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| TZ1 Appointed First Global Biodiversity Registry | | Aug 14 2008 | |
Environmental markets infrastructure provider TZ1 has been appointed as a global registry for the Malua Wildlife Habitat Conservation Bank.
The Eco Products Fund, LP, a private equity fund jointly managed by New Forests Inc. of Washington, D.C., Equator Environmental, LLC of New York City, and the Government of Sabah in Malaysia today launched the Malua Wildlife Habitat Conservation Bank (Malua BioBank), a first-of-its-kind business model for rainforest conservation.
The Malua BioBank will generate Biodiversity Conservation Certificates, with each Certificate representing 100 square meters of rainforest restoration and protection. The sale of Biodiversity Conservation Certificate will endow a perpetual conservation trust and generate a return on investment.
The TZ1 Registry has been appointed as the global Registry provider for the management of these Malua BioBank Biodiversity Conservation Certificates. This will be the first Biodiversity Registry of its kind in the world.
"The Malua BioBank was seeking a registry facility that could support the robust ownership management of Biodiversity Conservation Certificates," said David Brand, Managing Director, New Forests Pty Ltd. "The TZ1 Registry is a credible and secure online registry facility that understood our need for a sophisticated and transparent means of tracking this new class of environmental credits."
"TZ1 is delighted to provide an important role in the emerging biodiversity marketplace which contributes to making the restoration and conservation of the Malua Forest Reserve sustainable and commercially viable," say Helen Robinson, Chief Executive, TZ1 Registry.
The TZ1 Biodiversity Registry will list 1.3m Biodiversity Conservation Certificates today, 14 August 2008. These will be available on-line for viewing on both www.maluabiobank.com and on the TZ1 Registry www.tz1market.com.
About TZ1
TZ1 Limited is a pre-eminent environmental commodities markets infrastructure provider. As the global trend in managing environmental assets moves towards price-based mechanisms, a robust registry is an essential tool to provide transparency and credibility. Only credible and robust financial infrastructure (with inherent flexibility) will best serve this new marketplace. A core part of the TZ1 business is its Registry service, providing critical market capability and giving the necessary comfort to project developers, buyers and the increasingly important investors in these emerging markets. For more information: http://www.tz1market.com
About New Forests
New Forests Pty Limited is an environmental investment management and advisory services firm. In addition to world-leading forestry investment expertise, New Forests is at the forefront of developing and commercializing environmental products and evaluating opportunities from emerging environmental markets for carbon sequestration, biodiversity protection and water quality. New Forests has offices in Sydney, Washington, D.C., San Francisco, and Kota Kinabalu (Malaysia). The company holds an Australian Financial Services License.
About Equator Environmental, LLC
Equator Environmental specializes in the generation and management of high quality carbon credits and environmental assets derived from reforestation projects, forest conservation and sustainable land management. Equator uses state-of-the-art financial structuring techniques to create diversified revenue streams that benefit governments, timberland owners and local communities who make up its client and partner base. Equator advocates policies that support the development of ecosystem markets and create sustainable cash flows related to the protection and enhancement of the world's ecosystems.
About the Eco Products Fund, LP
The Eco Products Fund, LP (EPF) is a $100 million private equity fund that is jointly managed by New Forests Inc. and Equator Environmental, LLC. EPF invests in a portfolio of ecosystem-based instruments associated with wetlands and endangered species conservation, forest- and land-based carbon sequestration, and water quality improvements in the United States and internationally.
About the Sabah Forestry Department
The Sabah Forestry Department is a state government agency that was established in 1914 and entrusted as the custodian of the State's forest resources. A total of some 3.6 million hectares of forest reserves or about 50% of the total state's landmass are under the jurisdiction of the forestry department. The department aims to place all these forest reserves under Sustainable Forest Management (SFM) based on the state's model forest, Deramakot, which is the first tropical forest to have been certified as a well managed forest under the Forest Stewardship Council (FSC) standards. The Forestry Department is a strong believer in SFM as the way forward to ensure a balanced and perpetual role of the forests for social, environmental and economic gain. Since the statewide adoption of SFM in 1997, the Forestry Department has been actively working with partners to achieve this goal, including seeking potential partners in devising sustainable financing for SFM implementation.
About Yayasan Sabah
The Sabah Foundation works to assist the Sabah State Government in strategic development initiatives. The Sabah Foundation is the largest forest concessionaire in Sabah, wholly owned by the State Government. It is responsible for the management of approximately 1 million hectares of forest in Borneo, including forests in the Danum Valley, Maliau Basin and Imbak Canyon. This area is home to the highest biodiversity in Sabah.
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