update ! 2023 Measurement, Reporting TORONTO, ON / ACCESSWIRE / August 29, 2024 / Sparta Group (TSX.V:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") has announced the completion of the 2023 Measurement, Reporting, and Verification process at its E-waste processing facility, ERS International, revealing some significant environmental benefits.
Measurement, Reporting, and Verification or MVR is a multi-step process to measure the amount of greenhouse gas emissions (GHG) reduced by a specific activity over a specific period. In the case of Sparta's ERS International, the activity is reducing emissions through the recycling of electronic waste in 2023. The e-waste processing efforts at ERS generated carbon credits equivalent to 600,883,859 smartphones being charged, 10,031,102 pounds of coal being burned, or 894,106 gallons of diesel being used.
The MVR process is key to ERS being able to convert its recycling into carbon credits with monetary value. A third party verifies the GHG report so that carbon credits can be issued. Several companies are now part of the carbon credit program at ERS, having their electronics recycled and thus having quick access to generated GHG credits. The current national price of carbon is $80.00 per tonne. That price will jump to $170.00 by 2030.
"We're proud to partner with companies across various industries that share our commitment to sustainability, preserving natural resources, and reducing carbon footprints. ERS International is uniquely positioned as one of the few e-waste recyclers globally that can generate verified carbon credits from e-waste processing," said ERS Director of Global Business Development, Joseph Cimorelli.
Sparta does not encourage the purchasing of carbon credits as an easy way to reduce carbon footprint, but they do want to be able to help those who have taken serious steps to reduce emissions but can't quite reach their carbon reduction goals.
"At ERS we are thrilled to be working with companies that are serious about reaching their emission reductions goals and have a genuine interest in protecting the environment. While providing verified carbon credits is a revenue tool for us, it also allows us to be part of the growing movement towards creating a cleaner world," said Sparta President, Tony Peticca.