Paf advances climate goals with new project in Peru

As part of Paf’s environmental strategy, the operator annually measures its climate impact and invests in climate financing projects to offset emissions. This year, the focus is on a hydropower project in the Monzón district of Peru.

Committed to reducing its climate footprint, Paf aims to reach Net-Zero emissions by 2040. To achieve this, the company actively maps, measures, and reduces emissions from its own operations as well as throughout its value chain, including indirect emissions from suppliers and partners.

Daniela Johansson, Deputy CEO & CRO, said: “Since 2017, we have offset all our measured emissions each year through climate finance. Today, we measure over 95% of our emissions, fully aligned with the Science Based Targets initiative (SBTi), which has validated our Net-Zero goal.”

Climate financing, also known as climate offsetting, involves investing in certified projects worldwide that reduce or capture greenhouse gas emissions. These projects often support renewable energy, improve energy efficiency or fund reforestation efforts, particularly in developing countries.

Ludvig Winberg, Corporate Communication Manager, added: “Over the years, we have supported projects across various regions, mostly in countries lacking resources to invest in climate solutions, but also in places like Iceland, where innovative technology enables direct capture of carbon dioxide from the air.”

Regarding the current initiative, Paf is backing a hydropower project in Monzón with an installed capacity of 20.58 MW, situated along the Aucantagua River, a tributary of the Monzón River.

Carlos Mendez

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