Cheng Loong Corp. is Voluntary-carbon-standard Certified

Taipei, Oct. 23, 2008 (CENS)--The Taiwan-based Cheng Loong Corp., a large paper manufacturer, recently became VCS (Voluntary Carbon Standard) certified, enabling the firm to sell about 200,000 metric tons of its voluntary carbon offsets in the New York`s OTC (Over-the-Counter) market, according to company sources. Such certification makes the firm the first in Taiwan qualified to sell its carbon dioxide emission rights.

Carrying out thermal recycling to cut carbon dioxide emission in its sewage factory in Taoyuan County, northern Taiwan, and aided by the British environmental consultancy ERM Group Inc., Cheng Loong became VCS-certified without a hitch.

ERM Taiwan indicated that Asian companies can join the voluntary carbon offset market via either CDM (Clean Development Mechanism) or VCS. CDM is an agreement under the Kyoto Protocol allowing companies in countries already committed to the greenhouse gas reduction agreement to buy carbon dioxide emission rights from others and, above all, with such trading to be supervised by the UN. Taiwanese companies are only allowed to sell their carbon offsets via VCS for not being a UN member.

Cheng Loong noted that the British Ecosystem Marketplace`s report shows the global need for voluntary carbon offsets is expected to exceed 150 million metric tons this year, 10 times the corresponding figure in 2006, suggesting that Taiwanese companies should pay more attention to carbon dioxide emissions.

To effectively control carbon dioxide emission, Cheng Loong invested in a new technology in its sewage factory, turning firedamp extracted from sewage into fuel for steam boilers to achieve thermal recycling.

Noteworthy is that Cheng Loong will earn 3% real return, valued at about US$1.2 million, on the investment, based on the current voluntary carbon offset price of about US$6 per metric tons of carbon dioxide under VCS, according to ERM Taiwan.