Carbon Sequestration and Accounting
12
business points
Hi, I am wondering if there is any mechanism available in Australia as yet to account for carbon sequestration? We have purchased land as a carbon sink and wonder whether accounting practices or government have caught up with this sort of thing yet? I gather the CPRS would have handled this type of thing quite well......Hope somebody can assist.
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864
business points
Hi Phillip,
There are a few resources to look at.
The Department of Climate Change has a National Carbon Accounting Toolbox. This tool enables land managers to account for changes in emissions resulting from changed land management actions, such as forest establishment and harvesting, soil cultivation, fire management and fertiliser application. See: http://www.climatechange.gov.au/government/initiatives/ncat.aspx
Landcare CarbonSMART could also assist you to account for, and sell carbon on you property…See: http://www.carbonsmart.com.au/
The Department of Climate Change has info on carbon sinks and tax deductibility (which may also be of interest) which also has a link to guidelines for the establishment of trees for carbon sinks. See: http://www.climatechange.gov.au/government/initiatives/tax-deduction.aspx
Yes, the CPRS would have handled land-based carbon sinks – for a brief summary of the issues and operation under the CPRS see the analysis by Clayton Utz at: http://www.claytonutz.com/publications/newsletters/carbon_insights/20090...
I hope that helps.
