Australasia mainly comprises of Australia and New Zealand and the island of New Guinea.
New Zealand has taken action on mitigating climate change by establishing the New Zealand Emissions Trading Scheme in 2008 and includes forestry and agriculture. NZ ETS forests are issued the domestic NZU carbon unit. Currently the NZ Government is allowing these to be converted into AAU’s for international trading.
Australia has not adopted a trading scheme yet but like many other countries are developing ways of reducing their emissions. Forestry in Australia could play a big part in their emission reduction scheme in the future.
