The deadline may have passed but we’re still fighting for 2018-2022 carbon credits.
As reported previously, the ETS regulator’s provisional deadline for registering forest in 2022 has now passed, but all is not yet lost!
Our message to landholders: You still stand a fair chance of being accepted in 2022 and claiming backdated credits for the period 2018-2022. There’s nothing to lose - and lots to gain - by getting your application submitted as quickly as possible.
You can find more background on the ETS deadline in our previous posts, but here are the essentials:
When you submit your forest for ETS registration, the government regulator must process and approve your application before you can claim carbon credits.
In March the Ministry for Primary Industries (MPI) asked landholders to file their applications before April 30th 2022 in order to be processed by the end of 2022, indicating that applications received after this date were increasingly unlikely to be processed in time.
Forests registered by the end of 2022 can claim carbon credits for the period 2018-2022, in addition to carbon credits from 2023 onwards. This means that a vast number of credits are currently at stake across New Zealand.
Why does registration in 2022 matter so much?
For many landholders, the carbon sequestered by their forests during the period 2018-2022 is worth a substantial amount of money. If the forest isn't registered in 2022 they will lose the entitlement to this carbon forever.
Say that your native forest would have earned carbon credits worth $800 per hectare, per year, between 2018-2022. A block of 30 hectares would miss out on $120,000!
Challenging the deadline
We don’t think it’s fair that Kiwi landholders restoring native forest will miss out on the carbon credits they’re entitled to, simply because the regulator is struggling to process applications quickly enough – especially when the majority of those applications are for exotic forests owned by big forestry companies.
Closing the door on applications eight months before the end of the year seems like an unreasonable timescale to us, so we’re campaigning for a deadline extension to allow more landholders to receive the credits they deserve.
Along with other partners, CarbonCrop is also advocating for a fast-track system to prioritise native forest applications and increase the chance of success for landholders with native regeneration.
At CarbonCrop we believe that native forest regeneration is much better for biodiversity and climate resilience than exotic monocultures. That’s why we want to see more of these reforestation projects supported and recognised
In a nutshell, we’re doing what we can to challenge the deadline and increase your chance of getting carbon credits. But if you want to have a shot at claiming your backdated credits for 2018-2022, you need to be in it to win it.
What does this mean for landholders with eligible forest?
Our message is simple: If you want to register your forest, act now.
Why choose CarbonCrop?
We offer a free initial assessment to find out your eligibility for carbon credits.
We don’t charge upfront fees; we take a small percentage of your credits when you’re successfully registered and earning carbon credits.
We use artificial intelligence (AI) to help us assess forest carbon quickly and accurately, without needing to visit your property.
Even if you miss out on backdated credits, you’ll still earn carbon credits in the future.
The sooner we submit your application, the better chance you have of being registered in 2022.
What have you got to lose? Apply for a free Land Assessment today
We remotely analyse your forest’s eligibility for the ETS (with a little help from our AI) and calculate how much your credits could be worth if you register.
There’s no cost and no requirement to proceed with registration.