CO2 Australia
| CO2 Australia | Type: Public
Stock Symbol: COZ Stock exchange(s): ASX Founded: 2004 Headquarters: Melbourne, Australia Location: Australia Employees: 31 in-house professionals located across six offices in New South Wales, Victoria and Western http://www.co2australia.com.au. |
CO2 Australia Limited (CO2 Australia) is Australia's largest provider of dedicated carbon sink plantings, established and managed for intended registration under formal emissions reduction schemes. It is the main operating entity of CO2 Group Limited (CO2 Group), which is a public company listed on the Australian Stock Exchange (ASX).
Dedicated forest carbon sink plantings build a Carbon Bank for the future, allowing organisations to meet emissions management or environmental obligations. CO2 Australia manages over 12,500 hectares of carbon plantings across New South Wales, Victoria and Western Australia.
A fully accredited provider of carbon permits, CO2 Australia became the first reforestation company to be accredited under the NSW Greenhouse Gas Abatement Scheme (GGAS) in 2004. CO2 Australia is a provider for organisations seeking to manage their greenhouse gas emissions profile, including under the Federal Government’s Carbon Pollution Reduction Scheme (CPRS). Credits under this scheme are fully auditable.
CO2 Australia works closely with the farming community across the Australian wheatbelt to integrate the mallee environmental plantings into existing farming and grazing systems.[1] For a property to be considered suitable for use by CO2 Australia is must comply with the Kyoto Protocol, cleared of forest prior to 31 December 1989. Eligible forestry includes freehold land that receives a minimum of 350 millimeters average rainfall per annum that also provides over 50 hectares for mallee plantings.
In August 2012 CO2 group announced a takeover bid for Western Australian Resources Limited, a company involved in large scale aquaculture. The takeover was finalised the following month. In May 2013 WARL secured properties in Northern Australia to initiate a large scale aquaculture project known as Project Sea Dragon.
CO2 Australia Carbon Sequestration Program[edit]
Carbon sequestration [2] is the process whereby trees absorb carbon dioxide in the roots, trunk, branches, twigs, bark and leaves as they grow and release oxygen back into the atmosphere. CO2 Australia makes arrangements to protect the trees for at least 100 years. Whilst the company boasts the vast number of hectares planted it is extremely reticent to expose where these plantations are exactly. the landowners are isolated from the possibility of exchanging views with each other as there is no way of finding out who these plantation agreements are with. as a landowner this is not a satisfactory position.
The CO2 Australia Carbon Sequestration Program improves biodiversity and reduces the risk of soil erosion and salinity. The program involves establishing long-term (greater than 100 years) plantings of mallee eucalyptus for the purpose of generating carbon permits, at a commercial scale.
CO2 Australia has conducted extensive research and development on the performance of the native mallee eucalypt trees used in carbon plantings. The mallees are long lived and drought-tolerant, can survive intense fires and develops an extensive root system, allowing for a large, protected, underground carbon store. Through selective breeding, CO2 Australia has produced high-performing seed lines, developed to have rapid rates of growth and carbon sequestration.
Company Background[edit]
In 2004, CO2 became the first reforestation company to be accredited under the New South Wales Greenhouse Gas Abatement Scheme (GGAS). From 2004 to 2005, CO2 Australia became a supplier of carbon credits for Origin Energy and Country Energy, and established forest carbon sinks for Eraring Energy in Australia.
CO2 Australia entered a joint venture with Macquarie Bank Limited to establish and manage a forest carbon sink in 2006. During the same year, CO2 was engaged by the Victorian Department of Sustainability and Environment to undertake plantings. CO2 Group also became the first Australian Associate Member and a listed Offset Provider under the Chicago Climate Exchange (CCX). CCX operates North America’s only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide.
In 2007, CO2 Australia became the first reforestation company to become an accredited abatement provider under the Australian Government’s Greenhouse Friendly program. In the following year, CO2 Australia announced projects for INPEX/Total Browse JV, Newmont Mining Corporation and Rip Curl. CO2 Australia also has contracts to establish and manage forest carbon sinks on behalf of Qantas Airways, Woodside Energy, the City of Sydney, EDS Australia and the Big Day Out. In 2010 CO2 Australia will again sponsor the world's longest running and most prestigious surfing contest, the Rip Curl Pro, for their Bells Beach event [1].
CO2 Group Limited[edit]
CO2 Group Limited is a public company listed on the Australian Stock Exchange (ASX). The company specialises in the commercialisation of business opportunities within the environmental services sector. The formation of CO2 Australia, a Socially Responsible Investment Company, is CO2 Group’s first major initiative.
Footnotes[edit]
- ↑ Courtney, Pip (Reporter). Landline [Television production]. Australia: ABC News http://www.abc.net.au/landline/content/2008/s2729887.htm
- ↑ Kapambwe, M; Keenan, R: "Biodiversity Outcomes from Carbon Biosequestration". Department of Forest & Ecosystem Science, Melbourne School of Land & Environment: The University of Melbourne, Australia, 2009
References[edit]
- Carbon neutrality
- Garnaut, Ross (2008). Garnaut Climate Change Review. Cambridge University Press. [2] Retrieved 2009-11-19.
- Allayannis, George S., Co2 Australia—The Case for Carbon Credits. Darden Case No. UVA-F-1585. Available at SSRN [3]
- Ernst & Young, 2009 Entrepreneur of the Year Award: Andrew Grant, CO2 Group [4] Retrieved 2009-12-7.
- Carbon Expo (2009), "Carbon Expo Australasia 2009 - CO2 Australia" [5] Retrieved 2009-12-7.
- Carbon Offset Guide Australia. "CO2 Australia" [6] Retrieved 2009-12-7.
- Kapambwe, M; Keenan, R (2009). "Biodiversity Outcomes from Carbon Biosequestration". Department of Forest & Ecosystem Science, Melbourne School of Land & Environment: The University of Melbourne, Australia. [7]
- Sky Business News (7 April 2010). "CO2 Australia CEO Andrew Grant Interview on Sky Business News" [8]
External links[edit]
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