Specialty coffee group, Coffeeangel, along with clean-tech company, Bionua have agreed a landmark deal with the Dunsany Estate in Co. Meath, which will see it commit 5% of its profits over the next five years to buy biodiversity credits.
This is the first time a deal like this has been completed in Ireland, and only the second time across Europe.
The first year of the deal with Coffeeangel will represent the removal of a minimum of 80,000kg of carbon from the atmosphere at Dunsany Nature Reserve.
Bionua deploys its technology to monitor nature in real time, producing scientific data. It uses satellite imaging and ground-based sensors to quantify carbon sequestration and biodiversity.
The lands, under stewardship agreements, are dedicated to enhancing biodiversity and capturing carbon, using entirely natural processes, and adhering to a policy of causing no harm.
Founder of Bionua, William Butterly, said: “Bionua’s biodiversity credits offer companies not just a way of meeting their sustainability goals, but a way to visibly showcase their commitment to their customers, stakeholders and the general public.
“This is the first sale of credits from our partnership with Dunsany Nature Reserve, which has the capacity to produce hundreds of credits per month for organisations.”
The biodiversity credits produced by Bionua are to the International Organisation for Standardisation (ISO) 14064-2 standard, and are independently verified by a third party according to the company.
The credits offer an incentive to large landowners to generate income by preserving and enhancing the biodiversity of their lands.
CEO of Coffeeangel, Karl Purdy, said that they are always committed to sustainability and they are delighted to support biodiversity by helping to rewild the Dunsany Nature Reserve.
Lord Dunsany said:
“The goal was quickly achieved with species returning and increased biodiversity. I am very proud of this initiative and the model we have created with Bionua and Coffeeangel.
“I’m especially proud that it is an Irish collaboration. We are the green nation, and today, it feels a whole lot greener.”
The historic Dunsany Estate in Meath spans back to the 11th century and covers a vast area of 1,600ac.
Approximately 750ac have been dedicated to rewilding, forming the core of the Dunsany Nature Reserve.