Image for Carbon offsets: This important AFR article

An Australian Financial Review article (from today’s Fin Review –page 9*)  is very significant.

Anyone interested in conservation and the future of Tasmania’s old growth forests should be aware of the potential implications for Tasmania outlined in this article.

If trees that are earmarked to be harvested, are saved from harvesting, and are officially/formally treated as “credits” to offset CO2 pollution elsewhere, they can now be valued financially thanks to a price on carbon-even if they are to be conserved (ie remain non extractive).

It’s early days and not quite that simple because of uncertainty in measurement and verification of actual carbon offset, but this field is progressing (for example at UTAS).

Could this be what might underpin a future bailout of the forestry industry, or even the current talks on ending old growth logging? What has Forestry Tasmania got to say about our trees potentially being sold into a national or international offsets scheme?

Food for thought and worthy of debate ...

*AFR has a paywall