New Zealand - Permanent Forest Sinks Initiative Grants Credits

On 31 August the Government confirmed that it will
proceed with the PFSI. The Government is satisfied
that the PFSI is consistent with the direction climate
change policy is likely to take.
The Government has made the following changes to
the PFSI policy:
• The 35-year non-harvest period has been
removed. Harvesting may now begin in any
year.
• Harvesting restrictions will be removed after
99 years, although landowners will still be
required to account for carbon stocks on the
property, and will still retain related
liabilities. This removal of restrictions will
allow greater flexibility for other land uses in
the future.
• Only those exotic forests established on
Kyoto-compliant land after 17 October 2002
will be eligible to enter the initiative.
• All indigenous forests established on Kyotocompliant
land will be eligible to enter the
initiative.
Kyoto-compliant land is defined as land that was not
covered by forest on 31 December 1989.
A forest is defined as:
• exceeding one hectare;
• greater than 30 metres wide;
• containing species capable of reaching five
metres or more in height at maturity, and
greater than 30 percent crown cover of the
site.
Land that was actively farmed at 31 December 1989
and that contains areas of regenerating scrub may be
eligible for PFSI. This will be assessed on a case by
case basis. A guide to the eligibility of land will be
available in January 2007.
The legislation for the PFSI is now in place with the
passing into law of the Climate Change Response
Amendment Bill on the 13 November 2006.
The new Part IIIB of the Forests Act establishes
regulation-making powers for the implementation of
the PFSI. Regulations made under this Part and the
forest sink covenant will contain the operational
details of the PFSI.
In consulting on the proposed cost recovery methods
and levels, MAF will also outline the proposed
contents of the PFSI regulations and forest sink
covenant.
Copies of the bill are available from
www.parliament.nz/en-NZ/PB/Legislation/Bills
Consultation on PFSI and Kyoto
Forest Owners Opposition
According to the Kyoto Forest Owners Association of
New Zealand, the Government has expropriated the
carbon credits of forests planted since 1990.
The NZ Forest Owners Association (NZFOA) is
holding two meetings to discuss the Governments
Land Management Climate Change Policy. The first
in Christchurch on February 2nd the other in Rotorua
on February 12th.
As MAF officials will be in attendance at these
meetings you are urged to attend one of the meetings
to make your feelings known as an owner of a post
1990 KYOTO compliant forest. Some of the
executive of the NZFOA have very little or no post
1990 compliant forests so it is imperative that you let
them know your feelings also.