QUEENSLAND landowners may soon be able to use trees and other
vegetation on their land to profit from the anticipated worldwide
carbon credit trading scheme, although the status of the Kyoto
agreement was uncertain at the time of writing. The State
Government is preparing the Forestry Act Amendment Bill 2001 to
allow commercial dealings in carbon credits.
Trading will involve carbon credits and emissions permits, with
credits comprising a set tonnage of carbon to be removed from the
atmosphere by a given area of trees and other vegetation. Permits
will be allocated to greenhouse gas emitters.
However, carbon credits are likely to be generated only in forests
planted since 1990 on land that had been cleared for agricultural
use
