EITG Suggests Foresters MUST Opt-In to NZETS

EITG Suggests Foresters MUST Opt-In to NZETS

6/11/07 10:18:00 AM
Press Release: Environmental Intermediaries & Trading Group Limited

MEDIA RELEASE

November 2007, Auckland New Zealand, Environmental Intermediaries & Trading Group Limited (EITG) has published further recommendations to the Forestry Industry after a comprehensive review of the New Zealand Governments proposed emissions trading system the NZETS and attendance at MAF forestry briefings in October.

In the November edition of its ‘Carbon Monitor’ publication EITG strongly suggested post 1989 forest owners MUST opt in to the NZETS no matter whether they intend to trade their forest carbon credits or not.

‘It was clear from Officials at the forestry briefings that no one could bind future Governments so the risk of not being given credits at harvest free of charge is real and compelling’ said joint CEO Richard Hayes of EITG.

‘Looking at past examples such as fishing quota its easy to imagine the tax payer not wanting to stump up $100,000’s just so forest owners can harvest particularly as future deforestation and the ‘wall of wood’ in 2020 look to coincide with increased prices for carbon’ says Hayes.

Trading these credits is however unlikely as most foresters left the briefings confused and disenchanted with the scheme despite its technical strengths.

A full background on NZETS has been published on EITG web site www.eitg.co.nz/nzets.htm and EITG publication the Carbon Monitor available for free subscription at nzets@eitg.co.nz

ends

EITG
Environmental Intermediaries & Trading Group Limited
Richard S Hayes
Box 9185
Newmarket
Auckland

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