After years of lobbying and last years consultation, The NZ EUR will implement more transparency on unit origination. From 01 April 2014 the origin of NZUs will be visible alongside the serial range of units within the NZ emission unit register.

This means sellers and buyers of units will be able to see what type of NZUs they hold. For example An NZU will have an identifier stating whether it is from the Permanent Forest Sink Initiative or post-1989 ETS Forestry, or a free allocation to industry. Read the release here.

In the latest NZ Tree Grower Ollie Belton explains the risks and penalties of non-compliance under the ETS for forest owners, and how to resolve possible issues when they arise. 

With the crash of the NZ carbon market over the past two years, coupled with resurgent log prices, the New Zealand Emissions Trading Scheme (ETS) has faded into the background for most forest owners. For many, the ETS is a failed policy and timber is back as the focus. Despite the depressing state of the market, forest owners should not forget that the ETS and all its rules and regulations remain.  Read the article here.

The NZ EUR have posted guidelines on compliance within the NZ ETS for participants. They have confirmed that the model used is similar to that employed by IRD for tax. This means penalties may be waived for innocent mistakes while a more heavy handed approach is to be used for participants that intentionally or recklessly non-comply. There is also a strong emphasis on voluntary disclosure. Read the guide here.