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Jan. 17, 2013 /PRNewswire/ -- Global Resource Energy Inc. (OTCQB-GBEN) is pleased to announce the pre-purchase of 66,000 Certified Emission Reduction Credits from BluForest Inc. (BLUF). Total purchase price of
$660,000.00 is to be paid to BluForest in the form of 3,000,000 restricted shares of Global Resource Energy Inc.
Robert Baker, President & CEO of
Global Resource Energy Inc. (OTCQB-GBEN) is excited about the potential this opportunity provides to both
BLUF as part of their business models for the reduction of greenhouse gas emissions and enhanced pollution control for our planet.
Charles Miller President & CEO of
BluForest Inc. said, "BluForest is happy about the sale of the CERs, and looks forward to a potential working relationship with a clean energy company that shares the same vision and goals as BluForest."
About BluForest Inc.
BluForest is a publicly traded carbon offsets marketing company that is setting a new standard for sustainable business in carbon offset credit trading. Our management team is forged from a partnership of vast business and life experience with a common, unifying goal: Creating a sustainable, profitable business that strives to protect the world's irreplaceable rainforests while striving always to have a positive impact on people's lives.
Certified Emission Reductions (CERs) are a type of emissions unit (or carbon credits) issued by the Clean Development Mechanism (CDM) Executive Board for emission reductions achieved by CDM projects and verified by a DOE under the rules of the Kyoto Protocol. CERs can be used by Annex 1 countries in order to comply with their emission limitation targets or by operators of installations covered by the European Union Emission Trading Scheme (EU ETS) in order to comply with their obligations to surrender EU Allowances, CERs or Emission Reduction Units (ERUs) for the CO
2 emissions of their installations. CERs can be held by governmental and private entities on electronic accounts with the UN. CERs can be purchased from the primary market (purchased from original party that makes the reduction) or secondary market (resold from a marketplace). At present, most of the approved CERs are recorded in CDM Registry accounts only. It is only when the CER is actually sitting in an operator's trading account that its value can be monetized through being traded. The UNFCCC's International Transaction Log has already validated and transferred CERs into the accounts of some national climate registries, although European operators are waiting for the European Commission to facilitate the transfer of their units into the registries of their Member States. Temporary CERs and Long CERs are special types of CERs issued for forestry projects. They are two ways of accounting for non-permanence in forestry CDM project activities. Temporary CER or tCER is a CER issued for an afforestation or reforestation project activity under the CDM which expires at the end of the commitment period following the one during which it was issued. Long-term CER or lCER is a CER issued for an afforestation or reforestation project activity which expires at the end of its crediting period.
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