Green Invest to benefit from increasing carbon trading
22 February 2008: Green Invest’s carbon brokerage company Nextgen, should benefit from increasing greenhouse gas regulatory obligations. The first of three climate change reports by Professor Robert Garnaut commissioned by Kevin Rudd is suggesting a greater number of measures including higher carbon offset requirements by major carbon dioxide emitters. Enquiries: GREEN INVEST LIMITED
This has already materialised in a rush of enquiries to Nextgen about carbon conversation, consulting work and demand for carbon accounting. This has already resulted in increases in traded volume for both credits and electricity overnight.
The imperative comes from the first target beginning on 30 June 2008 in the form of compulsory emissions reporting by intensive carbon businesses.
While the market is quite immature in Australia, the estimated value of worldwide market carbon trading is $350 million per annum. These expanded obligations now appear likely to spread to a broader scope of industries including banks, insurance companies and large corporations.
Nextgen is the dominant carbon brokerage business in Australia. Nextgen is a pioneer in the industry in Australia and also provides related market advisory services to assist clients with their financial and environmental needs.
Nextgen’s client base includes domestic and international banks and financial institutions, energy generators, distributors and retailers, industrial companies and governments. To date, it has arranged transactions of emissions permits and emissions reductions created by renewable projects with a net market value of over $660 million.
“Carbon trading is one of the fastest growing areas in financial markets,” said CEO Mr Ken Edwards.
“Environmental offsets are now part of doing business. Most businesses don’t know where to go and Nextgen will advise and execute for companies with carbon offset obligations. This is where we have a leading position,” said CEO Mr Ken Edwards.
“Climate change and the environment involvement by business is not a fad. Investors in Australia and abroad are increasingly recognising the importance of the shift to greener living and green investment.”
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