Following the guidelines and requirements of the Carbon Neutrality pledge, TCX purchased carbon credits from offsetting projects to compensate for the emissions from 2019.
Ruurd Brouwer, CEO of TCX: “Becoming a carbon-neutral company is aligned not only with our own values but with those of all our investors. It reflects where we believe the world needs to move towards. The decision to support the Isangi Forest Conservation Project in the DRC further reflects our commitment to increase out impact in Sub-Saharan Africa.”
The total greenhouse gas (GHG) footprint of TCX’s operations and liquidity portfolio for the calendar year 2019 was 386 metric tons of carbon dioxide equivalent (‘tCO2e’). The main source of GHG emissions was business travel, with emissions amounting to 270 tCO2e, representing 70% of the Fund’s total. The second largest contributor is the carbon footprint of TCX’s liquidity portfolio, which amounted to approximately 89 tCO2e (23%) during 2019. TCX’s full GHG Accounting Report, produced by South Pole, can be found here.
To offset its emissions, TCX supports the Isangi Forest Conservation project in the Democratic Republic of the Congo by acquiring 386 VCS-CCBS certificates. The project conserves the habitat of diverse local species, thus preserving ecosystem biodiversity. It also alleviates poverty by promoting sustainable economic development, improves public health, funds new local education programs and helps maintain traditional cultural and spiritual identities while promoting understanding of biodiversity in the project zone and the wider Congo Basin.