Tricorona

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Niels von Zweigbergk
CEO

Welcome to Tricorona's website. Here you can learn more about our company, our business concept and our role in the climate economy. You can also purchase carbon offsetting.

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2009-09-14

Comments regarding temporary suspension of SGS

On 11 September, the UN's Clean Development Mechanism Executive Board decided to suspend with immediate effect the British classification society SGS UK Ltd's (SGS) accreditation for validation and verification of CDM projects.

SGS is one of several independent auditors (Development Operational Entities, DOEs) used by Tricorona to validate and verify the issuance of Certified Emission Reductions (CERs) from its portfolio of CDM projects. Tricorona has engaged SGS for the following projects:

3 projects that are currently under verification amounting to a total of 300,000 CERs.
4 projects that are currently under validation and are expected to be registered during 2010 amounting to a total of 3.8 million CERs.

Tricorona's portfolio as of 30 June consisted of CDM projects corresponding to a volume of 55.1 million CERs for delivery through 2012.

”We judge the effect to be small in relation to our total portfolio and expected deliveries during 2009. The effect of the suspension may entail some delay in the application process for certain projects, depending on how quickly we are able to replace SGS as an independent auditor. We have already taken steps to minimize any possible effects," says Tricorona's CEO Niels von Zweigbergk.

Stockholm, 14 September 2009

Tricorona AB (publ)

For further information please contact:

Niels von Zweigbergk, President and CEO
Phone +46 (0)8 506 885 51, +46 (0)70 859 35 00.