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26/03/2019 - Sustainability news

Forestry offsets a good interim solution

The recent report released by the Parliamentary Commissioner for the Environment (Farms, forests and fossil fuels: The next great landscape transformation) provides constructive challenge and food for thought on how New Zealand sets targets and climate policy.

Z’s Sustainability Manager, Gerri Ward, agrees that the burning of fossil fuels needs to dramatically reduce by the second half of the century.

“Z has always known that we cannot rely on offsetting alone to move to a Zero Carbon future.

“The use of fossil fuels needs to, at the very least, reduce dramatically by 2050. This is entirely consistent with our pledge as a founding member of the Climate Leaders Coalition, with Z’s own scenario planning work, and with the Paris Agreement that New Zealand is a part of.

“This is why we have been investing in alternative, cleaner fuels and alternative mobility technologies, with a deliberate strategy on how we prepare for a low carbon future.

“In the meantime, we can’t afford to do nothing about our current emissions.

“Trees sequester carbon, which is why we have, and will continue to invest in permanent forestry as a way to offset Z’s emissions as well as the emissions from the products we sell,” said Gerri.  

Z says that a clear pathway and policy certainty, including transitional policies, will be crucial to giving companies the ability to plan for a Zero Carbon future, while also undertaking immediate mitigation and transition activities.

“We all know that time is running out if we want to keep global warming to under 2 degrees Celsius – we can’t afford to wait for a magic future date to take action.

“We hope to continue to engage constructively with policymakers and be a part of the solution when it comes to transitioning New Zealand to a low carbon economy,” said Gerri.

 

14/03/2019 - General News

Z Energy, Contact Energy, Genesis Energy and Air New Zealand join forces in carbon afforestation partnership

Air New Zealand, Contact Energy, Genesis Energy and Z Energy have today announced the formation of Dryland Carbon LLP (Drylandcarbon), a limited liability partnership that will see the four companies invest in the establishment of a geographically diversified forest portfolio to sequester carbon.

Drylandcarbon will target the purchase and licensing of marginal land suited to afforestation to establish a forest portfolio predominantly comprising permanent forests, with some production forests. The primary objective is to produce a stable supply of forestry-generated NZU carbon credits, but the initiative will also expand New Zealand’s national forest estate. These credits will support the partners to meet their annual requirements under the New Zealand Emissions Trading Scheme.

Drylandcarbon will be managed by Lewis Tucker & Co who will provide management services throughout the life of the partnership. Air New Zealand, Contact Energy, Genesis Energy and Z Energy will not have day-to-day involvement in the running of the business.

Drylandcarbon CEO, Anthony (Ant) Beverley, says the partnership is a terrific example of Kiwi companies coming together for a greater good, and that climate change mitigation and commercial benefit are not mutually exclusive.

“The partnership intends making a serious contribution to the acceleration of afforestation and planting in New Zealand, at a time when carbon sequestration and climate change mitigation are becoming increasingly important to all of us. Drylandcarbon’s afforestation plans are closely aligned to a number of key Government objectives and will deliver a range of environmental and sustainable development benefits to our regions, while also delivering commercial benefit to the four partners over time.

“The portfolio will be initially established with high sequestration capacity exotic species, however,
the majority is expected to consist of permanent forests. The intention is to transition these permanent forests to native forests over the long term.

“Given the potential size of the portfolio, the partnership is well placed to make a real contribution to New Zealand’s broader emission reduction objectives. In targeting some of the more remote and difficult marginal land, Drylandcarbon also anticipates its activities can support improved environmental outcomes in areas needing land use change.”

Drylandcarbon is currently engaging with both farming and regional communities around the establishment of carbon forests on private land.

 

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