Carbon Conscious Signs Deal With Perenia Under Carbon Farming Initiative

Carbon Conscious Ltd., a carbon forest sink developer, said Perenia Pty contracted it to supply 10,000 future internationally exportable Australian government backed assigned amount units, or AAUs.

Carbon Conscious will plant about 50,000 to 70,000 mallee eucalypt trees on marginal Western Australian farmland and deliver AAUs to Perenia under the Australian government’s Carbon Farming initiative, the company said in a statement to the stock exchange today.

The parties agreed a delivery price from A$16 per unit for the transaction, which Carbon Conscious said was the first of its kind in Australia.

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net