Forest Products Commission pull out of carbon market
In a media statement released today, the WA State Government announced that the Forest Products Commission (FPC) will close down its carbon division.
The decision, announced by the Forestry Minister, Terry Redman, will doubtless be well received by the other main players in Australia’s developing forest carbon sector. Companies like Carbon Conscious , CO2 Australia and Rewards Group have been arguing for a while now, and with some justification, that a State Goverment owned entity should not be competing against the private sector in the carbon space.
FPC had previously completed deals with Synergy (5000 hectares) and BP but uncertainty over a start date for emissions trading had already forced an organisation restructure late last year.
The immediate future of existing contracts is not made clear in the statement, however FPC “will be exploring ways it can transfer this work to the private sector” according to Minister Redman.
Tags: Biosequestration, carbon, cprs, ETS, forestry, fpc, Terry Redman
