Carbon credits for farming endorsed

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The Independent Online

Australia's parliament yesterday endorsed the world's first national scheme that regulates the creation and trade of carbon credits from farming and forestry, complementing government plans to put a price on carbon emissions from mid-2012.

The laws, the first major bills passed by the government with the Greens' support in the Senate since the Greens took the balance of power on 1 July, are a precursor to the carbon-price legislation to be put before parliament later this year.

Land use including agriculture accounts for 23 per cent of Australian emissions. REUTERS