Carbon forest sink project developer expands to New Zealand

Carbon Conscious Limited, Australasia’s leading carbon forest sink project developer, has announced an expansion into the New Zealand market through a carbon forest sink deal agreed with a major Australasian energy company.

The contract involves significant investment by an international carbon forest sink company in the New Zealand carbon forest industry and will involve plantings to occur over multiple planting seasons commencing in 2011. The contract capitalises on the establishment of forestry in the New Zealand Emission Trading Scheme which commenced on 1 January 2008, with additional industry sectors introduced on 1 July 2010, and allows liable companies to offset their liability with carbon offsets generated from forestry projects.

Carbon Conscious has established New Zealand operations and has relocated existing staff from the Australian business to New Zealand. Tom Reynolds has been appointed General Manager Carbon Conscious New Zealand and has over 25 years’ experience in the New Zealand forestry sector.

This announcement follows major deals in 2009 with Origin Energy and BP and more recent deals with Wesfarmers Insurance as well as Australia’s first international AAU trade with Perenia designed for the Australian Governments Carbon Farming Initiative.