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First forest sink project to become greenhouse friendly.



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MEDIA RELEASE The Hon Malcolm Turnbull MP Minister for the Environment and Water Resources

T30/07 Monday, 26 March 2007

FIRST FOREST SINK PROJECT TO BECOME GREENHOUSE FRIENDLY

The first forest sink abatement project to be accredited through the Australian Government’s Greenhouse Friendly™ programme has been announced today.

Minister for the Environment and Water Resources, Malcolm Turnbull said that CO2 Australia Limited will plant mallee eucalypt trees to remove carbon dioxide, the most abundant greenhouse gas, from the atmosphere. The carbon dioxide absorbed by trees will be able to be sold to businesses to offset their greenhouse gas emissions.

“Planting trees to obtain offsets for businesses is a welcome addition to the range of approved abatement projects under the Australian Government’s Greenhouse Friendly™ initiative. These trees will deliver a benefit both for our climate and the condition of our land,” Mr Turnbull said.

Greenhouse Friendly™ is an Australian Government initiative that encourages companies to invest in greenhouse emissions reduction projects, and provides businesses with the opportunity to offer carbon neutral products and services.

The programme allows forest sink projects, which comply with strict eligibility criteria, to create and sell greenhouse gas abatement nationally. CO2 Australia Limited joins other abatement projects including energy efficiency, waste diversion and recycling, and avoided deforestation, as part of the Greenhouse Friendly™ programme.

C02 Australia is the ninth certified Greenhouse Friendly™ abatement provider. The Greenhouse Friendly programme is part of the $31.6 million Greenhouse Challenge Plus programme which is a partnership between the Australian Government and industry to help reduce Australia’s greenhouse gas emissions.

CO2 Australia managing Director Andrew Grant said his company recognised more organisations were looking at how they could minimise their greenhouse gas emissions.

“We chose to be certified under the Greenhouse Friendly™ initiative because it is administered by the Australian Government and it has rigorous independent certification and validation processes,” Mr Grant said.

“Purchasers can be confident that our abatement is 100 per cent valid because of ongoing monitoring by independent auditors.”

Mr Turnbull said CO2 Australia Limited could now expand its operations to help satisfy the growing demand for offsets from companies and households wanting to be carbon neutral.

For more information: www.greenhouse.gov.au/greenhousefriendly

Media Contact: 02 6277 7640