Negotiations for Ukraine carbon credits hinge on Government

Renewed negotiations between a New Zealand-registered organisation and the Ukraine government over the purchase of 50 million carbon creditrs rest the government coming to the party. 

Tawhaki International is a limited partnership listed with the New Zealand Companies Office, which names London-based kiwi Michael Devoe as its general partner as a director of Omke Minerals in the United Kingdom.

The company attempted to buy 50 million Assigned Amount Units (AAUs), each representing a tonne of carbon, from the Ukraine government in May last year. The deal, along with another arrangement for 100 million tonnes sought by a Swiss company, fell through because there was no government sanction from New Zealand.

Reports from the Ukraine suggest the new negotiations also rest on the ability of Tawhaki and Mr Devoe to woo the New Zealand government to buy the emission rights.

However, Climate Change Issues Minister Nick Smith’s office said it had no knowledge of the negotiations and AAUs, which can be used to offset carbon emissions, can not be used in New Zealand anyway.

If a way forward can be found for the emissions credits deal, it would be one of the biggest in history.


1 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

1 Comment & Question

Commenter icon key: Subscriber Verified

Good thinking Nick! Let's buy some more sky for the birds instead, eh?
I mean, why waste that tax take from the ETS on nonsense like this?

  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.7215 0.0000 0.00%
AUD 0.9353 0.0000 0.00%
EUR 0.5871 0.0000 0.00%
GBP 0.5174 0.0000 0.00%
HKD 5.6597 0.0000 0.00%
JPY 76.4290 0.0000 0.00%


Commodity Price Change Time
Gold Index 1312.3 -2.100 2018-03-16T00:
Oil Brent 66.0 1.090 2018-03-16T00:
Oil Nymex 62.4 1.140 2018-03-16T00:
Silver Index 16.3 -0.150 2018-03-16T00:


Symbol Open High Last %
NASDAQ 7504.4 7514.2 7481.7 0.00%
DJI 24877.3 25031.0 24873.7 0.29%