CO2 Group Expands into New Zealand

AUSTRALIAN ENVIRONMENTAL services company CO2 Group Limited expanded into New Zealand in June, the company’s first overseas venture. The expansion of CO2 Group services outside Australia allows it to extend its commercial footprint into international carbon markets: the first Australian dedicated carbon forest sink planting firm to do so. This initiative follows the passing of the New Zealand Emissions Trading Scheme (NZ ETS) and New Zealand parliamentary confirmation of the emissions compliance market commencing 1 July 2010.
A key feature of the NZ ETS is the ability to generate and sell carbon credits into the international carbon market which in 2009 had a market value of US$143 billion. CO2 Group has formed a partnership with Māori commercial development company Tukia Group, and New Zealand based investment and advisory firm Carbon & Energy Partners (CEP). The partnership will trade in New Zealand under the name CO2 New Zealand. CO2 Group holds a 45% interest in CO2 New Zealand, with Tukia Group and CEP holding the remaining 55%.