BluForest Inc. Monitors Developments Within The EU To Allow Carbon Offset Swaps Retroactive To May 1, 2012
QUITO, Ecuador, Nov. 21, 2012 /PRNewswire/ -- BluForest Inc. (OTCBB: BLUF) (OTCQB: BLUF)
BluForest Inc. ("BluForest" or the "Company"), an emerging leader in the field of Carbon Trading and Renewable Energy, is monitoring developments within the EU to allow Carbon Offset Swaps retroactive to May 1st 2012 and how this may affect the Company's future development.
As outlined in the Bloomberg News article by Ewa Krukowska on October 2nd, 20121 the "European Union is considering from May 1st, 2012 allowing emitters to swap international carbon offsets into EU allowances eligible for compliance in the next phase of the region's emissions market. Manufacturers, utilities and airlines in the EU program will be able to request until the end of March 2015 to swap offsets generated for emission reductions before 2012, the European Commission, the bloc's regulatory arm, said in a draft revision of the EU carbon registry regulation obtained by Bloomberg News. In the third phase of the EU emissions trading system, which starts next year, companies will need to exchange imported carbon-reduction credits into EU permits before surrendering them for compliance."
Further, Krukowska reports that the commission put forward a measure to member states to talk and get approval for International credits which would allow for the cutting of greenhouse gases from 2013 onward and would be exchanged until the end of 2020. "The EU law allows about 12,000 factories and power plants in the bloc's emissions trading system to use United Nations offsets as a cheaper way to comply with pollution quotas. The rules of the program will tighten from next year when emitters will be permitted to use UN credits from new projects only as long as they are based in least developed countries."
The carbon swapping would allow the companies with "pollution limits in the world's largest emissions cap-and-trade system to manage their eligibility risk," according to Konrad Hanschmidt, an analyst at Bloomberg New Energy Finance in London. In an email to Ewa Krukowska, Hanschmidt stated: "In return for an offset a company will receive an EU allowance that they do not have to immediately submit for compliance...In essence that will remove the risk of holding credits that could become ineligible in the future."
BluForest is entering a rapidly evolving industry that offers investors the opportunity to get involved during the early stages of a marketplace poised for significant returns with mitigated risks. In addition to the voluntary carbon market which is demonstrating significant growth resulting from awareness and social responsibility, the Carbon Credit regulatory markets in Europe, Australia, California, Mexico and several other jurisdictions are also experiencing substantial growth. These indicators and the potential developments within the EU all point to a clear message: 'The time to invest in BluForest, an ethical company positioned to capitalize on this growth has never been better!'
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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.
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SOURCE BluForest Inc.
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