Carbon Conservation 2007 - 11

Media Kit

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

About Carbon Conservation

March 2007 $3M Rio Tinto deal protecting 13,000 Ha in Australia, runner up Banksia & UN Earth Day Awards April 2007 MOU signed with three Governors in Indonesia to use carbon finance to avoid deforestation September 2007 Coverage on front page of WSJ for our forest deal, Time Magazine, Aceh Forestry Moratorium December 2007 Front page of Sydney Morning Herald, Age Green Governors Dinner funded by ADB January 2008 Our Aceh project gains approval as world first CCBA validated REDD project and largest carbon project in the world with 100M tCO2e, 750,000 Ha March 2008 Merrill Lynch ground breaking purchase agreement USD$9M up to USD$420M November 2008 Winner Environmental Finance Deal of Year, Finalist FT Sustainable Banking Deal of the Year MoU with California Governor Schwarzenegger November 2009 Signed carbon deals: biomass energy, forests, agriculture Dorjee Sun named TIME Magazines Environmental Hero for the year 2009 October 2010 CC partners with Asia Pulp & Paper(APP) to develop the worlds first privately funded REDD-type project, the Kampar Carbon Reserve on 15,640 hectares of peat forest on the Kampar peninsular, in Sumatra. March 2011 CC partners with East Asia Minerals to develop a green mining project that will use carbon and biodiversity off-sets April 2011 CC partners with APP to develop a Sustainability Roadmap to 2020, visiting all of their Indonesian Pulp and Paper mills and selected forest concessions

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

Press Coverage
Courier Mail front page: Money Grows on Trees ABC: Landmark carbon credit deal struck (2006) Climate Environmental Daily: From Qld to Aceh Wall Street Journal front page: Rainforest Rescue ABC: Carbon Scheme to save Aceh Forests Age: Hidden Colony of Orangutan in Borneo Sydney Morning Herald and Age front page Biz Ecosystem Marketplace: Painting the town REDD TIME Magazine: Environmental Heroes (2007) Carbon Finance: Indonesia eyes 100MT of VERs Age: Governors take action to save rainforests Point Carbon: Indonesian avoided deforestation New Yorker: Big Foot Carbon Emissions (2008) Fortune Mag: Merrills Carbon Bet: Why a Wall Street Firm wants to save a forest in Sumatra Business Spectator: Forest Fortune Jakarta Post: Merrill Lynch to invest $9M into RI carbon credit project Mongabay: 1st Rainforest deal becomes reality Ecosystem Marketplace: Rocking for REDD Reuters: Schwarzenegger and Aceh link up on forest carbon credits Sydney Morning Herald and Age front page Biz section article: Growing Money on Trees Sydney Morning Herald: Bringing Vision to Fruition (2010) The Australian Financial Review: Logging Giant sees profit in carbon credits (2011)

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

Landmark carbon credit deal struck

By Jane Paterson, Thursday, 16/11/2006

A landmark deal, to be announced this afternoon, will see farmers around Charleville sell carbon credits to a major mining company. The deal involves Rio Tinto, parent company to Comalco, paying three landholders in the Charleville area to hang onto their trees, rather than clear them under permits issued by the Queensland Govt. The price paid by the company remains confidential but one grazier has made around $1 million out of the transaction. The deal was brokered by the Carbon Pool which has bought the farmers rights to clear on their freehold land, and onsold the carbon credits from the trees to Comalco. Unfortunately other farmers interested in cutting such deals have to have an existing permit to clear trees, and all of those permits cease to be valid beyond December 31 of this year, when the Queensland Government's tree clearing ban begins.

Forest Gumption
While governments are spending millions trying to tackle carbon emissions, one Entrepreneur Is getting right to the root of the problem. Erik Jaques reports

His business plan was simple: corporations that need to meet greenhouse gas emissions targets pay governments and farmers to protect forests instead of clearing them for cash crops. In return, investors get the trees carbon dioxide tonnage, which is then converted to carbon credits and sold to other businesses at a profit. His research soon led him to the The Carbon Pool, a small company in Lismore, New South Wales, which was in the process of negotiating one of the worlds first notable deforestation deals with Rio Tinto, which would create 1.25 million carbon credits from protecting 13,000ha in Queensland, Australia. I just thought what they were doing was amazing, Sun marvels. The Carbon Pool was acquired in April 2007 by Carbon Conservation, a new trading entity created by Sun and backed by 20 angel investors and high-net-worth individuals. Suns first stop was Indonesia a country that, astonishingly, ranks as the planets third largest CO2 culprit after the US and China due to the widespread burning of forests to make way for agriculture and, in particular, palm oil plantations. Several whirlwinds of virtuosic negotiation later, and the governors of the provinces of Aceh, Papua and Papua Barat signed an agreement giving Carbon Conservation rights to seek carbon credits to minimise deforestation across 50 million ha of land. Sun embarked on a worldwide bid to convince risk-averse investors to cough up cashfinally investment-bank behemoth Merrill Lynch saw the light

Schwarzenegger and Aceh link up on forest carbon credits

Wed Nov 19 11:38:10 UTC 2008, By David Fogarty, Climate Change Correspondent, Asia

California and two other U.S. states signed a pact late on Tuesday with Indonesia's Aceh province that could see forest carbon credits from Aceh accepted into U.S. emissions trading schemes. The governors of Aceh, California, Illinois and Wisconsin signed the pact in Los Angeles. It commits the states to working toward accepting avoided deforestation carbon credits from a major forest reserve in Aceh into their schemes. "This MoU (Memorandum of Understanding) will wake up the world to reducing emissions by stopping the destruction of our forests," said Aceh Governor Irwandi Yusuf. "This will open up a door to robust, verified forest carbon credits being accepted into American markets," he said in an SMS to Reuters from Los Angeles. The United Nations has backed a pay-and-preserve scheme called Reduced Emissions from Deforestation and Degradation (REDD) in which rich nations buy carbon credits from developing nations in return for keeping their rainforests standing. The scheme, which is still being developed, could be worth tens of billions of dollars a year and could transform how developing states value their remaining forests.But there have been concerns about how best to measure and verify a forest remains in tact for the long term and how best to calculate a forest's carbon stock. In Aceh, Yusuf has backed the preservation of a 750,000 ha (1.88 million acres) forest reserve named Ulu Masen. Australia-based Carbon Conservation has helped develop a plan to protect and rehabilitate the forest and linked up with Merrill Lynch to sell carbon credits from the project. The aim was to produce the first batch of more than 500,000 VERs in the second half of next year, said Carbon Conservation CEO Dorjee Sun. "The goal is to make sure the quality of the emissions reductions from Indonesia are on par with those that are being issued in America. So there's got to be a large amount of synchronization of standards to make sure that credits created in Aceh are real, robust, verifiable and accountable," he said. U.S. President-elect Barack Obama has pledged to create a national emissions cap-and-trade system but already there are state-based schemes under development

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

Wall Street Journal

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

Merrill Lynch's carbon bet Why a Wall Street firm wants to save a forest in Sumatra.
By Marc Gunther, senior writer

(Fortune) -- The business of "carbon farming" is growing fast -- and Merrill Lynch is the latest big company to bet that it will become profitable.

For now, the payments are going to villagers in the developing world who agree to protect endangered forests. Starbucks, Marriott and Rio Tinto, among others, have all agreed to finance projects designed to deter deforestation. This week, Merrill Lynch announced that it will invest $9 million to help save a tropical forest in Aceh, Indonesia. It's the first time a Wall Street firm has invested in carbon farming, and let's be clear: this isn't philanthropy of public relations; it's strictly business. In fact, the man who put the deal together to save the 1.9-million acre forest, called Ulu Masen, believes it could be a very big business. "It will be the biggest carbon project in the history of the world if we can pull it off," says Dorjee Sun, the 31-year-old founder of an Australian startup company called Carbon Conservation. Here's how the deal will work: Merrill will pay villagers in Aceh, a province on the island of Sumatra, to stop logging their forests. Aceh, of course, is the place that was devastated by a tsunami in 2004 and, before that, wracked by civil unrest. It's also home to Sumatran tigers, clouded leopards and orangutans, and therefore of special interest to environmentalists. The money will be used to train the villagers in alternative livelihoods, like growing coffee, cocoa or palm trees for oil. In exchange, Merrill will get carbon credits, which are also known as carbon offsets -- that's the "crop" in carbon farming. The credits will meet quality standards set a group called the Climate, Community and Biodiversity Alliance (CCBA), whose members include environmental groups Conservation International, The Nature Conservancy and the Rainforest Alliance, and companies as BP, Intel and SC Johnson. The alliance functions as a regulator, albeit without legal clout

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

Dorjee Sun

By Bryan Walsh Thursday, Sep. 17, 2009 If scientists could tap whatever source of energy it is that powers Dorjee Sun, we wouldn't have a climate crisis. Chinese Tibetan by parentage but 100% Australian by birth and accent the 32-yearold Sun has been on the go since he graduated from the University of New South Wales less than a decade. agoHe founded an Internet company for corporate recruitment, a remote-tutoring firm and a creative-media agency. He made his first million before the age of 30 but it wasn't until he launched Carbon Conservation, which brokers rain-forest-carbon-credit deals, that he became truly busy. "I'm just wired nonstop," Sun says, speaking from Singapore, one of several cities he calls home. Carbon Conservation grew out of Sun's concern for the millions of hectares of rain forest destroyed each year in Indonesia. He knew that nonprofits alone weren't going to stop tropical deforestation, which contributes as much as a quarter of the world's carbon emissions. Deforestation would only end when it becomes more profitable to keep forests than to turn them into logs or farms. "I love NGOs, but I don't think they're the people alone who can change the world," says Sun. "You have to make it a business." Building Carbon Conservation wasn't easy the Kyoto Protocol doesn't yet recognize avoided deforestation and Sun literally had to force himself into a U.N. conference in early 2007 to put his business on the map. But the Australian has quickly emerged as a go-to person for avoideddeforestation projects in Southeast Asia. In April 2008 he brokered the world's first commercial avoided-deforestation project, in the war-torn Indonesian province of Aceh, with investment bank Merrill Lynch paying to protect 1.9 million acres (770,000 hectares) of pristine jungle in exchange for the value of the carbon locked inside the trees, carbon that can later be sold on the emerging international market. That same year he helped bring the governor of Aceh to California, where Governor Arnold Schwarzenegger signed the first state-to-state agreement on reducing deforestation. Throughout, Sun was followed by cameras for a documentary, The Burning Season, which premiered this April at New York City's Tribeca Film Festival. "It's been cool," he says. But ensuring that the forest and its carbon stays safe has taken a lot more work then Sun expected. He and his partners have hired former rebels from Aceh's civil war to patrol the forest for illegal loggers. Even Sun's energy levels have been tested. "I'm an optimist, but this can be like fighting to hold back the tide," he says. "Still, I'm going to do this full time, 1,000%." It will take nothing less. GREEN TIP 'Go vego once a week! Meatless Mondays! Imagine if the world reduced its environmental footprint by changing our diets one person at a time.' Dorjee Sun Find this article at: http://www.time.com/time/specials/packages/article/0,28804,192 4149_1924155_1924438,00.html

TIME MAGAZINE HEROES OF THE ENVIRONMENT 2009

ILLUSTRATION FOR TIME BY KIM ROSEN

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

Bringing vision to fruition

Rod Myer November 3, 2010

First there was a deal with Rio Tintos Aluminium business under Australias Greenhouse Friendly Scheme. Then in October 2007 work started on a more ambitious plan to protect forests in the Indonesian province of Aceh. Around the same time he produced a film called The Burning Season which detailed devastation of Asias forests and his attempts to save them with carbon deals. The film triggered popular support, including from Californian governor Arnold Schwarzenegger, but getting investment dollars was another thing. We pitched to 206 different funds and got rejected by 205. Then I met Merrill Lynch in London. After four months of due diligence we got a binding obligation for US$9 million which could go up to $432M. He pushed on anyway and eventually in April 2008, the deal was formalised. It worked like this: Indonesian regions got money to preserve the forest, turning poachers and farmers into forest guards, and Merrill Lynch would get the resulting carbon credits to sell into world markets. Then in 2008 after those milestones, the global financial crisis happened. For two months I didnt know if the guy who signed off the deal for Merrills still had a job. Merrills went down, got bought by Bank of America and I had to fly to New York. It all stayed on track fortunately but it was touch and go. There have been other agreements in Papua then recently one with paper giant Asia Pulp and Paper. They had been attacked by green groups and my stakeholders said we dont want to work with them. I said if you want to bring change you have to change the biggest players. We eventually negotiated a fully transparent deal with high standards. Instead of logging 20,000 hectares and planting fast-growing acacia they will preserve the forest for carbon credits. Im under pressure because if I can show the return on carbon is close or comparable to the return from paper pulp in some areas we stand a good chance to convince other commercial players that high-value conservation areas can be set aside for carbon. I really dislike giving up. Id invested 18 months of my life and Id bought on a lot of investors and stakeholders who trusted me and believed in me. I felt that the worst thing that could happen was if it didnt work. I was forced to doing something for more than just myself. I couldnt just retreat. With the carbon markets in abeyance, Carbon Conservation ekes out a living with consultancy work and still relies on some of the millions it raised in initial working capital. Home for Dorjee is Singapore but I travel up to 300 days a year. As Carbon Conservations CEO, he was named one of Time magazines Environmental Heroes of the year in 2009.

Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

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Never forget that the economy is a wholly owned subsidiary of the environment.
TM Carbon Conservation Pte Ltd 2011 All rights reserved

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