Global Carbon Credit Leader Signs For NZ Projects

6 March 2008
GreenAir Ltd, an emerging leader in the international carbon credit market, has commenced signing forestry carbon credit projects in New Zealand in anticipation of new climate change legislation expected later this year.
Forestry has become the first sector to benefit from the emissions trading market that will be created by the legislation, with forest owners able to generate additional revenue by maintaining existing forestry or by developing new forestry projects.
GreenAir commercialises Kyoto compliant carbon credit projects internationally, and has other forestry projects in South America, Southeast Asia and the Pacific. It is also seeking to raise up to $100 million in the Australian capital markets through a share offering on the Australian Securities Exchange within the next 12 months.
Chairman and executive director Himanshu Dua said the proposed climate change legislation in New Zealand meant forest owners would now be able to access the benefits of the international carbon credit market created under The Kyoto Protocol.
“Forest owners will be able to generate additional revenue through sustainable forestry management and maximise their returns by selling carbon credits internationally,” Dua said.
“GreenAir will work with forest owners to ensure their projects are established in line with the new
legislation and will also provide the necessary funding and technical expertise to make their projects a reality.”
Mr Dua said the company’s New Zealand forestry projects would also help address land erosion through new planting, as well as providing farmers with a viable alternative to high emission farming practices.
GreenAir expects to commercialise at least three million tonnes of forestry carbon credits in New Zealand. The company’s initial pipeline of projects represents in excess of nine million tonnes a year of carbon credits at maturity, which compares with the current pool of 80 million tonnes of carbon credits globally that have been approved by the United Nations.

If you would like to submit a news item to be considered for inclusion on Inwood Today, please email the text to: Australia, Jim Bowden, and all other countries to info@inwoodmag.com

 

All news on this site is compiled by Inwood Today and may be subject to international copyright.
News Archives