Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Application lodged for regional park carbon credits


News release
16 November 2012

Application lodged for regional park carbon credits

The Wellington Regional Council has applied to the Ministry for Primary Industries to register carbon credits for 442.41ha of land, in Belmont Regional Park, East Harbour Regional Park and Battle Hill Farm Forest Park.

The carbon credits will be registered through the Permanent Forest Sink Initiative (PFSI) – a government climate change initiative that encourages the establishment of permanent forests. The PFSI provides landowners with the opportunity to earn carbon credits and includes a covenant between the government and the landowner. This covenant ensures that the forest is carefully managed to maintain the forest canopy and promote regeneration.
Nigel Wilson, Chair of the regional council’s Social & Cultural Wellbeing Committee, says the application is an opportunity to make a positive contribution to global climate change efforts.

“By increasing the capacity of our regional parks to capture and store carbon, we are playing our part in a global response to the impacts of climate change,” says Cr Wilson.

A global marketplace for the trading of carbon credits exists to encourage the capture of carbon-dioxide from the atmosphere through initiatives such as establishing or re-establishing forests. The regional council has already lodged applications for its commercial forestry areas (4,261ha) under the Emissions Trading Scheme (ETS).

As the regional council owns and manages Kyoto Protocol-compliant forests, it’s able to register and sell carbon credits for financial gain. The current market price for carbon credits is approximately USD $3 per unit, but it is estimated that the credits could be worth $176,000 if the unit price rises to USD $20 per unit.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Urgent Bill Planned:
MP Pay Rises To Match Public Service

Prime Minister John Key today announced an overhaul of the Remuneration Authority Act, tying MP salaries to those of the wider public sector, which will be passed under urgency.

Mr Key says the decision was made after the Remuneration Authority’s latest determination which saw the total remuneration received by MPs increased by about 3.5 per cent...

The new legislation will be backdated to 1 July 2014, meaning the pay increase outlined in the latest determination will not be awarded. More>>

 

PARLIAMENT TODAY:

Iraq: Ex-Hostage Says Government Not Putting NZers, Iraqis First

Harmeet Singh Sooden is travelling to Iraq in the coming weeks to work with Christian Peacemaker Teams (CPT) on a short-term assignment. More>>

ALSO:

Joint Statement: Australia-New Zealand Leaders’ Meeting

Prime Minister Key warmly welcomed Prime Minister Abbott and Mrs Abbott to New Zealand. The visit has enabled wide-ranging and substantive discussion that has underlined the strength, value, diversity and warmth of our trans-Tasman relationship. More>>

ALSO:

Press Conference: Peters To Stand In Northland By-Election

New Zealand First Leader Winston Peters has announced his intention to stand in the Northland by-election, citing his own links to the electorate and ongoing neglect of the region by central government. More>>

ALSO:

Gordon Campbell: On The Wage Hike For MPs (and Paul Robeson)

Hard to tell what is more infuriating. Is it the 5.3% increase on the already bloated salaries of MPs, or their pantomime of outrage at being gifted with such a wonderful back-dated bonanza? More>>

ALSO:

No Designers Or Visual Artists: Flag Panel Members Announced

The Government has appointed 12 New Zealanders as members of the Flag Consideration Panel which will engage with the public about a possible new New Zealand flag, Deputy Prime Minister Bill English says. More>>

ALSO:

Labour MP Stands Down From Portfolio: Comment From Carmel Sepuloni

The first I knew of my mother’s charges was when I was called by a reporter yesterday. I spoke to Andrew and we agreed there is a conflict of interest at the present time which means I will temporarily stand aside from the Social Development portfolio. It’s the right thing to do… . More>>

ALSO:

Gordon Campbell: On Whether NZ Troops Are The Least Of Islamic State’s Problems

Given that it has been politically packaged and sold as a training mission, the Iraq deployment announced yesterday by Prime Minister John Key seemed to be mysteriously short of actual trainers... The other wing of the argument is whether a troop deployment is (a) the only effective way and (b) the appropriate time to combat Islamic State. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news