BluForest Inc: Europe’s Largest Insurer Considers Carbon Credits Purchase in …
BluForest Inc. (OTCBB: BLUF) (OTCQB: BLUF)
Matthew Carr of Bloomberg.net reported that Europe’s largest insurer, Allianz SE, has been considering “expanding its business of buying carbon emission credits after getting enough of the certificates from a project in Indonesia to help offset its own emissions.”1
According to the report Nicolai Tewes, a spokesperson for Allianz, stated, “We think it’s an investment opportunity,” however this depends on the availability of projects and willing buyers.
The credits were created by a tract of land which was set aside in Indonesia to prevent deforestation. The reserve prevents approximately 90 million metric tons of emissions over a period of 30 years. The spokesperson did not provide details of the deal, including how many credits they are considering to purchase.
The article further states that the reserve, known as Rimba Raya, generated 2.2 million verified carbon units from July 1, 2009, through June 30, 2010, the project’s first year, according to a statement from SCS Global Services, the independent auditor hired to verify the reductions.2
About BluForest Inc. BluForest Inc. is a development stage company that is a publically traded carbon offsets marketing and renewable energy company. BLUF is executing its strategy to become a leading marketer of carbon offsets in the voluntary markets under the UN principle of Reducing Emissions from Deforestation and forest Degradation (REDD+). The BluForest website provides further information about the company which prospective investors are encouraged to visit.
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On behalf of the Board of BluForest Inc.
2 Ibid.
About SCS Global Services
SCS Global Services is an international leader in third-party environmental and sustainability verification, certification, auditing, testing, and standards development. Its programs span a cross-section of industries, recognizing achievements in climate mitigation, green building, product manufacturing, food and agriculture, forestry, consumer products, and more. Headquartered in Emeryville, California and celebrating over 40 years in business, SCS has representatives and affiliate offices throughout the Americas, Asia/Pacific, Europe, and Africa. Its broad network of auditors are experts in their fields, and the company is a trusted partner to companies, agencies, and advocacy organizations due to its dedication to quality and professionalism. SCS is a chartered Benefit Corporation, reflecting its commitment to socially and environmentally responsible business practices. SCS is also a Participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. For more information, visit www.SCSGlobalServices.com.
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