Energy retailer Origin Energy has announced that it will commit to an agreement with carbon credit supplier Carbon Conscious, for the first major major carbon credit investment since the passing of the Federal Government’s carbon pricing mechanism.
Under the agreement, Origin has committed to exercising the 2012 component of the commercial forestry options it was granted in a 2009 carbon plantation contract, and to bring forward the 2013 plantings into the 2012 planting season.
As a result, Carbon Conscious will plant approximately 10 million native Mallee Eucalypt trees in Western Australia in the 2012 planting season, which in turn represents a fivefold increase on the previously anticipated planting for 2012.
Origin retains approximately $163 million worth of commercial forestry options, which can be exercised for the forthcoming three planting seasons between 2013 and 2015.
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