Brazil's Minerva Foods buys I-RECs to become 100% green
Brazil's Copel Cutia Wind Complex in Rio Grande do Norte
Brazilian meat processing company Minerva Foods (BVMF:BEEF3) has bought over 396,000 International Renewable Energy Certificates (I-RECs) to have 100% of its operations supplied with renewable sources.
From this total, Minerva has bought wind energy certificates exclusive for its Brazilian operations, while for other South American markets it has purchased both wind and hydro energy certificates, the food company announced this week.
Minerva has committed to a 30% reduction in the greenhouse gas (GHG) emissions in scopes 1 and 2 by 2030 as well as to maintain a carbon-neutral energy mix, with 100% of its energy coming from renewable sources.
Overall, the company plans to invest up to BRL 1.5 billion (USD 295.1m/EUR 242.4m) in the coming years in actions to reduce emissions throughout its production chain.
I-RECs guarantee that the power supplied to the end-user comes from renewable sources. Each I-REC represents proof that 1 MWh of renewable energy has been produced, according to the country's I-REC platform REC Brazil.