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Negotiations for Ukraine carbon credits hinge on Government

| Sourced From Nbr |

Renewed negotiations between a New Zealand-registered organisation and the Ukraine government over the purchase of 50 million carbon creditrs rest the government coming to the party.

Tawhaki International is a limited partnership listed with the New Zealand Companies Office, which names London-based kiwi Michael Devoe as its general partner as a director of Omke Minerals in the United Kingdom.

The company attempted to buy 50 million Assigned Amount Units (AAUs), each representing a tonne of carbon, from the Ukraine government in May last year. The deal, along with another arrangement for 100 million tonnes sought by a Swiss company, fell through because there was no government sanction from New Zealand.

Reports from the Ukraine suggest the new negotiations also rest on the ability of Tawhaki and Mr Devoe to woo the New Zealand government to buy the emission rights.

However, Climate Change Issues Minister Nick Smiths office said it had no knowledge of the negotiations and AAUs, which can be used to offset carbon emissions, can not be used in New Zealand anyway.

If a way forward can be found for the emissions credits deal, it would be one of the biggest in history.

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