LUMIN® completes sale of 2.2 million carbon credits to Climate Impact Partners

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

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.”