CO2 to offset Qantas carbon emissions

CO2 Group has secured a new contract with Qantas Airways to provide its carbon offset needs in accordance with Qantas's 'fly carbon neutral' program.

The voluntary carbon offset program gives passengers the option to offset a proportionate amount of the emissions produced by their air travel.

The contract involves the supply of more than 162,000 tonnes of verified carbon offsets from government-approved domestic and international projects, such as protecting native forests, clean energy programs and sustainable cooking fuels.

"This is a very significant contract for CO2 Australia and we are delighted to support Qantas with the 'fly carbon neutral' program. CO2 Australia has a rich history with Qantas, originally offsetting its corporate emissions when its voluntary carbon offset program was first launched," CO2 chief executive Andrew Grant said.

CO2 believes increased demand for the supply of carbon offsets will continue to grow significantly over the next 12 months.

Shares in CO2 rose 6 per cent to 7 cents, as of 930am, WST.