Purchase of offsets key to carbon neutrality

Media Release
For immediate release: Thursday, 1 March 2007

Meridian Energy’s purchase of emission offsets key to carbon neutrality certification

Meridian Energy has bought carbon emission offsets from renewable electricity generator TrustPower to offset its own carbon emissions during its carbon neutrality certification process, the Chief Executive of Meridian Energy, Keith Turner, announced today.

Dr Turner said that on 26 February Meridian Energy announced that its electricity – generated from renewable resources – had received CarboNZero certification from Landcare Research.

“Today I’m pleased to be able to add that an important aspect of achieving this goal was our purchase of emission offsets from renewable generator TrustPower.

”Our aim has always been to reduce our emissions wherever possible, but to be certified carbon neutral we also needed to be able to purchase high-quality emission offsets to offset, and therefore take responsibility for, any remaining emissions.

“In respect of the emissions that Meridian Energy could not eliminate for the measurement period, we purchased emission offsets generated by TrustPower’s Tararua Wind Farm Stage II Project in the Manawatu,” Dr Turner said.

Meridian Energy also produces carbon offsets from its own renewable energy projects, such as its Te Apiti and White Hill wind farms in the Manawatu and Southland, but Dr Turner said he believes that it is more transparent for organisations to purchase verified carbon credits from other companies rather than use their own projects to offset their own carbon liability.

TrustPower Chief Executive Keith Tempest said TrustPower was pleased to be in a position to be able to assist other NZ businesses that need to offset carbon emissions.

“TrustPower will be an active participant in the developing carbon emissions trading market,” said Mr Tempest.

Dr Turner said that having previously sold carbon credits in both the Kyoto and voluntary contexts, Meridian Energy has now participated as both a buyer and seller in the emerging emission trading market.

“In our view such markets will be an essential mechanism for driving the behaviour change required to tackle climate change. The demand for Meridian’s Gold Standard offsets remains high and enquiries can be made through our website.

“We believe that measuring, reducing and taking responsibility for emissions will assist our organisation and others prepare for when a cost will be incurred for emitting carbon,” said Dr Turner.

ENDS

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