Green Markets

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Westpac prepares for trading: markets carbon trades to land holders

Posted by gmarkets on 19 September, 2007

Westpac’s head of Regional and Agribusiness Banking, Graham Jennings, said the index results showed some farmers were concerned about the cost and land management implications of carbon trading, reported Queensland Country Life (31/8/2007, p.23).

Westpac keen as mustard: Jennings said Westpac, a member of the newly formed Agricultural Alliance on Climate Change, was keen to work with the agribusiness sector on best practice approaches to sustainability. Westpac Agribusiness specialists are out in the field engaging with their customers on opportunities relevant to their businesses.

Westpac: Farmers can win with carbon trading: “Earlier this year, Westpac announced a partnership with Landcare Australia to establish CarbonSmart, an innovative carbon trading pool and brokering service. We’re also actively involved in research commissioned by the Agricultural Alliance on Climate Change. We want to show farmers that carbon trading schemes can be more than just a burden on their land management practices, but may actually help them to reduce their burden around land management.”

Mixed farming businesses most informed: Respondents’ awareness of carbon trading differed depending on their industry sector. Mixed farming (91pc), beef (85pc), sheep (84pc) and cropping (84pc) business operators had the greatest awareness of a proposed carbon trading scheme, compared with agribusiness-related manufacturing and processing business owners (56pc).

Queensland Country Life, 31/8/2007, p. 23

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