The expanded agreement will see CO2 Australia establish plantings in Western Australia this financial year. The plantings use mallee eucalypt trees to create a permanent forest carbon sink that will capture carbon over its 30-year life.
The forest carbon sink being developed by the company will be Kyoto compliant and established in accordance with draft CPRS legislation.
The company is a founding signatory of the climate registry in the US and also participates in the carbon disclosure project. In Australia, Newmont has been reporting its Australian carbon footprint through the Greenhouse Challenge Plus program since 1998.
Andrew Grant, CEO of CO2 Group, said: “CO2 Australia has a proven track record of delivering carbon sequestration projects. We are the leading service provider in the Australian market and have delivered consistent, quantifiable carbon offsets through the planting of trees on the scale required by large emitters. We commend Newmont’s display of environmental leadership in the face of uncertainty regarding the Carbon Pollution Reduction Scheme (CPRS).”
Tim Netscher, senior vice president of Newmont Asia Pacific, said: “CO2 Australia is an accredited abatement provider with experience in providing carbon solutions for large businesses like ours. The carbon offset project with CO2 Australia is one part of Newmont’s approach to addressing climate change. Newmont has developed a comprehensive climate change strategy to better manage and understand our emissions, and we continually evaluate energy generating and efficiency solutions across the company that range from fuel switching, solar power and mine fleet technology innovation.”
