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

 

PARLIAMENT TODAY:

  • Week in Parliament 22-05-15
  • Saturday Sitting
  • House Rises At Midnight
  • Telco Levy Bill Passes
  • Telco Levy Bill Completes First Reading
  • Social Housing Bill Passes Under Urgency

  • TPPA: University Of Auckland Warns Of Negative TPP Impact

    The University of Auckland May 20, 2015 University of Auckland Warns of Negative TPP Impact With the Trans Pacific Partnership (TPP) negotiation drawing to a close, the University of Auckland has expressed serious concerns about its potential implications. ... More>>

    NZ Flag: Flag Referendum Gets Hit Hard In New Poll

    The latest Campbell Live text poll confirms it is time for the Prime Minister to listen to the public and shelve his flag referendum, says the New Zealand First Leader Rt Hon Winston Peters. More>>

    Gordon Campbell: The Government’s Belated Moves On Property Speculation

    Is it a property tax on capital gains or a capital gains tax on property? The Jesuitical distinctions in the government’s spin about its latest moves on property speculators are all about whether the government can claim that it jumped, or confess that it ... More>>

    Grant Robertson:
    Key Can’t Just Be Prime Minister For Parnell

    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In a ... More>>

    Labour Party: More Regional Jobs Go In Corrections Reshape

    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka ... More>>

    ALSO:

  • NZ First - Prison Job Losses to Send Money Offshore
  • TPPA: ‘Team Obama’ Regroups On Fast Track, Still Not Deliverable

    ‘After yesterday’s stinging and unexpected defeat for the Obama administration’s attempt to advance Fast Track legislation in the US Senate, Senate leaders have worked up a compromise they think will get them past this blockage’, according to Auckland ... More>>

    NZ Government: 5,500 More Doctors And Nurses In Our Hospitals

    Health Minister Jonathan Coleman says a record number of doctors and nurses are working in District Health Boards across the country. More>>

    Controller and Auditor General: Katherine Rich Conflict of Interest Decision

    We are writing to you about a matter that has been raised with us by members of the public. More>>

    ALSO:


    Budget 2015: Andrew Little On The 2015 Budget

    Speaking to the Chamber of Commerce, the Labour opposition leader attacked the government’s approach to economic issues facing New Zealand. He said they have been “more than reckless in their complacency” and “the next week’s budget will do nothing ... More>>

    Defence Force: NZDF Building Partner Capacity Mission Personnel In Iraq

    NZDF Building Partner Capacity Mission Personnel in Iraq The New Zealand Defence Force Building Partner Capacity training mission contingent is in place at Taji Military Complex in Iraq. The Chief of Defence Force Lieutenant General Tim Keating says the ... More>>

    PM Press Conference: ACC Levy Cuts Announced

    In a press conference this afternoon in Wellington, ACC Minister Nikki Kaye proposed $500 million worth of ACC levy cuts. More>>

    Quakes: New Process For Red Zone Crown Offers

    Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

    ALSO:

    Gordon Campbell: On The Battle Obama Is Waging Over The TPP

    For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

    ALSO:


    Gordon Campbell: On lessons for Labour from the UK election
    If the polls were right – and the pollsters kept telling us how accurate they’d been in 2010, and even Nate Silver was getting the same results – there seemed no way that the British Labour Party could lose last Thursday’s British election. With Labour predicted to win around 270 seats and the Scottish National Party batting around 55-60 seats, Labour seemed to be home free. But…as we now know, things didn’t turn out that way. Labour ended up with 232 seats and the Conservatives swept back to power with an outright majority, after winning only a little more than a third ( 36.9%) of the votes cast.MORE >>
    Also.

  • NZ PM John Key - PM congratulates David Cameron after UK election
  • The Nation IV Transcript - Hack Attack author Nick Davies
  • Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
    More RSS  RSS
     
     
     
     
    Politics
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news