Media Release

17 April 2009

Kyoto news “no reason for complacency”

The announcement that New Zealand is now expected to exceed its Kyoto target by 9.6 million tonnes - worth about $240 million – does not mean the country should abandon its carbon dioxide emission abatement activities.

That’s according to Bryan Gundersen, a partner at Kensington Swan and head of the firm’s energy and climate change teams.

According to last year’s figures, it was projected New Zealand would be in deficit of reaching 1990 emission levels by 2012 by 21.7 million tonnes. This would have cost the country about $546 million.

The Climate Change Minister Hon Dr Nick Smith says the recent reversal is mostly down to a drop in agricultural emissions caused by the 2007/2008 drought and because of improved information surrounding the sequestration of forestry.

Further, due to large-scale forest planting that took place in the 1990s, more and more carbon dioxide is being sequestered every year.

Bryan Gundersen says the figures do not mean New Zealand has actually reduced emissions.

“What it means is that our forestry assets are doing a better job than was originally realised.

“This proves just how capable forestry is in absorbing carbon dioxide and in helping the country to meet its commitments.

“There are of course certain issues that should be kept in mind, such as the reality the country’s exact net Kyoto position will not be known and formalised until 2015.

“We cannot be complacent in believing we have reached targets and can therefore abandon abatement activities.”

“The fluctuating figures also show that nothing can be regarded as a certainty when it comes to carbon emissions and sequestration. We need to keep striving to adhere to our international commitments, especially in the build-up to Copenhagen.

“Protecting and promoting our forestry assets is probably the most effective way of doing this,” says Mr Gundersen.

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