Ebex21 News

EBEX21® Newsletter Issue 16, April 2011

Preliminary assessmentIn this issue:

EBEX® sells Kyoto Compliant-Credits

We have been working closely with a group of property owners and the Ministry of Agriculture and Forestry (MAF) over the last year. Most of these properties have now completed the Permanent Forest Sink Initiative (PFSI) application process and have PFSI covenants registered on their land. From these properties we have already traded over 6000 Kyoto compliant credits (AAUs). We have also completed a number of Preliminary Assessments which are designed to inform landowners about the potential size of their carbon asset without committing landowners to participation (see our website for an example of a Preliminary Assessment).

Policy Update

Default rates for carbon sequestration

There has been a change in MAF’s default rates for carbon sequestration. From the 1st of October new look up table values, which are based on the age of the forest, replaced the existing default rate of 3 tonnes/hectare. EBEX considers that the values from the table for indigenous forests are too high in most instances and landowners therefore need to take steps to mitigate potential liabilities that may occur at the time of site audit for sites larger than 100 hectares. If during future measurement the forest has not sequestered as much carbon as MAF’s table suggests, the landowner will be liable to repay the extra credits.

Field Measurement Approach (FMA)

MAF is making progress with implementing a new Field Measurement Approach. The FMA determines how sites will be measured where the forest sink area is greater than 100 hectares. Consultation occurred in late 2010 and MAF expects the FMA to be in use from the middle of 2011. EBEX made a submission with the following key requests.

Review of all afforestation schemes

MAF is also currently undertaking a review of all forestry schemes concerned with the allocation of carbon credits. EBEX made a submission on the PFSI only, which is summarised below. We have also appeared in person before the MAF Review team to speak to our submission. (If you wish to see the full submission please contact us).

The PFSI leads the international arena for forest carbon credit allocation. It should be viewed as the flagship of New Zealand’s forestry solutions because of its credibility in both the voluntary and regulatory markets. Minor changes to its operation would enable realisation of the conversion of at least 1 Million ha of marginal land to new indigenous forests. We outlined a suite of measures that shift the emphasis of the PFSI to that where fewer credits are devolved with more credibility and with significantly less risk for landowners.

Farewell to Melissa

Melissa Brignall-Theyer

Recently we have farewelled Melissa Brignall-Theyer as part of the EBEX team. She was a highly valued member and will be missed. We wish Melissa all the best for her future endeavours– for now Melissa wants to concentrate on her family including the newest addition!

A final comment from Melissa: I have really enjoyed working for EBEX over the last few years. I have had a lot of great conversations with many landowners, and working with them to allow their land to regenerate naturally has brought me great pleasure. I will miss the relationships we have developed. Good luck to you all and Happy carbon farming!

EBEX credits - What makes them special?

Our credits are:

Kyoto compliant   The Government uses the PFSI to issue credits (AAUs), an internationally recognised credit unit.
Permanent   The PFSI requires a covenant be placed on the forest sink area.
Additional   Under the PFSI all forests must be additional (i.e. must have established since 1990).
Monitored   All sites are monitored once every five‑ten years.
Increasing biodiversity   The EBEX monitoring includes a measure of biodiversity.
Controlling erosion   Natural regeneration permanently stabilises land as it will never be cut down.
Improving water quality   Natural regeneration reduces runoff into water catchments, which improves the water quality.
Not harvested   No harvesting is allowed under our contracts with landowners.
Sustainable   As previously described these credits provide multiple and national benefits. They have multiple environmental benefits, while providing an income stream.
NZ made   Buying our credits supports local landowners while reducing the effects of climate change and increasing native forests in New Zealand.

How do they compare to other carbon credits?

Because we don’t plant trees, there are no emissions associated with the establishment of our forests. The land is simply allowed to revert back to native forest.

Below is a table comparing EBEX credits with other NZ forestry credits.

Quality components EBEX credits Other PFSI credits ETS credits
Kyoto compliant Yes Yes Not necessarily
Permanence Yes Yes No
Additionality Yes Yes Not necessarily
Monitoring Yes Not necessarily Not necessarily
Biodiversity measure Yes No No
Erosion control Yes Yes Until harvest
Improved water quality Yes Partly Until harvest
No Harvesting Harvesting not allowed Harvesting allowed Harvesting allowed
Units cancelled Yes No No

Afforestation Grant Scheme 

The next tender closes 30th April 2011 for afforestation projects commencing in 2012.

Call for new sites

Over the years many landowners have contacted EBEX and expressed their intention to allow some of their land to regenerate into native forest in perpetuity and gain some income from it by selling carbon credits. The time has come to review your site and see if EBEX may work for you. If you are interested and believe your land is eligible, or if you are already registered and wish to proceed with an estimate of how much of your land is eligible, please contact us (see our website for eligibility criteria, or if you don’t have internet access phone us). Please leave a message on our answer machine or email us and we will contact you within a few days (see contact details below).

Enquiries:

Please contact Elise Arnst, 03 321 9654, or email ebex21@landcareresearch.co.nz

ISSN 1178-9190

 

Newsletter content copyright © Landcare Research 2018
ISSN 1178-9190

Enquiries:
Please contact May Chang, 03 321 9831, or email ebex21@landcareresearch.co.nz
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