Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


First sign up for Permanent Forest Sink Initiative

First sign up for Permanent Forest Sink Initiative

The first approved covenant under the Permanent Forest Sink Initiative has just been registered, Agriculture and Forestry Minister Jim Anderton said today.

Jim Anderton said the PFSI devolved carbon credits to landowners who planted permanent forests on previously unforested land. Under the initiative, covenants are registered against the land for the next 50 years.

'The initiative is particularly useful for landowners looking to take erosion-prone land out of livestock production, but who wish to still make some money from the land.'

He congratulated Sustainable Forestry Management Ltd on being the first company in New Zealand to join this initiative.

The covenant signed between the Government and Ararewa Station Limited covers 362 hectares of forest located in the Waitotara Valley, Wanganui. The forest comprises 320 hectares of eucalyptus and 42 hectares of radiata pine and was planted in 2007.

The Agriculture and Forestry Ministry, which administers the PFSI, has received a number of other expressions of interest that could total an area of approximately 60,000 hectares.

Jim Anderton said landowners now understood that forests were more than just wood.

'Initiatives such as this one present environmental investment opportunities, which are especially useful for erosion-prone and isolated land where harvesting timber can be problematic.'

The PFSI promotes the establishment of permanent forests on previously un-forested land. The initiative is one of Government's sustainable forestry programmes that assist with reducing the likely impacts of climate change.

The initiative creates a business opportunity for landowners and investors who receive carbon units for the increases in carbon stored in their forest. Under the scheme, participants are issued tradable Kyoto Protocol Assigned Amount Units (AAUs) based on a carbon measurement.

Under the PFSI, in addition to earning carbon units, limited harvesting is allowed on a continuous forest canopy cover basis.

More information on the PFSI and other sustainable forestry initiatives is available on the MAF website: _


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election