Intl Trade of NZ forestry Assigned Amount Units

EcoSecurities completes first international trade of New Zealand forestry Assigned Amount Units

Auckland, New Zealand, 11th June 2009: EcoSecurities, a leading company in the business of sourcing, developing and trading emission reductions from greenhouse gas abatement projects, has successfully completed the first international acquisition of Assigned Amount Units (AAUs) derived from New Zealand forests registered under New Zealand’s Permanent Forest Sink Initiative (PFSI).

The AAUs were bought from owners of over 300ha of forests planted across New Zealand’s North and South Islands. EcoSecurities expects to sell the AAUs on to international buyers, with the first onward transaction due to be completed with a major Japanese bank this week.

Simon Young, Managing Director of EcoSecurities New Zealand, commented that: “It is great to see export revenue being generated for New Zealand foresters right now from carbon credits sold into overseas markets. New Zealand has led the world in establishing a credible framework to account for forestry in carbon markets. These transactions reflect that good work and the potential for carbon forestry in New Zealand”.

Toshihide Kubo, Chief Executive Officer of EcoSecurities Japan Corporation, added that: “We are delighted to be able to market New Zealand forestry AAUs as an alternative carbon credit to meet the diverse needs of our Japanese client base. New Zealand AAUs are the best quality forestry compliance unit available under the Kyoto Protocol and are attracting interest in Japan and elsewhere, given their environmental integrity. As world markets become more familiar with New Zealand forestry AAUs, we expect demand will grow.”

ENDS

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