announcment out

2 September 2010
The Manager
Company Announcements Office
ASX Limited
Major milestone achieved on Methodology for Forestry carbon credits
? Methodology moves to second validation
? Projects move forward with confidence
? Pipeline of projects building in South East Asia including
Indonesia
m2m Corporation Limited (m2m) and GreenCollar Climate Solutions (GCS) announce that the
second validation of the improved forest management - logged to protected forest methodology
with the Voluntary Carbon Standard (VCS) has commenced. The methodology is jointly owned
by m2m and GCS, as announced on 13 July 2010.
This is the most significant milestone in the internationally rigorous, time consuming and costly
process of approving the ?logged to protected? methodology that will provide the platform for m2m
and GCS to bring carbon credit projects around the world to completion under the VCS, thereby
creating quality voluntary carbon credits for sale to domestic and international corporations.
This methodology will be able to be applied on a worldwide basis to bring forestry carbon credits
projects to the market. This puts m2m in a strong position to be involved in many different
projects in the forestry sector.
Peter Saunders, m2m Chief Executive Officer, said: ?The methodology is a major milestone for
the business of creating forestry carbon offsets. Using this methodology, our projects and those
of our development partners, will create voluntary carbon offsets of the highest quality. These
credits will be verified under both VCS and Climate, Community and Biodiversity standards
satisfying the key purchasing expectations of voluntary buyers, pre-compliance buyers and
rainforest supporting NGOs. This is unique, valuable and a credit to all the parties involved.?
The second validator has started work under the VCS ?dual verification? procedures. This is
expected to be a speedy process. The sale of carbon credits arising from a project may
commence after final approval of the methodology.
?This new tool fills the gap that has until now prevented commercially logged forests around the
world from converting logging concessions into carbon credits under the VCS, thus protecting
forests while generating important revenue for local, indigenous communities,? said
James Schultz, Chief Executive Officer of GCS.
?This impacts on much of the deforestation taking place in Asia and Africa, where commercial
logging is one of the primary drivers of deforestation.?
m2m have, with their project developers, several projects throughout South East Asia that are
now able to be developed with confidence using this methodology. These projects are in various
stages of completion, with one close to verification and more being capable of completion with
adequate project funding by December 2010.
m2m Corporation Limited has entered into a memorandum of understanding for the development
of forestry projects in Indonesia. The preliminary due diligence on these projects has assessed
potential emission reductions in excess of 15 million tonnes of CO2e per annum.
m2m is pursuing on-going discussions with international carbon projects investment groups for
substantial project funding and development co-operation.
The first project has been delayed due to the prolonged process of international validation, but is
now expected to be completed within six to ten weeks. This project is expected to produce
approximately 12-14 million credits for immediate sale. Optimum prices for project credits are
achieved when they are sold after completion of the project verification and registration.
For further information please contact Ian Clarkson (Executive Chairman ? m2m) on
0438 399 751 or Peter Saunders (CEO ? m2m) on 0416 228 404