This was the heading on the Sunday Star Times business page on the 24th April of an article by journalist Rob Stock. Greenplan’s Managing Director John Barton had given Mr Stock a five minute telephone interview as to where Greenplan is at in respect to its investors’ forests and the ETS (Emissions Trading Scheme).
Looking back over our newsletters we note it is over twelve months since we last updated you on this important topic since then there hasn’t been a lot to talk about. We have been fully engaged with our legal and accounting professionals in detailing how we are going to take Greenplan into the ETS. However we are still weeks away from mailing you the disclosure document and investment statement for you to vote on.
With the approval of Perpetual Trust, Greenplan’s Statutory Trustee, we have registered the carbon of 43 of Greenplan’s 63 forest partnerships into the registry. That totals 443,968 units for which we have been allocated NZUs, the currency of the New Zealand Emissions Trading Scheme. These NZUs will just sit in the account until Greenplan Forest partners give us the okay to sell them. At the current price of $20 per NZU that equates to $8.8M.