VANCOUVER, June 21 /PRNewswire-FirstCall/ - Monday June 21, 2010 - Carbon Friendly Solutions Inc. (TSX Venture Exchange: CFQ) ("CFS" or the "Company") is pleased to announce its wholly owned subsidiary Global CO2 Reduction Inc. has received project Validation for its Northern Ontario Forestry Project from the Rainforest Alliance.
The Rainforest Alliance has validated that Global CO2 Reduction, Inc.'s Northern Ontario Forestry Offset Pilot Project design is in compliance with the Climate, Community and Biodiversity Alliance's Project Design Standards, Second Edition (referred to as the CCB Standards). This independent third-party validation covers an afforestation project on an area of 45 hectares of abandoned agricultural land owned by the municipality of Kapuskasing, Ontario, Canada.
On May 14, 2010 the Company signed an Emission Reduction Purchase Agreement with Toronto based company Carbonzero, and as per the terms of the agreement, CFS will follow through with the immediate sale and delivery of 10,000 high quality Emission Reductions Units to Carbonzero from its Northern Ontario Forestry Project, upon receipt and confirmation of the CCBS Validation Statement to Carbonzero.
Michael Young, CEO of Carbon Friendly Solutions commented; "We are very proud to be the first project in Canada to receive a CCBS Validation Statement. The successful validation shows that the project has been designed in a way that will not only reduce emissions, but will also deliver benefits to people and the environment around the project site."
About Rainforest Alliance
The Rainforest Alliance works with people, whose livelihoods depend on the land, helping them transform the way they grow food, harvest wood and host travelers. From large multinational corporations to small, community-based cooperatives, businesses and consumers worldwide are involved in the Rainforest Alliance's efforts to bring responsibly produced goods and services to a global marketplace where the demand for sustainability is growing steadily. For more information, visit www.rainforest-alliance.org.
The Climate, Community and Biodiversity Alliance (CCBA) is a partnership between leading companies, non-governmental organizations (NGOs) and research institutions seeking to promote integrated solutions to land management around the world. With this goal in mind, the CCBA has developed voluntary standards to help design and identify land management projects that simultaneously minimize climate change, support sustainable development and conserve biodiversity. Website address http://www.climate-standards.org/index.html
Carbonzero was founded in 2006 and has rapidly risen to become a leader in the design and implementation of corporate carbon reduction strategies and solutions in the emerging low carbon economy. A top performer in the 2009 David Suzuki Foundation and Pembina Institute report on Carbon Offsetting, Carbonzero has led the way in setting the leading industry standards for measurable, verified emissions reduction offsets in Canada. Carbonzero helps transform individuals, governments and organizations by aiding them in assessing, reporting, and reducing their carbon footprint. Website address www.carbonzero.ca
Carbon Friendly Solutions Inc.
Carbon Friendly Solutions Inc. ("CFS") provides solutions and products for companies, organizations and individuals looking to reduce or offset their global warming impact caused by greenhouse gas ("GHG") emissions, while including the generation of carbon credits for sale in the global Voluntary and Compliance markets. Through its subsidiaries, Global CO2 Reduction Inc., CO2 Reduction Poland Sp. z o.o. and Pacific Briquetter's Inc., CFS is focusing on removing and offsetting GHG emissions from the development of reforestation projects, biomass energy products and renewable energy technology projects that are independently validated and verified to globally recognized standards and methodologies. Website address www.carbonfriendly.com
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
Certain statements included in this News Release contain forward-looking statements, including disclosure concerning possible or assumed future results of operations of the Company. Forward-looking statements typically are preceded by, followed by or include the words - "believes," "expects," "anticipates," "estimates," "intends," "plans," "or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions, and the Company's results could differ materially from those anticipated in these forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Carbon Friendly Solutions Inc.