Carbon farming best forestry deal ever
Friday 5 Oct 2018In New Zealand, Whanganui iwi have been offered an opportunity to harvest carbon credits off waste or unproductive land if it becomes permanent forest. On September 28 the new Māori Carbon Foundation held a meeting at Cooks Gardens Function Centre to outline its proposal. About 40 people were there to hear it.
On suitable land the foundation is offering to establish, maintain and insure a forest at its own cost. It would pay for this by cashing in the carbon credits (NZUs) for the first seven years.
From year seven until year 30 the forest's NZUs would be split 50:50 with the Māori owners. After that the foundation's carbon and forestry rights would be ended and the owners would get all the NZUs.
Each hectare of average forest could earn $10,000-worth of NZUs over 30 years. Iwi and hapu would continue to own the land and be able to access it. The forest would be permanent, perhaps reverting to native species.
The proposal was outlined by Sir Mark Solomon, who chaired the financially successful Te Runanga o Ngai Tahu until 2016. He said Māori set it up in order to have their voice heard in this new climate change/carbon price/billion trees era.
The foundation was launched on September 17, and is touring 20 New Zealand centres to make its offer to Māori. It got good crowds in Kaitaia, Kaikohe and Wairoa. Whanganui was its seventh stop.
It has backers with "megabucks" to fund the scheme, said Solomon. It will get expert advice from a New Zealand owned private business - New Zealand Carbon Farming. More>>.
Source: NZ Herald
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