Newsletter #7

Preparing your future in the ETS, our new website and Earth overshoot day.

Preparing the (not so far away) future as an ETS participant

Many of you have heard about the rule changes which will be implemented from 1 January 2023 concerning the ETS, and particularly forestry participants. We keep up to date on those changes and how they affect you, and intend to share news with you as soon as they are officially confirmed.

If you are currently a client, and intend to register more land in the scheme, you need to let us know as soon as possible. The current timeline for MPI to process new applications (including adding or removing land) is more than six months, and all applications must be processed before the 31st December 2022 to benefit from the current rules. This includes being able to claim New Zealand Units (NZUs) back to the start of the current Mandatory Emission Return Period (1 January 2018).

Preparing the future also means ensuring that the Field Measurement Approach (FMA) is carried through for your forest before December 2022. This measurement is mandatory if you are an ETS or PFSI participant with more than 100 hectares registered with either scheme. We are currently organising our FMA programme for next year. If you have any questions, please ask Mathilde at mathilde@carbonforestservices.co.nz.

Carbon Forest Services has launched a new website

We have launched a new website to reflect the changes and evolution of the company for the past two years. This website shares a detailed list of the services we provide, our news, as well as a history of the carbon price. We also have a page for the team, which has now extended to four full-time staff beyond Ollie.

We also have a handy FAQ page where we answer the most frequent questions we receive. You will find additional resources and information on forestry, the ETS and climate change. Read it here.

If you’re interested in Government consultations, now is your time

The Government currently has two consultations open relating to market governance and industrial allocations in the ETS. They’re seeking feedback on options for their design. If you’re interested in participating, you can access them here.

There is also this event (online) specifically for forestry participants for market governance that you can access here.

Earth Overshoot Day and other dire events

Earth Overshoot day marks the day when humanity’s demand for natural resources and services in a given year exceeds what the earth can regenerate in a year. That means we now need 1.7 planet earth to meet humanity’s demands on our ecosystem. On a national level, New Zealand overshoot day is on May 15. This is inconvenient as there are not many planet earths lying around as backup.

In other news, many places in the world have experienced terrible floods in the past few weeks. The impacts of climate change through catastrophic weather events are starting to show in places which we thought would be safe for a while, like Germany, China, or New Zealand. On the other extreme side of things, an entire village has been wiped off the map due to fires in Canada.

This is affecting not only our way of life, but also our social, economic and political systems. We need to act more urgently by reducing our carbon emissions drastically and planting more forests, some for timber to displace carbon intensive materials, and others must stay in the ground long term as permanent carbon sinks.

As always, if you have any queries, please contact us at admin@carbonforestservices.co.nz

This newsletter is a marketing communication. Information and assessments contained in this newsletter should not be considered a promise as to future actual results which may be different.