The results of a Tasmanian Forest Carbon Study have been released by CO2 Australia, a member of CO2 Group.
The Tasmanian Government through the Tasmanian Climate Change Office commissioned the carbon study. The objective of the study was to assess the carbon stock levels in forests in the state. As part of the study, over 3 million hectares and 95 varieties of forests had been covered.
The carbon study explored the impact of changing land use practices and forest management on carbon stock levels and the level of carbon reduction due to those changes. It also estimated the commercial value of different carbon storage levels. It also provided an analysis describing the opportunities to make money from carbon sequestration and prevented emissions through a variety of local and international carbon trading programs.
The study discovered that present carbon stock level in Tasmania’s forests is approximately 3-4 billion tons of carbon, a value six folds higher than the amount of average greenhouse gas emissions in Australia. It was found that a greenhouse gas reduction valued at tens of millions of dollars may be possible in the future through varied land use and forest management programs. The report concluded that the growth and advancement in the carbon markets offers exciting opportunities for commercial carbon forest projects in the state of Tasmania.
The Tasmanian Government must be appreciated for conducting such a study, according to Andrew Grant, Chief Executive Officer at CO2 Australia. The first-of-its-kind study in Australia provides a comprehensive carbon accounting system, which can be utilized for large-scale and challenging carbon accounting for existing and future forest systems.
CO2 Australia is the nation’s largest developer of reforestation-based carbon projects and has developed over 39 million trees or 26,000 ha through dedicated carbon plantings.