News: Carbon Conscious set to benefit from tax

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Carbon Conscious Limited (ASX:CCF) looks set to benefit from the federal government’s proposed carbon tax that yesterday passed in the House of Representatives.

The company, that describes itself as Australia's leading carbon offset supplier through planting Australian native trees to absorb carbon dioxide, has welcomed the news.

Carbon Conscious says it has $45 million worth of existing commercial forestry contracts and close to $190 million worth of commercial forestry options to be exercised by companies such as Origin Energy Limited (ASX:ORG).  

The national carbon pricing scheme is expected to be implemented from July 1, 2012.  

Yesterday shares in Carbon Conscious closed 1.27 per cent higher at $0.40. 

In the year ended on June 30, 2011, Carbon Conscious reported a net profit of $854,000.