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ETS - Facing the Inevitable

New Zealand was to be carbon neutral by 2020. But latest predictions show a deficit of 49 million tonnes and, depending on budget estimates; this deficit could cost the taxpayer between $1 billion and $2.45 billion.  Originally forestry was expected to provide us with carbon credits and now it seems, without better management, it will be a source of carbon emission, which could put more pressure on dairy farmers.

Key dates that farmers need to act by

September 30 – Apply for exemption

If you own less than 50 hectares in total of pre-1990 exotic forest you may be eligible for an exemption from the Emissions Trading Scheme.

November 30 – Apply for carbon credit allocation

By owning pre-1990 exotic forest you will automatically be part of the emissions trading scheme. This forest will not earn you any carbon credits but if you deforest more than two hectares and not replant it, it will cost you. You can apply for a one-off free allocation of carbon credits recognising these trees have locked up carbon while growing.

Now is the time to sort out where you stand on carbon credits and emissions costs, and apply for exemption, and/or free carbon credit allocations.

 

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