More than 10,000 hectares of mallee eucalypt trees are being planted as part of one of the largest carbon forestry projects in Australia. Sources: Timberbiz, Stock Journal
Carbon Conscious, a developer of carbon forestry projects, says due to timely rain, carbon forestry planting is now underway across the Western Australian wheat belt.
Dan Hastie, a 36 year-old farmer from Moora has been appointed plantation manager for Carbon Conscious. His team will co-ordinate the planting of management of around 10 million mallee eucalpts. This brings the number of plantation managers employed by Carbon Conscious in WA to three.
Carbon Conscious says it has received a substantial increase in new client enquiries from organisations facing major carbon liabilities under the Clean Energy Act 2011, as well as from New Zealand companies with liabilities under the New Zealand Emissions Trading Scheme (ETS).
In January Carbon Conscious released a profit guidance to the market of $3.5 million Net Profit After Tax and the company’s, says it remains “on track” to achieve this result.
“Carbon Conscious has received a client payment of approximately $5 million for planting commencement and will receive a further $5 million on completion of planting,” said Peter Balsarini, chief executive officer of Carbon Conscious.
“Rainfall in key planting areas has expedited site preparation and more than 10 million seedlings provided by 7 local nurseries are scheduled for delivery over the next 8 to 10 weeks.”
According to Balsarini, at the completion of the 2012 planting program, Carbon Conscious will have approximately 19,000 hectares of plantings under management across Australia and New Zealand.
“Ongoing contract revenue associated with existing projects will exceed $43 million over the next 15 years. We are seeing growing interest from a range of sources seeking our internationally compliant carbon credits,” he said.