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.
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