders and pioneers who redefine excellence within the industry, setting higher standards of sophistication and elegance. Automobili Pininfarina was a winner within the ‘Leaders in Luxury’ category.

This was followed by another win for the PURA Vision design concept, which was awarded Silver in Conceptual Products / Automotive & Transport Product Design at the 2024 International Design Awards.

Battista Edizione Nino Farina

Battista Edizione Nino Farina by Automobili Pininfarina

PURA Vision represents the beginning of what promises to be a groundbreaking era for electric luxury vehicles and was penned by Chief Design Officer, Dave Amantea. It was unveiled at 2023 Monterey Car Week.

Dave Amantea, Chief Design Officer, commented: “Our PURA design philosophy is all about simplicity and timeless beauty, which is designed into every Automobili Pininfarina model. The elegant silhouette and dramatic proportions express this language on PURA Vision, envisioned here as a first-of-its-kind electric Luxury Utility Vehicle (e-LUV).”

The principles of the PURA philosophy, established by Automobili Pininfarina, transform the DNA of iconic models from Pininfarina SpA’s past to define the future, balancing inspiration from iconic classic cars with futuristic elements.

Inspired by classic proportions and exquisite detailing, PURA Vision presents an elegant silhouette with bold cab-rear proportions that combine timeless beauty with exquisite detailing to create a dynamic identity with unmistakable presence. Show-stopping features include its narrow glasshouse and tri-opening pillarless doors, which provide supreme access to its sophisticated cabin.

PURA Vision design concept

PURA Vision by Automobili Pininfarina

Most recently, the Automobili Pininfarina Battista Edizione Nino Farina was named Best Electric Hypercar at Robb Report Monaco & Côte d’Azur Car of the Year 2024. Introduced at the 2023 Goodwood Festival of Speed, it is a tribute to racing legend Nino Farina – nephew of company founder Battista ‘Pinin’ Farina and the first Formula One World Champion.

Each of the five unique examples features an exquisite detail that references a different milestone in Nino’s racing career. Finished in a bespoke Rosso Nino paint complemented by a special livery on the lower body, finished in Bianco Sestriere and Iconica Blu, the exterior design is completed by the Satin Gold 10-spoke forged aluminium Glorioso alloy wheels.

Press Contacts

Duncan Forrester
Chief Communications Officer
(M) +49 (0) 171 265 4094
d.forrester@automobili-pininfarina.com
Akira Shinonuma
Communications Manager
(M) +49 (0) 1511 0949270
a.shinonuma@automobili-pininfarina.com

FOR MORE INFORMATION, VISIT
https://automobili-pininfarina.com/media-hub

EDITOR’S NOTES

ABOUT AUTOMOBILI PININFARINA
Automobili Pininfarina is based in operational headquarters in Munich, Germany, with a team of experienced automotive executives from luxury and premium car brands. Designed, engineered and produced by hand in Italy, the Battista hyper GT and all future models will be sold in all major global markets under the brand name Pininfarina. The company aims to design experiences for the world’s foremost taste makers. Automobili Pininfarina GmbH is a 100 per cent Mahindra & Mahindra Ltd investment following the signing of a trademark licence agreement between Pininfarina S.p.A. and Mahindra & Mahindra Ltd. Pininfarina S.p.A. has an influential role in supporting design and production capacities based on its unique 94-year experience of producing many of the world’s most iconic cars.

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Institute for Energy Security charges ECG to deal with loses to shore up revenue


The Institute for Energy Security (IES) has asked the government to resource the Electricity Company of Ghana (ECG) effectively to increase revenue.

The Institute noted that resolving technical and commercial losses incurred by the Company would be ideal in raking in more revenue for the ECG’s operations than to introduce a tax handle.

The call follows government’s announcement of a 15 per cent Value Added Tax (VAT) on electricity consumption for residential customers exceeding the maximum consumption level for lifeline units.

Mr Andrew Agyapa Mercer, Deputy Energy Minister, has explained that the decision by government, though was a ‘difficult one’, was necessary to help clear off debts owed independent power producers.

In an interview with the Ghana News Agency, Nana Amoasi VII, Executive Director, IES said: ‘We must ensure that technical losses are brought down to the nearest minimum.’

‘They [ECG] should look for the smart metres that are capable to communicate right, able to detect theft, and put in
the right transformers and right cables in the distribution lines,’ Nana Amoasi VII said.

On the implementation of policies, he noted that over the past few years the government had made and passed polices and regulations for the power sector by ‘always putting the cart before the horse’.

That, he explained was not a good way to have the buy-in of the populace, therefore, called on the government to engage the citizenry and be transparent with all stakeholders, and be receptive to alternative views to make the energy sector robust.

‘It will be a smart thing for government to reverse this decision because it’s not going to help the sector, it is counter-productive,’ the IES Executive Director said.

Unions, including the Trades Union Congress (TUC) and the Ghana Union of Traders Association (GUTA) have all opposed the implementation of the 15 per cent VAT on electricity, citing its adverse impact on the economy.

‘GUTA firmly believes that the introduction of these additional costs will burden businesses, e
xacerbating the already high cost of doing business in the country,’ said, Dr Joseph Obeng, President, GUTA.

Speaking on a local radio station, Mr Joshua Ansah, Deputy Secretary-General, TUC, said the VAT on electricity would exacerbate the socio-economic hardships of Ghanaians.

‘The government has not informed us, neither have we met with them to officially tell us their intention to withdraw the tax. We only heard it on social media, and trust me, we will not rely on social media to make decisions,’ he said.

He said the Union was still preparing to embark on its intended demonstration till it received official assurance form government on the withdrawal of the tax.

Source: Ghana News Agency

IMF advises Ghana to stick to US$3bn loan programme implementation plan


The International Monetary Fund (IMF) has asked Ghana to follow through with the implementation of the US$3 billion loan support programme.

‘It is important that Ghana sticks the course and see the programme being implemented over the next three years,’ said Mr Abebe Aemro Selassie, African Department Director, IMF.

‘What I can say is that going forward, it will be important that Ghana continues to implement the programme that they have developed as envisaged. That is critical,’ Mr Selassie said.

He said this during a media briefing on Sub-Saharan Africa’s economic outlook, and the Fund’s engagement with various countries.

The Fund encouraged Ghanaian authorities, at the end of the first review Extended Credit Facility (ECF) arrangement last month to among others, improve tax administration.

The government has since announced the implementation of a 15 per cent Value Added Tax (VAT) on electricity consumption and a GHS100 annual emission levy for petrol and diesel car owners, with agitations from labour
and trade unions.

Assessing the state of the implementation of the country’s Post COVID-19 Programme for Economic Growth (PC-PEG), he said, ‘Ghana’s programme is being implemented effectively.’

‘We just went to the Board with the first programme review following, of course, the policies that the government has been putting in place to address the huge imbalances Ghana was facing through last year,’ he stated.

The IMF African Department Director stated that such steps had led to official creditors signalling that they would provide debt relief, consistent with what Ghana needed.

‘These programmes are designed to be implemented over three, four years. So, we look forward to continuing to support Ghana, consistent with programme implementation,’ he said.

So far, Ghana has received US$1.2bn of the US$3bn from the IMF, having completed its first review of the programme, leading to the disbursement of a second tranche of US$600m to the country in January 2024.

The government has pledged that it would implemen
t strong, and ambitious structural reforms in the areas of tax policy, public financial management, financial, energy and cocoa sectors to support fiscal consolidation and growth agenda.

Source: Ghana News Agency

Dapaah stolen cash: High Court adjourns case to March 8


An Accra High Court has adjourned to March 8, 2024, the case of seven persons being held over loss of various sums of money belonging to Madam Cecilia Abena Dapaah, a former Sanitation and Water Resources Minister, at her residence in Accra.

The court was to commence the Case Management Conference (CMC) today.

However, when the case was called, both defense counsel and the prosecution were absent hence the adjournment.

‘In the absence of both defense and prosecution, the matter is adjourned to March 8, 2024,’ the court, presided over Mrs. Justice Marie-Louise Simmons, said.

The defense counsel and the prosecution arrived in court soon after the adjournment.

Lawyer Abdul Basit Adams, counsel for the fifth accused person, informed the court about challenges with some of the sureties presented.

‘…We have fulfilled our part of the bail and same has been cleared by the registrars but the investigator said one of the sureties is a professional bailer and so he was not going to inspect it…’

The court said it
would tackle the challenge at the next adjourned date.

The accused persons are Patience Botwe, 18-year-old hairdresser and a former house help, Christiana Achab, a trader, Job Pomary and Malik Dauda, unemployed, Sarah Agyei, a former housekeeper, now unemployed, Benjamin Sowa, a plumber and Yahaya Sumaila.

They are being held for allegedly stealing one million dollars, 300,000 Euros, jewelry, among others.

All the accused persons are facing 31 counts of conspiracy to steal, stealing, dishonestly receiving and money laundering.

They have denied the charges, and the court has admitted them to bail in a total sum of GHC5,250,000.

Source: Ghana News Agency

Symposium held to mark 150th anniversary of Sagrenti War


A symposium to commemorate 150 years of British invasion and brutality on the Asante kingdom, has been held at the Kwame Nkrumah University of Science and Technology (KNUST).

It formed part of activities marking the silver jubilee celebrations of Otumfuo Osei Tutu II, the 16th occupant of the golden stool.

The Sagrenti War, which was fought in 1874, between soldiers of the British colonialist under the command of Sir Garnet Woseley, and the Asantes, saw the burning of the palace of the then king of the Asante kingdom, Kofi Karikari, and the looting of many priceless objects, regalia, gold ornaments and other artefacts from the palace.

The war was occasioned by three major factors – namely, colonial competition, control over trade routes as well as ethnic and religious tension at the time.

The symposium was attended by Ministers of State, Members of Parliament, traditional leaders, religious leaders, members of the academia and historians, among others.

Professor Thomas C. McCaskie, Professor of Asante Hi
story at the Center of West African Studies, Birmingham University, in the United Kingdom, who traced the history of the war, said 150 years ago, the British forces under the command of Sir Garnet Woseley, entered Kumasi, when the king was absent, looted the palace of priceless regalia and set it ablaze.

He said though the Asantes and the British had fought many wars over the 19th century with each side winning victories, the Sagrenti War, took a different turn due to the superior warfare carried by the British because of the industrial revolution, which was taken place in Europe at the time.

The occasion was also used to launch a book on Asante history, written by Sir Osei Agyeman Prempeh II, the 14th occupant of the golden stool in 1939 and finally scripted in 1949.

Already, some of the looted objects have been returned from the American museum, while others from the British museum are expected to arrive in the Manhyia palace on Thursday February 08, 2024.

The returned artefacts would be presented to th
e Asantehene, Otumfuo Osei Tutu, during the ‘Kuntunkuni’ durbar of chiefs and people of Asanteman at the Manhyia palace, on Thursday February 08, 2024, to mark the 150th anniversary of the Sagrenti War.

Prof. McCaskie used the occasion to urge Ashanti leaders to continue to pursue further for the restoration and repatriation of all the looted treasures of the Asante Kingdom.

Source: Ghana News Agency