Vancouver, British Columbia, October 25, 2022 – Today, Vida Carbon Corp (“Vida Carbon” or the “Company“) announces that it has been accepted as a member of the International Emissions Trading Association (“IETA”), the world leader in market-based climate solutions. Membership in IETA recognizes Vida Carbon as a reputable carbon credit investment firm as the Company continues to invest in high-quality carbon credit projects globally.
Created in 1999, IETA established an international framework for trading in greenhouse gas emission reductions. IETA’s current members include leading international corporations from every stage of the carbon trading cycle. The association is a leader in promoting market-based solutions to climate change and provides credible information on greenhouse gas emissions trading and market activity.
“With over 20 years of experience in the emissions trading space, IETA’s mission to leverage market forces to reduce greenhouse gas emissions is deeply aligned with Vida Carbon’s vision of bringing greater acceptance and transparency to the carbon markets,” says Veljko Brcic, CEO at Vida Carbon. “Vida Carbon now joins fellow IETA members who include some of the most respected and recognizable organizations on the planet, many of whom are leaders in the fight against climate change.”
Recently, Vida Carbon announced an $8.5M emission reduction purchase agreement with Core CarbonX Solutions Pvt Ltd, an established climate and sustainability consulting firm based in India. Vida Carbon’s investment will generate carbon offset credits by improving rice farmers’ cultivation and water management practices in the Indian state of Telangana. The four-phase project will impact over 100,000 hectares of rice fields in Telangana and generate 5.4 million carbon credits through project activities. Participating farmers will receive a percentage of revenue from the sale of carbon credits, making them direct participants in the project’s success.
The International Emissions Trading Association (IETA) is a non-profit business organization created in June 1999 to establish a functional international framework for trading in greenhouse gas emission reductions. Membership includes leading international companies from across the carbon trading cycle. IETA members seek to develop an emissions trading regime that results in real and verifiable greenhouse gas emission reductions while balancing economic efficiency with environmental integrity and social equity
About Vida Carbon Corp.
Vida Carbon is a leading carbon credit investment company focused on financing high quality sustainable carbon credit projects globally. Vida Carbon is well capitalized and growing rapidly. Vida’s portfolio of carbon credit generating assets are diversified across jurisdiction and project type and are operated by highly experienced and reputable project developers. The Company’s mission is to build long-term, mutually beneficial relationships with carbon credit operators and developers in exchange for exposure to the future value created through the production of carbon credits. All projects supported by Vida Carbon bring economic and social benefits to the regions in which they operate.
Forward-Looking and Cautionary Statements
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “will” or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, statements concerning: statements and figures with respect to the estimation of future carbon credit generation from the projects; and the Company’s strategy going forward and the timing thereof. The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.