Prospects for Australian emerging industries
Emerging industries play an important role in the Australian agricultural landscape, contributing to the national economy and helping meet changing global demand. This prospectus is...
Published: 1 Jun 2001
Download report PDFDownload
Purchase a hard copy - AUD $45.00
In recent years there has been increasing international concern about the level of atmospheric gases that may increase the greenhouse effect, particularly carbon dioxide (CO2). CO2 is absorbed in the production of biomass, and so there is the possibility that emissions may be offset by storing CO2 (‘sequestering’ it) in various biological ‘sinks’. Many jurisdictions, including Australia, are contemplating markets for rights in sequestered carbon. In these markets, industries and other institutions may offset their emissions of CO2 by buying rights to the carbon absorbed in the production of biomass, chiefly timber in plantations.
“Carbon farming” is the cultivation of trees in order to sequester carbon and then to obtain tradable rights in that carbon. These rights can then be sold to emitters of CO2 and other interested parties.