U.S Firm to Buy More Carbon Credits

Tanzania Daily News (Dar es Salaam)

Finnigan Wa Simbeye

18 July 2011

FARMERS in Uchindile and Mapanda forestry areas in Iringa and Morogoro regions should expect more money from carbon credit exports after Green Resources Limited signed a deal with US based, CarbonNeutral Company Limited to buy from them.

In a statement released recently, Green Resources said the new sales agreement signed with CNCL will allow the company and farmers owning forests in its neighbourhood to sell more than 139,358 credits sold last year.

“On the voluntary side of the carbon market, Green Resources signed a new exclusive purchase agreement with The CarbonNeutral Company for credits from the next verification of the Uchindile and Mapanda reforestation project,” the statement read in part.

It added that Uchindile and Mapanda forests projects are the first Agriculture Forestry and other Land Use Voluntary Carbon Standard projects in the world to be registered and receive issuance of VSC credits.

“This demonstrates the increasing demand of high quality forestry credits,” the statement signed by Nick Embden, who is GRL’s Carbon manager and Olav Bjella, the company’s Resource Director, pointed out.

Last year, communities in the same area earned more than 125m/- after selling carbon credits through GRL which is a subsidiary of Norwegian based Green Resources SA.

The New York based The CarbonNeutral Company is a world leading provider of carbon reduction solutions.

Since its inception in 1997, the company has worked with more than 300 large businesses and thousands of small and medium size companies from 32 countries in the world.

In all, its 300 plus partners who now include GRL have sequestered more than four million tons of carbon from 300 projects on six continents.

The GRL statement pointed out that its Uchindile and Mapanda project is validated to Carbon Community and Biodiversity Standard (CCBS) and will also undergo verification to the standard this year to demonstrate co-benefits.

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