First Publicly-Displayed Credits On TZ1 Registry

MEDIA RELEASE 29 August 2008
For immediate distribution

First Publicly-Displayed Credits On TZ1 Registry

TZ1, together with GreenAir Ltd, announce the first carbon credits to be publicly listed on TZ1's Registry (viewed on www.tz1market.com).

The credits are Verified Emission Reductions (VERs) from New Zealand forest activities. The parcel of units (1.6 million tCO2e) has been consolidated from a number of forest owners.

TZ1 has recently opened the TZ1 Registry's Public View site for public viewing of carbon credits.

This facility is available for any Registry participants who choose to display publicly their credits registered, and credits retired.

Helen Robinson, Chief Executive, TZ1 Registry says the listing represents an important milestone for the company, "as the voluntary carbon market evolves, customers are seeking transparency, and buyers authenticity, of carbon credit ownership and origination."

"TZ1's new on-line Environmental Markets Registry is the first component of the fully integrated financial market infrastructure that TZ1 will provide to the market." The registry supports transacting in high quality voluntary carbon credits and environmental certificates and through a credible, externally audited retirement facility, enables companies to retire those units permanently.

GreenAir's Chairman and Executive Director Himanshu Dua says using a reputable carbon registry for voluntary carbon trades is essential to minimise risks for buyers and ensure the environmental integrity of the transaction.

"GreenAir has chosen to use TZ1 as its preferred carbon registry due to its high status as one of only four carbon registries globally to be accredited for the Voluntary Carbon Standard, which confirms the quality of the registry and superior capabilities of TZ1's service offering."

Mr Dua is confident of achieving a successful outcome from VER offer, and considers it represents a good opportunity to educate the global market of the quality of New Zealand forestry credits.

"GreenAir believes VERs from New Zealand forest activities compare favorably with other VERs on the international market, based on the New Zealand Government's decision to award compliant credits for forest projects under the Permanent Forest Sink Initiative and include forestry in the proposed Emissions Trading Scheme, the first country in the world to do so.

"GreenAir is working to educate the international market about the high quality of New Zealand forestry carbon credit projects, which will ensure the forest owners we represent achieve maximum returns for their voluntary and complaint credits."

GreenAir has a registered client base of forest owners in New Zealand representing 200,000 ha of forestry and as well as the VER parcel, is currently finalising forward sales of compliant Assigned Amount Units (AAUs) to be generated from forestry projects under the Permanent Forest Sink Initiative.

ENDS

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