Forestry credits plunge under National

A report out today shows just 2 percent of units surrendered under the Emissions Trading Scheme (ETS) in 2012 were forestry credits, down from 64 per cent two years ago, says Labour’s Climate Change spokesperson Moana Mackey.

“This is around a tenth of the number of forestry credits surrendered in 2010 and is further proof the flood of cheap international units (ERUs) is undermining our carbon forestry sector.

The ETS 2012 Factsheet confirms the surrender of ERUs has leapt from zero in 2010 to 70 percent of all units surrendered last year.

“Climate Change Minister Tim Groser has consistently ignored calls to quantitatively restrict the number of these cheap international units – units that are restricted in every other scheme around the world. Today’s figures show the National Government’s failure to act is threatening the viability of our carbon forestry sector.

“National is hugely reliant on forestry to mitigate our ever-increasing gross greenhouse gas emissions. They don’t have any other plan to reduce or mitigate emissions.

“If the Government is serious about supporting the carbon forestry sector, it should pick up my Bill in the members ballot which would require 50 per cent of all units surrendered under the ETS to be New Zealand Units.

“That would bring us into line with overseas schemes and be a good first step towards providing an effective price on carbon that must underpin any serious climate change policy framework,” Moana Mackey says.