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Buddle Findlay advises on establishment of Drylandcarbon fund

21 March 2019

Buddle Findlay advised boutique investment banking firm Lewis Tucker on the establishment of Drylandcarbon, a limited partnership established to invest in a geographically diversified forest portfolio to sequester carbon.  NZX listed companies Air New Zealand, Contact Energy, Genesis Energy and Z Energy are the investors in the fund.

Buddle Findlay lead partner Steve Nightingale said “It is great to have played a part in establishing the fund, which is well placed to make a real contribution to New Zealand’s emission reduction objectives”.

Drylandcarbon will target the purchase and licensing of marginal land suited to afforestation to generate NZU carbon credits from forestry.  These credits will support the investors to meet their annual requirements under the New Zealand Emissions Trading Scheme.

Drylandcarbon CEO, Anthony Beverley, says the partnership is a terrific example of Kiwi companies coming together for a greater good, and that climate change mitigation and commercial benefit are not mutually exclusive.

Steve was assisted by senior associate Rupert Rouch, public law partner Susie Kilty, tax partner Tony Wilkinson and other specialists.