❓ WA Parliamentary Question on Notice regarding forestry financial results, investment security guarantees, and the value of carbon sequestered in native forests under Australia's carbon trading framework. The answer provides financial figures and clarifies the lack of market value for native forest carbon credits.
AnsweredQoN 5879Legislative Council
QuestionView source ↗
(7)(a)-(d) Not applicable (8)(a)-(b) [See tabled paper no.] (c) Nil (9) No (10)(a)-(b) Not applicable (11)(a) Carbon sequestered in native forests does not have any value under Australia's carbon trading framework. (b) No work was done to develop the market for native forest-based carbon credits. Carbon sequestered in native forests does not have any value under Australia's carbon trading framework. Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on http://www.rtlib.com
AnswerView source ↗
Answered
18 September 2012
Responded by
Minister for Child Protection representing the Minister for Forestry
Response time
35 days
The financial results in (1)-(4) are interim for 2011-12 and subject to audit review.
(1) $35.8 million
(2) Operating profit after allocation of corporate overheads is $2.4 million. After allowing for biological asset valuation impacts the profit generated is $4.4 million.
(3) $47.0 million
(4) Operating profit after allocation of corporate overheads is $11.9 million. After allowing for biological asset valuation impacts the profit generated is $2.4 million.
(5) All the Investment Security Guarantees referred to in question without notice 334 on 12 June 2012 have been executed.
The quantities contained in the investment security guarantees are related to the timber quantities held under contract. These quantities are:
Contracts
Quantity under ISG
(tonnes)
Auswest Timber Pty Ltd
2770A; 2773
112,648
Hexan Holdings Pty Ltd
2777
13,160
Yornup Mill Pty Ltd
2780
6,250
Middlesex Mill Pty Ltd
2778
4,500
Nannup Timber Processing Pty Ltd
2772
26,300
Blueleaf Corporation Pty Ltd
2765; 2772
77,025
(6) No
(7)(a)-(d) Not applicable
(8)(a)-(b) [See tabled paper no.]
(c) Nil
(9) No
(10)(a)-(b) Not applicable
(11)(a) Carbon sequestered in native forests does not have any value under Australia's carbon trading framework.
(b) No work was done to develop the market for native forest-based carbon credits. Carbon sequestered in native forests does not have any value under Australia's carbon trading framework.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
(1) $35.8 million
(2) Operating profit after allocation of corporate overheads is $2.4 million. After allowing for biological asset valuation impacts the profit generated is $4.4 million.
(3) $47.0 million
(4) Operating profit after allocation of corporate overheads is $11.9 million. After allowing for biological asset valuation impacts the profit generated is $2.4 million.
(5) All the Investment Security Guarantees referred to in question without notice 334 on 12 June 2012 have been executed.
The quantities contained in the investment security guarantees are related to the timber quantities held under contract. These quantities are:
Contracts
Quantity under ISG
(tonnes)
Auswest Timber Pty Ltd
2770A; 2773
112,648
Hexan Holdings Pty Ltd
2777
13,160
Yornup Mill Pty Ltd
2780
6,250
Middlesex Mill Pty Ltd
2778
4,500
Nannup Timber Processing Pty Ltd
2772
26,300
Blueleaf Corporation Pty Ltd
2765; 2772
77,025
(6) No
(7)(a)-(d) Not applicable
(8)(a)-(b) [See tabled paper no.]
(c) Nil
(9) No
(10)(a)-(b) Not applicable
(11)(a) Carbon sequestered in native forests does not have any value under Australia's carbon trading framework.
(b) No work was done to develop the market for native forest-based carbon credits. Carbon sequestered in native forests does not have any value under Australia's carbon trading framework.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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