Major milestone for climate change, sustainable development, and community engagement project in Uruguay

Uruguay, Cerro Largo, 22 February 2024. LUMIN, a Forest Stewardship Council® (FSC®) certified sustainable forestry and wood products manufacturing company in Uruguay, has executed an agreement to sell 2.2 million carbon credits of multiple vintages from its La Pitanga Lumin-Eucapine Carbon Sequestration Project to Climate Impact Partners, a leading carbon finance organization, securing high-quality carbon removal credits for corporates with ambitious net-zero goals.

The transaction marks an important milestone in LUMIN’s regional growth strategy and in the company’s contributions to sustainable economic development in Uruguay, which includes investment in sustainable forest management, long-lived wood product manufacturing, environmental conservation, and community engagement.

The La Pitanga project, which includes the conservation of 2,150 hectares (ha) of native vegetation and tree planting across 17,000ha, has been successfully executed for more than 15 years and seeks to remove approximately 6 million tonnes of carbon dioxide equivalent (tCO2e) over its full lifecycle. The project is registered under Verra’s Verified Carbon Standard (VCS) and [in 2023] achieved certification under the Climate, Community and Biodiversity (CCB) standards, providing further assurance that the project is delivering tangible benefits for people, nature and climate.

Lumin (Uruply S.A.) is a signatory of the Women Empowerment Principles (WEPs) within the framework of the Win-Win program: Gender equality is good business, funded by the European Union Partnership Instrument (EU) and implemented by ONU Women in partnership with the International Labor Organization (ILO) to promote gender equality through the private sector.

Commenting on the importance of this project milestone, Alvaro Molinari, LUMIN CEO, said: “We have invested significant resources over the past 15 years to bring La Pitanga to fruition. Every aspect of our operations is driven by careful environmental stewardship and contributing to the sustainable development of Uruguayan communities. The FSC-certified, sustainably managed tree farms of the La Pitanga project also support the production of LUMIN-TRP (Tropical Replacement Panel), a sustainable alternative to appearance-grade plywood that we believe reduces pressure to harvest natural tropical forests. The agreement with Climate Impact Partners is the next step in our ambition to help meet global carbon targets.”

Regarding the importance of the project for local communities, Jose Yurramendi, Mayor of Cerro Largo said "The progress of this environmental conservation project in Cerro Largo is really exciting. It's a forward-thinking project that protects our climate and environment and highlights the skills of our local community. We're very proud of the role LUMIN is playing in these areas. Their dedication not only brings us pride but also puts Cerro Largo in a key position for sustainable investments, opening up new opportunities for growth and development."

Sheri Hickok, Climate Impact Partners CEO, added: “Regenerating nature is critical in our global fight against the climate crisis. High-quality projects such as this, which create new carbon sinks, whilst benefitting biodiversity and communities, are a fantastic example of just how powerful nature can be as a climate mitigation tool. Rapid progress towards global climate targets is vital and we need to use every single tool at our disposal, from protecting and restoring nature, to building low carbon infrastructure, to technical removal solutions, so that we can ensure a thriving future for all life on Earth.”



About LUMIN

LUMIN is a leader in sustainable forestry and forest products in Uruguay. With more than 25 years of experience, LUMIN manages 120,000 hectares of timberlands in Uruguay in the departments of Rivera, Tacuarembó, Cerro Largo and Treinta y Tres. LUMIN is dedicated to the sustainable production of plywood panels destined for international markets. LUMIN certifies the forest management of its plantations following the Forest Stewardship Council® standard, SGSCH-FM/COC-012049, (FSC-C162602) and has Chain of Custody certification, SGSCH-COC-006354 (FSC-C002169) to ensure our clients the responsible management of our products throughout the production chain, from forest to the final costumer. This certification scheme provides external and third-party credibility for the responsible management of our forests and products. If you want to know more about FSC®, visit www.fsc.org

For the forestlands dedicated to the commercial production of Eucalyptus wood products, the company has made significant investment in the development of LUMIN-TRP. LUMIN TRP is a hardwood plywood that helps to reduce the destruction of tropical forests by providing global markets with a sustainable and viable alternative. Eucalyptus Grandis used to manufacture LUMIN TRP matures at 16 years on average, when grown in the Uruguayan climate.

www.LUMIN.com

www.LUMIN-TRP.com



About Climate Impact Partners

Climate Impact Partners is a leader in developing and delivering high-quality, high-impact carbon market solutions for climate action. For more than 25 years, the company has worked with climate-leading businesses to support more than 600 carbon removal and reduction projects in 56 countries. With a focus on helping to transform the global economy, improve health and livelihoods and restore a thriving planet, Climate Impact Partners develops and delivers the highest quality carbon-financed projects. It creates and manages carbon credit and energy attribute certificate portfolios that enable its clients to offset emissions they can’t yet reduce, put a price on carbon to incentivize change, and meet ambitious climate goals. Climate Impact Partners builds on the expertise, integrity, and innovation of two companies that have led the voluntary carbon market – Natural Capital Partners and ClimateCare.

Learn more at www.climateimpact.com.