On Oct. 14, Carbon Match discussed planned reg duplication reduction.
Carbon Match said Forestry MinisterTodd McClay announced the establishment of a Forestry Sector Reference Group to drive better outcomes from forestry emissions trading scheme (ETS) registry, to provide greater transparency and help reduce costs.
The establishment of the reference group follows an independent review of the operational costs of the forestry ETS register, which was published in Jun. 2024.
McClay agrees with the forestry sector that the cost of NZD 30.25 per hectare annual levy for participation in the registry is unreasonable; he explained that the reference group is part of the response to reduce costs, as well as drive greater efficiency.
Group will also help prioritize work that can reduce unnecessary reg duplication in ETS registry; NZ GVT has canceled 2023/24 annual charge for participation in ETS registry.
Next Steps
NZ GVT will shortly consult on a new forestry ETS registry levy for FY 2024/2025.
Dec. 2024 NZ GVT Annual Charge Reduction
On Dec. 17, 2024, NZ GVT, Carbon Match confirmed reduction, from NZD 30.25 to 14.90 per hectare, in annual charge for forest owners participating in forestry ETS.
A broader review of the relevant cost recovery settings is to be completed in 2026.
New charge is effective Jan. 2025, with invoicing starting Feb. 2025.
