CorpBanca neutralizes emissions from its 2011 – 2012 operations

In the first instance, they measured their carbon footprint for 2010, 7,954 tonCO2e, which were neutralized under the SCX Standard, through the purchase of carbon credits from the Chilean project Central Hidroeléctrica Foz de Chapecó.

For the year 2011-2012 they also measured the carbon footprint, corresponding to emissions related to Corpbanca’s operations (including its subsidiary Banco Condell). The measurement covers direct and indirect emissions. In the case of direct sources (controlled by the bank), emissions from air conditioning equipment, refrigerant gas replacement and mobile combustion were included; and for indirect emissions (sources not controlled by the bank), the following were considered: electricity consumption, production of main operating inputs, mains drinking water, printing paper, debit and credit cards, transportation of employees and workplace, transportation of valuables, transportation of waste, corporate travel, ATMs, among others.

The result of the measurement showed 9,622 tons emitted for 2011 and a total of 10,122 tons for 2012, totaling 19,744 tons of CO2. In this opportunity, Corpbanca has decided to neutralize its organization’s emissions for the years 2011 and 2013, under the SCX standard, using carbon credits from the Fóz do Chapecó hydroelectric project.

As part of the SCX standard, the footprint measurement was performed by Proyecte and verified by an independent third party – in this case, Deloitte – and with that result, SCX proceeds to the retirement of the carbon credits – whose reductions have been verified under the VCS | Verified Carbon Standard – and to the publication and retirement of the carbon credits from the international Markit registry.