Summary/Abstract
The sequestration of carbon through the planting and preservation of forest and vegetation stocks, or biosequestration, is likely to play a significant role in national efforts to reduce Australia’s net greenhouse gas emissions. This may be achieved through a combination of prohibitions and incentives for the forestry and agricultural sectors under the future Federal Government Carbon Pollution Reduction Scheme (‘CPRS’). In addition, the ratification of the Kyoto Protocol to the United Nations Framework Convention on Climate Change by Australia has created a number of opportunities for Australian entities to obtain benefits for biosequestration activities under the international climate change regime. The implementation of these biosequestration projects raises a number of legal questions regarding the processes for the generation of credits from such activities and the legal interactions between the varying forms of carbon rights and carbon permits.