NZPA Thursday, 20 September 2007
After a fierce battle with the forestry sector, the Government has given a major concession to the industry in its climate change policy announcement today.
Under the Kyoto Protocol, forests planted after 1989 generated carbon credits which could be sold to those who breached caps on the greenhouse gases they emitted.
For some time, the Government has argued that these credits were owned by it and they would be allocated as they saw fit.
This caused fury amongst some forest owners, especially those who had sold investments on the basis of the value of the credits.
A public campaign against the move, at the same time as records showed the amount of exotic forests planted was shrinking for the first time in 50 years, has appeared to spur the
Government into action.
The policy released today says owners of post-1989 forests will own the credits, but will also have to deal with the debits if they cut down the forests.
Post-1989 forest owners would not be forced to join the emissions trading scheme and if they don't the Government will take ownership of the credits and debits.
Different sets of rules will apply for forests planted prior to 1990.
Forestry Minister Jim Anderton said the scheme could provide owners with a new stream of income and would encourage new plantings.
There would be other incentives to plant trees with the aim to increase forest cover by 250,000 hectares by 2020.
These included an Afforestation Grant Scheme to encourage new tree planting from those who did wish to enter the emissions trading scheme.
National's climate change policy spokesman Nick Smith said he welcomed the Government's change of heart, saying its attitude had lost about 10 million trees.
"This has resulted in 31 million tonnes of carbon emissions," Dr Smith said.
"The forestry sector needs certainty. With Labour now agreeing with National on the allocation of carbon credits, they can move forward with confidence."
Green co-leader Jeanette Fitzsimons said the Government had gone too far.
"Instead the Government has caved in to the frenetic demands of the Kyoto foresters who believe they have an absolute property right to all of the credits that might relate to their plantings," Ms Fitzsimons said.
"So the taxpayer is going to be subsidising the replanting incentives for older forests."
The Kyoto Forestry Association spokesman Roger Dickie said it was thrilled with the announcement.
The association represents owners of post-1989 planted forests.
"It indicates that the Labour/Progressive Government has listened carefully," Mr Dickie said.
"Most importantly, the Government's announcements will give people confidence to look more seriously at new forestry investment to reverse our current low levels of new plantings and reverse the trend towards deforestation."
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