Carbon offsets company CO2 Australia has emerged as the biggest winner in round one of Queensland's Land Restoration Fund, receiving $33.63 million out of $91 million awarded.
A global nature and carbon alliance that includes BHP, BP, Chevron and Woodside today suggested the Australian government underpin a new public-private fund investing in regional projects.
Companies including AGL, Veolia and LMS that earn millions of ERF dollars by generating electricity from landfill gas have won a significant concession from the federal government.
Carbon abatement from projects with major environmental and social benefits will be purchased at more than twice the ERF auction price, under contracts being negotiated by the Queensland government.