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Carbon sink forests off and running.

- Thursday, October 15, 2009

Major emitters are already moving, in anticipation of the Australian Government's emission trading legislation, to secure carbon sink forestry opportunities. Origin Energy kicked off the trend in WA last month, and now media reports suggest that BP has followed suite.

The Sydney Morning Herald  reports that BP has taken out an option to plant up to 100 square kilometres of land in WA to trees over the next fifteen years. The deal follows on from an earlier agreement negotiated by Origin Energy to plant 35 million trees on farm land in Western Australia. The nature of the CPRS legislation is such that tree planting will become an early option for companies potentially facing emission costs early in the life of the scheme, when it is unlikely that alternative low-emission technologies will be readily available. While some revegetation could be advantageous in some regions, these developments do raise questions about the longer term implications of such developments, especially given that the trees will need to remain in place for 100 years.   
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