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Canberra Ag credits welcomed by Wool Carbon Alliance

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The newly formed Wool Carbon Alliance today welcomed the Federal Governments announcement to recognise the positive role that farming and wool growing play in the carbon cycle.

We applaud the Federal Government and Opposition for taking this stance and look forward to opportunities that Australian woolgrowers may have in accessing on-farm carbon credits in our future carbon economy, WCA chair Chick Olsson said.

In a show of unity, wool industry leaders have gathered in Sydney under the banner of the WCA to explore and recommend policy to Australian Wool Innovation on funding vital research into this exciting new area for wool.

As wool is composed of 50% carbonI II that has been captured and stored from the atmosphere, it is a natural carbon store. In 2008/09, Australian woolgrowers grew and exported 384 million kgs of greasy wool. Preliminary estimates indicate that this equates to approximately 500 million kgs of CO2 equivalents which have been captured and stored from the atmosphere

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