Press Releases / News Updates
Roxol Bionergy Follow-Up
WORLD BANK, ROXOL BIONERGY SIGN CARBON FINANCE DEAL. The World Bank will purchase at least US$3.2 million worth of carbon emission reduction credits from jan22_02RoxolBioenergy Corporation, the bioethanol unit of listed sugar group Roxas Holdings, Inc. (RHI).
The World Bank and Roxol recently signed an Emission Reductions Purchase Agreement (ERPA) that will avoid air and water pollution, mitigate the impact of climate change and help address poverty in La Carlota City, Negros Occidental, where Roxol’s ethanol plant is located.
Under the ERPA, which has a crediting period of 10 years, the World Bank will purchase the carbon credits coming from the operation of Roxol Bioenergy’s wastewater treatment facility and the methane gas recovery system of its ethanol plant.