Wellington, Feb 10 NZPA - State science company Landcare says its carboNZero programme for the reduction and mitigation of greenhouse gas emissions is now actively managing 5.57 million tonnes of carbon dioxide -- equivalent to 7 percent of the nation's greenhouse gas inventory.

The certification programme was the first in the world to gain accreditation status under the auspices of the International Accreditation Forum, company chairwoman Jo Brosnahan told the science and education select committee at Parliament today.

CarboNZero's business in measuring greenhouse gas emissions showed a 76 percent growth in revenue and a 25 percent growth in client numbers, and won several business awards, during 2009.

Replying to questions from MPs about plans for CarboNZero and a separate successful subsidiary, Sirtrack Ltd -- which manufactures electronic equipment for tracking wildlife -- Ms Brosnahan said Landcare and its Government shareholder had to balance whether it grew commercial offshoots with its own cash, or got in a partner to help.

But she noted measuring the rate of return on investment put a focus on whether the company had correctly developed its core business, which would allow for some future discussion about outside investment.

Chief executive Warren Parker said one risk of relying on internal finance was that it meant the company leaned towards being conservative, when the nation's economy needed investors willing to take on risk.

The carboNZero programme was shaping the market in which it operated, with strong international interest attracted through its UK licensing partner, Achilles. Ms Brosnahan said this company was essentially marketing carboNZero in Europe -- something that Landcare could not do by itself.

Sirtrack had a record year for sales of hi-tech products, and received two business export awards.

Landcare had total assets of $48.4 million in 2009, with a 5.3 percent return on assets ($1.4m net profit after tax), and paid the Government $120,000 -- its first dividend payment since 2001 -- from revenue of $60.5m. Its shareholders funds were $27.9m (58 percent) and liabilities of $20.4m (40 percent).

Dr Parker said the Government's proposed "global alliance" on the science of greenhouse gas emissions in agriculture would provide leverage for Landcare and other New Zealand researchers focusing on climate change.

He said there could sometimes be greater benefits in an "open source" approach to research, with collaborators sharing information and bringing a greater effort to bear on a problem, rather than a small team keeping its information "in house".

The idea of bringing the world's best capabilities together on greenhouse gas research offered opportunities for the nation, especially because of the high proportion of emissions generated on its farms.