Aera Group announces its financial results for 2023.
29 March 2024
Paris, March 29th, 2024 – Aera today published its audited financial results for the financial year ending December 31, 2023. Revenue for the fiscal year 2023 amounted to 24.8 million euros, an increase of 9% compared to financial year 2022. Net profit after tax amounted to 3.2 million euros.
2023 Highlights
– The Voluntary Carbon Market went through a difficult year in 2023. At the start of the year, the quality of voluntary carbon credits, particularly those generated from projects to avoid deforestation, was strongly questioned by the international press. This led to a drop in prices on one hand and a strengthening of the requirements of international standards which issue carbon credits on the other hand.
– Furthermore, with the rise in interest rates imposed by central banks around the world, making the cost of borrowing more expensive, economic activities have slowed down. Persistent geopolitical tensions have also fueled economic uncertainty and weakened the recovery. The prices of standard carbon credits remained very low throughout the year.
– Despite this unfavorable market context, Aera Group has made considerable efforts, both commercially and technically, which have resulted in the signing of significant long-term sales contracts. Deliveries will begin in 2024.Following the COP 28 in Dubai, Article 6.2 of the Paris Agreement is still awaiting agreements on key ongoing issues (the revocation of the corresponding adjustments and the integration of registers), while the implementation of Article 6.4 is further delayed with some hope that it will enter into force next year. It should be noted that several questions relating to methodologies and approaches to CO2 elimination remain unanswered.
