Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Carbon potential huge, says multi-million $ seller

Carbon potential huge, says multi-million dollar seller

New Zealander foresters have just made the country's first major sale of local carbon credits into the European market.

Carbon market specialist information service Carbon News reports that the man behind a multi-million dollar sale says that carbon is potentially a major export and could make up to 80 per cent of forestry company revenue.

Ernslaw One has just sold 520,000 tonnes of New Zealand AAUs to a European buyer. The sale was handled by Hamilton-based Carbon Market Solutions, Carbon News ( reports.

Neither company will give details about the price or buyer, but Carbon News understands that the units sold at around 10 euros, making the deal worth more than $11 million.

Because AAUs are not allowed into the European emissions trading scheme, it is likely that the units were sold to a European government which will use them to meet its country obligations under the Kyoto Protocol.

The deal – the first into Europe - is being hailed as a breakthrough because it recognises the carbon sequestering value of New Zealand’s plantation forests.

Ernslaw One managing director Thomas Song told Carbon News that the deal proves the viability of carbon as an export for New Zealand forest owners – if the government provides certainty around the ETS.


© Scoop Media

Business Headlines | Sci-Tech Headlines


R&NTU: KiwiRail strike notices withdrawn following new offer

Strike notices on KiwiRail have been withdrawn. Rail and Maritime Transport Union General Secretary Wayne Butson says following negotiations between the RMTU and KiwiRail, a new offer from KiwiRail will be taken back to union members for ratification... More>>

Banking: Stress Tests Show Strengthening Bank Resilience

The latest stress tests carried out by the Reserve Bank of New Zealand – Te Pūtea Matua show strengthening resilience in the banking sector and the benefits of continuing to build capital buffers... More>>

Statistics: Building Activity Down In September Quarter
The volume of building activity in New Zealand fell 8.6 percent in the September 2021 quarter, compared with the June 2021 quarter, Stats NZ said today. Residential building activity fell by 6.4 percent in the September 2021 quarter, while non-residential building activity fell 12 percent... More>>

Reserve Bank: Deputy Governor Reflects On Time At RBNZ
Central bankers must continue to look forward to guard against the unpredictable, Deputy Governor Geoff Bascand says in a speech published today. Mr Bascand joined the Reserve Bank of New Zealand – Te Pūtea Matua in 2013 during the aftermath of the Global Financial Crisis... More>>

Xero: Data Reveals ICT Expenditure Key To Small Business Sales Growth
Xero, the global small business platform, today released a new report which shows New Zealand small business ICT expenditure has increased 25 percent compared to pre-pandemic levels - more than the UK (20%) and Australia... More>>

Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>

Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>