word on the street is it is not all it seems in PNG.
Massive problems within the government - new department of climate change, parliament suspended and still no credits.
What is the situation with the ownership of the forestry concession where the Kammula Dossa ( sorry about the spelling) is located. I have heard that the government will have to give permission and as mentioned that is in disarray there is a legal battle ongoing over who owns the land there is a huge backlog in verification on the VCS process Other companies are selling ecosystem services under the CCBA standards and have already received payments before final verification.
A colleague told me that after months of promising from Green Collar for project development and financing nothing was delivered on an unrelated project( this cannot be verified and should not be taken as a dig at GC as it is probably the fallout in the market)
Wasn'T this stuff meant to be finalised ion June? What is the companies position? Have they secured forward sales for the credits?
I hold no stock and this is just my opinion DYOR and don't necessarily believe anything I say.
Why are they not investing in Australian projects where there is no where near the problems. I saw a presentation form a very high level member of the DCCEE who said we can do REDD projects in AUstralia ( not sure about that some issues with additionality and proving mosaic or frontier deforestation). Many of our buyers are screaming out for Aussie projects for NCOS. The PNG stuff has a bad feel for the buyers due to the aforementioned problems and the perceived (or real) corruption in PNG.
