QUITO, Ecuador, Oct. 3, 2013 (GLOBE NEWSWIRE) -- BluForest Inc. (OTCBB:BLUF) (OTCQB:BLUF) announced that it has been reported by Businessweek.com that Norway has begun planning on buying carbon credits from "emissions-cutting projects in developing and developed countries that may have to stop operating due to the low prices for the offsets they generate".
It is said that the nation possibly will purchase somewhere around 30 million United Nations Certified Emission Reductions and Emission Reduction Units. According to the Ministry of Finance the possible purchase would be for the period from 2013 through 2020.
Norway will buy "from stranded UN-approved projects facing a risk of discontinuation due to the low CER prices," the ministry said.
"Norway will buy eligible credits, which means verified UN-approved emission reductions that can be used for compliance with Norway's obligations under the Kyoto Protocol and any relevant successors," Kjetil Lund, a state secretary at the finance ministry, said in an e-mailed response to questions from Businessweek.com. "Both CERs and ERUs from stranded projects are applicable."
About BluForest Inc.
BluForest Inc. is a development stage company that is a publicly 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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