SECTOR RURAL
New ETS accounting method and implications for land transactions
Oliver Hendrickson, Director Forestry & Land Management, Te Uru Rākau — New Zealand Forest Service
The Government recently made announcements on the key settings for averaging accounting. The new carbon accounting approach fundamentally alters how many carbon credits a newly registered post-1989 forest will earn in the Emissions Trading Scheme (ETS). It will be mandatory from 1 January 2023, but there are options for forests registered between 1 January 2019 and that date. It is important for people promoting property sales to understand how averaging accounting for forests in the ETS applies to specific land.
26
|
The Real Estate Institute of New Zealand