| Sourced From Nbr.co.nz |
A handful of New Zealand companies are early participants in the Emission Reduction Unit (ERU) market, with four windfarms and two landfill gas site projects receiving 616,000 ERUs from 4.5 million issued so far worldwide.
Based on a price of $NZD25 a unit, they are worth $15.4 million.
Hungarian-based Vertis Environmental Finance expects a further 140-150 million ERUs to be generated by 2012, said chairman James Atkins.
After that, emission reduction projects in committed countries (including New Zealand) will not be able to generate compliance credits under the joint implementation (JI) mechanism that arose from the Kyoto Protocol.
Interest was building in the units, although most international markets had been trading EU Allowances (EUAs) and Certified Emission Reductions (CERs), Mr Atkins said.
Last week, industry players told NBR most New Zealand companies would
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