ETS costs cut 66% for forest owners – McClay
Additional reductions to costs for forest owners in the Emissions Trading Scheme Registry (ETS) have been announced by the Government.
Beef + Lamb New Zealand released updated independent research by Orme & Associates showing a further 38,921ha has been confirmed as sold since the last report in September 2024.
Revised confirmed sales in 2023 now total 29,518 hectares and in 2024 now 30,483 hectares - that figure is expected to rise as further sales are confirmed.
Sales through Overseas Investment Office approvals and to carbon-only forestry entities continue to dominate.
The total amount of whole sheep and beef farms sold since 1 January 2017 is now over 300,000ha.
B+LNZ chair Kate Acland says the figures reinforce the need for action.
"While we appreciate the Government's announcement this week about legislation being introduced to restrict wholesale conversions based on land use classes, the numbers show whole-farm sales for conversion to forestry for carbon credits are continuing at pace.
"Anecdotally we're still hearing of a significant number of farms being sold this year, despite the Government announcing the limits last year.
"We're concerned that some sales are continuing on the basis of intent to purchase land before the limits were announced. We urgently need the Government to tighten the criteria around proof of intent to purchase."
