Farm Forestry New ZealandJuly, 2009
Emissions Trading Scheme (ETS) update - Forestry
from Sustainable Forestry Bulletin - July 2009
- Forestry remains actively in the ETS.
- The obligation to surrender emissions units to meet deforestation liabilities from 1 January 2008 remains unchanged. However, there is a delay in the date by which emissions units have to be surrendered in order to meet deforestation obligations - along with changes to certain notification requirements.
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For pre-1990 forest land, on 30 June 2009 the Government amended the Climate Change Response Act 2002 (CCRA) as follows:
- the notification deadline for deforestation of pre-1990 forest land that occurred during 2008 and 2009 has been deferred from 31 January 2009 to 31 January 2010;
- participants will not be penalised for failing to notify deforestation of pre-1990 forests by the old deadline (31 January, 2009), provided the participant notifies by 31 January 2010;
- participants who deforested pre-1990 forest land during 2008 or 2009 are still obliged to file an emissions return quantifying their deforestation liability, between 1 January and 31 March 2010 (there has been no change to these dates);
- the deadline for surrendering emissions units to meet deforestation liabilities reported in an emissions return has been deferred from 30 April 2010 to 30 April 2011. Participants may chose to surrender emissions units to meet their deforestation liabilities anytime between 1 January 2011 and 30 April 2011;
- the 30 June 2009 deadline for applications for a less than 50 hectare exemption has been revoked. A new deadline, no later than 1 July 2010, will be prescribed by regulation or public notice;
- For post-1989 forest land the Government made no changes to the CCRA. Applications may still be made at any time to voluntarily register post-1989 forest land in the ETS. Registered ETS participants remain entitled to receive New Zealand Units (NZUs) for increases in net carbon stocks from 1 January 2008.
- For more information call 0800 CLIMATE or visit www.maf.govt.nz/sustainable-forestry
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