Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Sales Mandate for 2.5 Million NZ Carbon Credits

CO2 New Zealand Secures the Sales Mandate for 2.5 Million NZ Carbon Credits

WELLINGTON, Dec. 23 / Medianet International-AsiaNet/ --

Australian environmental services company CO2 Group Limited, (ASX:COZ) today announced that its overseas joint venture CO2 New Zealand Limited Partnership now has finalised commercial mandates with New Zealand entities for the sale of over 2.5 million New Zealand Units (NZUs).

Mr Andrew Grant, CEO of CO2 Group, said its joint venture in New Zealand is progressing ahead of expectations.

"The NZUs under management now are significant and further updates will be provided as the management of the NZU portfolio grows. Other business areas are also progressing well".

Prices for spot NZUs throughout 2010 have fluctuated between NZ$17 and NZ$21 valuing this portfolio update between NZ$42.5 million and NZ$52.5 million.

CO2 New Zealand LP is a commercial partnership between the Maori commercial development company Tukia Group, CO2 Group and investment and advisory firm Carbon & Energy Partners.

CO2 New Zealand provides tailored carbon management solutions for organisations liable under the New Zealand Emissions Trading Scheme, Investors and Land Owners.

CO2 New Zealand operates as a developer, manager, trader and risk manager of physical and financial carbon assets and is quickly becoming the premier carbon reforestation company in New Zealand.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Gita Hits NZ: 'It Was Literally Like A Wall Of Water'

"We were looking at the river at 80 cubic metres at about 4pm thinking it was amazing that we'd dodged the bullet ... an hour and a half later it was 600 cubic metres, and it just kept going up to 900 from there." More>>

ALSO:

America's Cup: Another Day, Another Cup Village Plan

A fourth option modelling what an America's Cup Village in Auckland might look like has arrived today as a planning deadline nears with no agreement in sight.More>>

Closing Or Selling Regionals: Fairfax Starts NZ Endgame

Fairfax Media Group will close or sell 35 percent of its New Zealand print titles as the Australian group pursues a digital strategy for the kiwi unit, now rebranded Stuff. More>>

Fletcher Building: Norris Steps Down As Chair After New $486M Loss Provision

Ralph Norris will step down as chairman of Fletcher Building after the company took a further $486 million provision for project losses at its Building + Interiors unit and said 14 of the unit's 73 projects, worth $2.3 billion, are loss-making or 'on watch'. More>>

ALSO:

WWF: Concerns With Suggestion To “Scrap” Fishing Monitoring

“Our Pacific neighbours, like Fiji and the Solomon Islands, are making this work with far less economic resources than New Zealand. There’s no reason the government can’t get this done by October.” More>>

ALSO:

Stink one!: Stink Bug Invasion Could Cost NZ Billions

An invasion of the brown marmorated stink bug - the pest discovered recently in three Japanese car shipments - would devastate New Zealand's fruit, vegetable and wine industries, destroying more than $4 billion of export value and costing thousands ... More>>