as from the 1st January 2023 forests in the ETS scheme will no longer have to surrender NZUs if they have an adverse event (Fire, wind or other insurable event types) so long as they replant. The replant can also be at a different location.

 

The Temporary Adverse Events Exemption (TAE) will apply to all post-1989 forests registered in the NZ ETS. This includes forests registered under the existing post-1989 NZ ETS stock change option, and forests registered in the Permanent Category or under averaging accounting when they become available from 1 January 2023. MPI 23/03/2022

 

This means we will no longer be renewing or accepting any new carbon risks, we will still continue with any current policies until expiry.

 

Visit the MPI Updates & Changes to the ETS site:

https://www.mpi.govt.nz/forestry/forestry-in-the-emissions-trading-scheme/updates-and-changes-to-the-ets/