11/08/2011 | Press release

ASX Announcement 157 - Senate Passes Clean Energy Act 2011

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8 November 2011
Company Announcements Office
Australian Securities Exchange
10th Floor
20 Bond Street
SYDNEY NSW 2000
ANNOUNCEMENT NUMBER 157
Via: ASX Online
Number of Pages: 2 (including this page)
ASX Code: CCF
Dear Sir

CARBON CONSCIOUS EMBRACES AUSTRALIA'S CLEAN ENERGY FUTURE

HIGHLIGHTS

• Carbon Conscious welcomes passage of Clean Energy Act

• Legislative uncertainty removed

• New business pipeline strong

Carbon Conscious Limited (ASX Code: CCF) ("Carbon Conscious" or "the Company"), Australasia's leading developer of forestry plantation projects to deliver carbon offset credits, today warmly welcomed the passage of the Clean Energy Act 2011 through the upper house of the Australian Parliament.
The passage of the legislation has removed the legislative uncertainty surrounding investment in
Australian carbon farming and bio-sequestration projects under the Carbon Farming Initiative.
Mr Stephen Lowe, Executive Chairman of Carbon Conscious, said: "The passage of the Clean Energy Act 2011 has removed uncertainty from Australia's emerging carbon economy and the carbon farming sector and will no doubt unleash significant transactions in carbon bio-sequestration projects in Australia. Carbon Conscious anticipates the industry will embrace the opportunities presented and we will see a number of deals announced as a consequence of the passage of these laws."
Carbon bio-sequestration offers the most attractive means for Australian businesses to offset their carbon liabilities because it utilises proven technology, has a very low project risk and is scalable to meet the needs of businesses. As the industry matures, the size and value of such investments are expected to grow significantly. This is a new multi-billion dollar Australian industry in its infancy that will attract substantial investments from both Australian and international companies.
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has estimated that with a
$20 per tonne price for carbon, carbon bio-sequestration projects have the potential to sequester
350 million tonnes of carbon dioxide equivalent per year by year 2050, which equates to an abatement potential of $7 billion per annum. The Clean Energy Act mandates a starting price of carbon at $23 per tonne. The total value of Carbon Conscious' current commercial forestry contracts is worth A$45 million with a further A$190 million under option.
Carbon Conscious operates plantation forests in Australia's wheatbelt region and in New Zealand, utilising low productivity or degraded farm land in low rainfall areas to plant native tree species. The trees are not harvested and therefore play an important role in reversing the devastating long-term impact of salinity and excessive land clearing.
CONTACT: MEDIA
Mr Stephen Lowe (Executive Chairman) Mr Tony Dawe
(08) 9287 5600 Professional Public Relations (PPR)
slowe@carbonconscious.com.au Tel: +61 8 9388 0944/ 0405 989 743
Carbon Conscious Ltd - Background
Carbon Conscious creates large scale carbon estates to produce carbon offset credits for the Commonwealth Government's Clean Energy Act 2011 and under the Carbon Farming Initiative (CFI), by planting Mallee Eucalypt trees - a native species perfectly adapted to the growing conditions of the Australian wheatbelt.
Carbon Conscious Limited was listed on the ASX in May 2008, and currently has over 8,000 hectares of Mallee Eucalypt trees under management in Western Australia and operates extensive plantations in New Zealand. For more information, see www.carbonconscious.com.au
Yours faithfully
Peter Balsarini
CEO & Executive Director
Carbon Conscious

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