Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Carbon Credit Confiscation Costs Gisborne 1.3b

Media Statement

Monday 12 February 2006

For Immediate Release

Carbon Credit Confiscation Costs Gisborne District $1.3 Billion

The Government’s planned confiscation of Kyoto carbon credits is likely to cost the Gisborne District at least $1.3 billion, the Kyoto Forestry Association (KFA) revealed today.

The association released the calculation on the eve of the Government’s first consultation meeting on its confiscation plans, to be held at Gisborne’s Lawson Field Centre at 9.45 am on Tuesday 12 February. The calculation is based on official MAF forest area data by age class and territorial authority and an estimate of carbon credit values of between $13,000 and $20,000 per hectare.

“Everyone with an interest in the forestry industry must attend the Government’s meeting and tell them in no uncertain terms that the people of Gisborne will never accept $1.3 billion of their property being confiscated by the Government without compensation,” KFA spokesman Roger Dickie said today.

“Forest owners are the environmental good guys, yet we seem to be the victims of punitive government policies that have caused new plantings to plummet and New Zealand’s total forest cover to fall for the first time in a century.”

Kyoto carbon credits, which the Government plans to confiscate, are earned by those who sequestered carbon by planting new trees since 1990, and by those industries which have cut their carbon emissions since then.

Through the 1990s, 30,000 ordinary New Zealanders and forestry companies planted more than 500,000 hectares of new forest, risking their capital both for the wood that would come from their forests and for the opportunity to earn the carbon credits. Government officials through the 1990s made clear that forestry investors would gain financially from the credits, which are a clear property right, as confirmed by the Treasury. This fuelled a planting boom.

Since the Government first indicated that it intended to confiscate the credits, tree planting in New Zealand has plunged and New Zealand is now experiencing deforestation for the first time in living memory.

Mr Dickie said the Government has previously indicated it would limit its confiscation of the credits to those associated with the First Commitment Period of the Kyoto Protocol, costing forest owners nationwide as much as $2.5 billion. However, officials are now indicating it may extend the confiscation to the Second Commitment Period, putting the losses nationwide at between $8 billion and $15 billion.

“For the Gisborne region – with its 105,000 hectares of post-1990 forests, according to official MAF data – the losses are estimated at $1.3 billion to $2 billion, depending on the market value of the carbon credits in future years,” Mr Dickie said.

“Gisborne can’t afford to have $1.3 billion ripped out of its economy by the Government.”

Mr Dickie said the Government was also considering a $13,000 per hectare tax on land owners wanting to convert from forestry to other land uses, which would devalue all existing forestry land.

Mr Dickie said it was up to people in Gisborne to be the first to say no to the confiscation.

“The Government has decided not to hold consultation meetings in Wellington or Auckland – where up to 80% of forestry investors live – so it is up to people in Gisborne and elsewhere to stop these mad proposals that attack the one industry actually capable of sequestered carbon in the fight against global climate change,” he said.

The KFA and other forestry industry organisations plan to attend all the Government’s meetings around the country to ensure officials could not claim any support for the confiscation plans, Mr Dickie said.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Drone Strikes And Judith Collins‘ Last Stand

The news that a New Zealand citizen was killed last November in a US drone attack in Yemen brings the drones controversy closer to home.

To the US, drones are a legitimate response to the threat posed by the al Qaeda organisation and its franchisees... To the US, the drones carry the added advantage of not putting US troops at risk on the ground, and minimises the need for putting them in large numbers in bases in the countries concerned, always a politically sensitive point.

The counter-argument, well articulated by security analyst Paul Buchanan on RNZ this morning, is that this particular drone attack can be said to amount to an extra-judicial execution of a New Zealand citizen by one of our military allies, in circumstances where the person concerned posed no threat to New Zealand’s domestic security. More>>

 

Parliament Today:

Policies: Labour’s Economic Upgrade For Manufacturing

Labour Leader David Cunliffe has today announced his Economic Upgrade for the manufacturing sector – a plan that will create better jobs and higher wages. More>>

ALSO:

Gordon Campbell: On The Life And ACC Work Of Sir Owen Woodhouse

With the death of Sir Owen Woodhouse, the founding father of the Accident Compensation Scheme, New Zealand has lost one of the titans of its post-war social policy. More>>

ALSO:

Bad Transnationals: Rio Tinto Wins 2013 Roger Award

It won the 2011 Roger Award and was runner up in 2012, 2009 and 08. One 2013 nomination said simply and in its entirety: “Blackmailing country”... More>>

ALSO:

Select Committees: Tobacco Plain Packaging Hearings

The Stroke Foundation is today backing the Cancer Society and Smokefree Coalition who are making oral submissions to the Health Select Committee in support of proposed legislation to remove of all branding from tobacco products. More>>

ALSO:

Milk: Oravida Asked For Cabinet Help

New evidence released by New Zealand First today reveals Justice Minister Judith Collins used her position to manipulate the Government to help her husband’s company, Oravida, after the Fonterra botulism scare, says New Zealand First Leader Rt Hon Winston Peters. More>>

ALSO:

With Conditions: Ruataniwha Consents Approved In Draft Decision

The Tukituki Catchment Proposal Board of Inquiry has granted 17 resource consents relating to the $265 million Ruataniwha Water Storage Scheme in a draft decision that would open more of the Hawke’s Bay to irrigation. More>>

ALSO:

Fast Lanes, Campervans: Labour 'Making The Holidays Easier For Kiwi Drivers'

The next Labour Government will make the holidays easier and journeys quicker for Kiwi families driving on the roads, says Labour Leader David Cunliffe. More>>

ALSO:

Gordon Campbell: On Royalty And Its Tourism Spin-Offs

Ultimately the Queen’s longevity has been one of her most significant accomplishments. A transition to Prince Charles while the monarchy was in the pits of public esteem in the mid to late 1990s would have been disastrous for the Royal Firm. Far more congenial representatives have now emerged... More>>

ALSO:

Privacy (Again): ACC Demands Excessive Privacy Waivers

Labour: “This is just another example of ACC under National deliberately acting to deny treatment and compensation... Those who did fill in the form have effectively been victims of yet another ACC privacy breach. This time Judith Collins knew it was happening..." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news