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CO2 wins watchdog nod
CO2 wins watchdog nod

Perth-listed carbon farming company CO{-2} says it is on target to begin selling carbon credits in July after receiving a green light from an industry regulatory body set up by the Federal Government.

The company announced yesterday that its reforestation and afforestation methodology had been approved by the domestic offsets integrity committee.

The methodology determination will allow CO{-2} to register about 39 million trees planted over more than 26,000ha under the Government's carbon farming initiative.

"We now have to quantify how much carbon is in the forests and have that audited by a Government-appointed third party auditor," CO{-2} chief executive Andrew Grant said. "Then our credits are created and they can be traded in the market."

CO{-2} has tree plantings in four States on behalf of its clients, which include major companies such as Woodside and Qantas.

CO{-2}'s shares were unchanged at 10¢.