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.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Labour: Little Announces New Shadow Cabinet

“Labour had an impressive intake of fresh faces after last year’s election and newest MPs have now had a year to show what they’re made of. This reshuffle rewards hard work and continues my drive to renew our Caucus line up." More>>


Because Reasons: Someone Reckons David Seymour Is Politician Of The Year

Trans Tasman's 11th annual Roll Call has thrown a curve ball this year, ignoring the likes of John Key, Bill English, and Winston Peters to pick its politician of the year from the ranks of the new generation. More>>


Whaling: NZ Deeply Disappointed By Japan's Decision

“New Zealand is strongly opposed to whaling in the Southern Ocean. We call on Japan to take heed of the 2014 International Court of Justice decision and international scientific advice concerning their whaling activities.” More>>


Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Get More From Scoop



More RSS  RSS News AlertsNews Alerts
Search Scoop  
Powered by Vodafone
NZ independent news