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Farmer makes $1m for doing nothing at all | NEWS.com.au
Is this the future of conservation?
Peter Allen signed a $1 million deal for doing nothing at all.
In a historic transaction, mining company Rio Tinto bought the rights to carbon dioxide stored in 3500ha of Mr Allen's heavily vegetated property, 575km northwest of Brisbane.
Instead of clearing the land to run cattle, Mr Allen will preserve the trees for 120 years to ensure they soak up carbon dioxide.
Is this the future of conservation?
Peter Allen signed a $1 million deal for doing nothing at all.
In a historic transaction, mining company Rio Tinto bought the rights to carbon dioxide stored in 3500ha of Mr Allen's heavily vegetated property, 575km northwest of Brisbane.
Instead of clearing the land to run cattle, Mr Allen will preserve the trees for 120 years to ensure they soak up carbon dioxide.