Ten million Mallee trees will be planted on marginal cropping country in Western Australia next year. Petroleum giant BP has signed a $2.5 million deal with carbon sequestration company Carbon Conscious Ltd to plant 10,000 hectares of land to trees to offset its carbon emissions. The deal will go ahead despite there being no federally agreed Carbon Pollution Reduction Scheme.
Peter Balsarini, CEO of Carbon Conscious Ltd, says farmers who lease land for trees can either take a percentage of the carbon credits or a cash payment. “We think that somewhere in the order of $500 to $1500 a hectare for this type of land,” he says.
“That’s a fairly broad range, but it’s also a low range in terms of the types of country that we’re looking to unlock.”
ABC News http://www.abc.net.au/rural/news/
Thursday, 15/10/2009
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