Phnom Penh, Cambodia, February 24, 2020 – Nexus for Development is pleased to announce the extension of its collaboration with Veolia Environment until 2023 to support their initiative to offer carbon neutral services to their clients in France, by voluntarily offsetting their carbon emissions for the period 2019-2023.
Through the purchase of Hydrologic carbon credits, Veolia Environment reduces its environmental impact, yet contributes to provide access to clean water to communities throughout Cambodia.
Hydrologic supports the local production and distribution of affordable water purifier technology to local communities. Purifiers improve public health, reduce environmental impacts, and stimulate local economic activity.
Since its formation in 2001, Hydrologic has sold over 600,000 purifiers and is preventing 130,000 tonnes of CO2e emissions from entering the atmosphere every year by shifting customers away from using wood or charcoal and opting for another water treatment method.
Nexus for Development has been supporting Hydrologic since 2016 to leverage the carbon markets, which provide an additional source of funding to scale the company’s impact. While the funds received by the project are payment for its environmental outcomes, it also benefits the development goals.
By purchasing these carbon credits, Veolia Environment will enable Hydrologic to continue researching and developing purifier technology and train local producers and distributors, further scaling up the project’s impacts. Alongside reducing household air pollution, preventing deforestation is a crucial challenge in Cambodia where 2.17Mha of tree cover were lost from 2001 to 2018, equivalent to a 25% decrease in tree cover since 2000, and 914Mt of CO₂ emissions.
The verified and certified emission reductions from Hydrologic are under the Gold Standard, a rigorous global voluntary standard for carbon offset projects.