CO2 Group greenhouse gas abatement deal

PERTH-BASED listed environmental services company CO2 Group has secured a greenhouse gas abatement deal considered the largest sequestration agreement brokered under the New South Wales Greenhouse Gas Abatement Scheme. The contract, which also involves Australian energy services corporation Country Energy, will establish up to 30,000 hectares of Mallee eucalypt plantings in the Rivernia and south western regions of NSW. CO2 says the project, to commence in 2006, will be integrated with existing agricultural systems and within the rules of the NSW Greenhouse Abatement scheme and will be in place for up to 100 years.

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