With New Zealand less than three weeks away from a major expansion of its trading regime, ASX-listed carbon forest sink company CO2 Group today announced a partnership with two NZ businesses that will hold trading rights to five million NZ emission units by the end of the year.
Indonesia, Papua New Guinea and Australia are among about 50 nations that yesterday joined an international partnership designed to speed efforts to prevent tropical forest destruction and accelerate the expenditure of about A$4.6 billion pledged for tropical forest protection.
There are 'legitimate concerns' about the effect of native vegetation laws on farmers, a Coalition-chaired Senate inquiry has concluded, with Nationals Senate Leader Barnaby Joyce using the findings to attack the NSW Government over its latest compliance efforts.
The National Farmers Federation, ACCI and the Minerals Council have all welcomed Prime Minister Kevin Rudd's decision to put the CPRS on hold, but others warn of investment uncertainty.
Unless or until Australia has an emissions trading scheme, the government should specify that a proportion of its emissions reduction target must be met by investing in tropical forest retention programs, says a carbon policy expert.
MBD's Tony St Clair says his business has deals in place for ponds at three coal-fired power plants to prove algal sequestration works, that it will suit other large emitters and that many companies are already clamouring to trial its algae-based oil and meal.
Farmers have 'footed the bill' for Australia's carbon reductions and should be fully compensated for government interventions that affect their property rights, National Farmers Federation president David Crombie said today.