Wellington, Nov 20 NZPA - A leading player in the international carbon market has shelved plans to set up in this country.

The move by EcoSecurities Group follows a decision by the new Government to review the Emissions Trading Scheme, with Prime Minister John Key also indicating a carbon tax could get support.

EcoSecurities had planned to launch the business, in conjunction with Simon Young and his company the Karo Group, this week, The New Zealand Herald reported today.

It would have been both a buyer of forest sink credits and a seller of secondary CERs, which are high-quality carbon credits generated by United Nations-approved climate-friendly projects in developing countries.