Lismore joining the carbon credit trade
By RENEE REDMOND
A LISMORE company has become one of the first in the world to enter a new trading system aimed at stopping global warming.
Lismore's Ecotech Group is one of only three companies in the world with the right to trade carbon credits under the system laid out under the Kyoto Protocol.
The system is the foundation of international efforts to stop global warming by reducing carbon dioxide emissions.
Lismore president of the Ecotech Group, Adrian Joseph, said one of Ecotech's subsidiary companies, Australian Forest Corporation, was accredited by the Independent Pricing and Regulatory Tribunal NSW last week.
Mr Joseph said this meant the group would be able to help local landowners earn carbon credits by planting trees on their land.
He said carbon credits, calculated on the amount of carbon stored in trees, could be purchased by industries that emitted large amounts of gas to offset the environmental damage.
"There's legislation in NSW which penalises these companies, but if the companies buy the credits they're helping the environment and avoiding the fines," he said.
"The carbon credit is generated through reforestation. If a farmer has a patch of unproductive land he could plant trees on it and trade carbon credits as a source of income."
Mr Joseph said the aim was to get a net loss in the amount of carbon dioxide equivalence in the atmosphere.
"It's the first time in history you can do something right for the environment and be commercially viable out of it," he said.
Mr Joseph said Lismore was chosen for the office because of the community's high level of environmental awareness.
"Eventually this will become our national office and hopefully our international office too. We have a staff of about 14 at the moment, but we intend to grow to a staff of 100 over time.
"Our long-term aim is to help the economy of Lismore, as well as the global environment."
To find out more visit www.ecotechgroup.com or if you are interested in carbon credits contact: 66216666.