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ARTICLE · 20 JULY 2009

Seeing The Wood For The Trees: A Look At Recent Forestry Amendments To The CPRS

Clayton Utz
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The proposed amendments to the CPRS Bill in relation to forestry could mean more commercial flexibility in dealing with carbon sequestration rights arising from forestry projects and a streamlined integration of forestry into the CPRS.

AustraliaEnvironment
John Clayton
John Clayton
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Key Points:
The proposed amendments to the CPRS Bill in relation to forestry could mean more commercial flexibility in dealing with carbon sequestration rights arising from forestry projects and a streamlined integration of forestry into the CPRS.

In May 2009, the House of Representatives passed changes to the CPRS Bill 2009 ostensibly in response to feedback from stakeholders and as a result of the global recession, including amendments dealing with forestry.

This article takes a short look at some of the forestry amendments.

Scheme in a nutshell

The CPRS as it is currently proposed establishes a mechanism whereby eligible reforestation projects can participate in the CPRS and earn Australian Emissions Units (AEU). There are a number of steps which need to be satisfied in order to participate in the CPRS:

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