Published 5 February 2010
Environment Minister Nick Smith yesterday commended Puketapu 3A Incorporation and Mighty River Power Ltd on their 2400ha Taupo forest proposal to reduce carbon emissions & nitrate run-off.
Dr Smith said: "This innovative agreement perfectly illustrates the benefits of the Government’s emissions trading scheme and its support for the Lake Taupo Protection Trust. It also demonstrates the importance of the relationship between the Crown & Maori on afforestation.
"The emissions trading scheme provides the financial incentives for landowners to improve the environment by planting trees and reducing nitrate pollution.
"The parties in this afforestation project have made it plain it would not be occurring if the Government had not settled the emissions trading scheme last year. This complex scheme encourages those that burn fossil fuels to contribute to forest planting.”
Dr Smith said more than 65,000ha of forest had been lost over the last 5 years “due to uncertainty & perverse incentives under the previous government to deforest. A key objective of the emissions trading scheme is to boost forest planting and this deal in Taupo – so soon after the legislation was passed – is a clear sign that is happening.”
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Attribution: Ministerial release, story written by Bob Dey for the Bob Dey Property Report.