Australia: Carbon Credits from Farming and Forestry
August 25, 2011
Australia’s parliament has passed bills allowing the creation of carbon credits from farmland and forests, known as the Carbon Farming Initiative (CFI).
Reuters reports that the CFI is a world first, creating a comprehensive national scheme to regulate carbon from forestry and agriculture.
The CFI is also important as an important component of a broader package of climate laws and policies, including a carbon tax, support for renewable energy and energy efficiency.
A report on Australia’s emissions (which are updated quarterly) can be found here.
