Western Australia now owns and trades carbon credits with the international community
Seen in the Avon valley Advocate in Western Australia: Western Australia now owns and trades carbon credits with the international community
A CELEBRATION last Tuesday marked the first signing of a carbon credit agreement between Koorda farmer Gerry Pauley and investors from the Kansai Electric Company.
The historic signing comes after the State Government passed legislation for individuals to ‘own’ carbon credits under the Kyoto Protocol.
Carbon credits represent a ‘bank’ of environmental ‘points,’ which are used to offset fossil fuel production, which is damaging to the environment.
They can be traded internationally, and are valuable to signatories to the Kyoto Protocol.
I am not sure what legislation was actually needed to allow people to ‘own’ (their quotes, not mine) carbon credits - Carbon Planet has been retailing carbon credits in the form of NGACs for about a year now. - DS
Technorati Tags: Australia, carbon credits, emissions trading, Kyoto Protocol, politics
