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Forestry and climate change
Authors: Andrew Caddie, Craig NelsonPublication: New Zealand Journal of Forestry, Volume N.Z.J.For. 2008, Issue N.Z.J.For. 53(2) 2008, pp 32-34, Aug 2008
Publisher: New Zealand Institute of Forestry
Abstract: The Select Committee report on the Climate Change (Emissions Trading and Renewable Preference) Bill has recently been circulated together with a revised Bill. In this article we focus on some of the detail of the changes to the Bill with implications for the forestry sector. We also provide a brief update on other aspects of the Government’s climate change initiatives as they relate to forestry. In particular the Afforestation Grant Scheme and the Permanent Forest Sinks Initiative. Background The ETS is an integral part of the Government’s package of policy initiatives aimed at climate change and greater sustainability. By establishing a framework to put a price on greenhouse gas emissions, the ETS seeks to “support global efforts to reduce greenhouse gas emissions” by reducing New Zealand’s net emissions below business- as-usual levels. Under the ETS a core obligation is imposed on parties carrying out specific activities (for example, deforestation of pre-1990 forest land). That obligation is to report and surrender to Government a tradable emission instrument, either a New Zealand Unit (NZU) or, other Kyoto Compliant Units (such as an AAU) for each tonne of CO2 equivalent emissions for which that party is responsible over the relevant period.