With the recent ETS scheme changes in New Zealand, the introduction of a carbon price in Australia on 1 July and finally some recent movement in International carbon prices, there is now considerable uncertainty in the carbon landscape, particularly for those looking to offset emissions by operating in the carbon forestry sector.
New Zealand, the only country outside Europe with a comprehensive ETS, announced last week amendments to its own Emissions Trading Scheme (ETS). In short, it’s pushed out both the dates and levels at which the country will face higher carbon costs under its ETS. The business community thinks the ETS changes are reasonable.
For forestry though the response has been less enthusiastic. In its announcement the Government had turned down recommendations from the review committee to restrict the purchase of international carbon credits by New Zealand emitters. The decision has been described by one trader as "burying New Zealand's carbon market in a six-foot hole".
With significant and on-going changes in the local and international carbon trading markets interest is already very high for this regions’ annual carbon update, Carbon Forestry 2012 which runs at the Crowne Plaza Hotel in Auckland on 22-23 August 2012.
With uncertainty set to continue the stage is set for those in the business to improve their knowledge of options open to them and how to improve their own company’s exposure or minimise risk with this asset class. This annual conference is recognised as the key information portal for those with an interest in climate change, carbon and forestry.
International experts will be joined by local analysts to provide up-to date guidance and market knowledge to investors, Maori authorities and land-owners, carbon emitters, forest owners and other businesses associated with the business of carbon and carbon trading.
The Hon Tim Groser, Minister for Climate Change Issues will open Carbon Forestry 2012. To provide an insight into what’s happening in Europe and the likely impacts on pricing and trading in this part of the world, a global review of carbon markets will be given by Rob Fowler, Australian/New Zealand representative, International Emissions Trading Association and Dr Mark Broadmeadow, Climate Change Manager for the Forestry Commission in Great Britain.
For Australia, where both countries are looking at aligning their respective schemes at some time in the future, details on the impact of Australian carbon policies and the operation of the carbon farming initiative will be given by Mike Tournier, Executive Director, Carbon Market Institute and Jennifer Lauber Patterson, Head of CMIA (Australia & New Zealand).
Local insights on carbon market changes will also be given by a raft of leading traders, forest and land owners and analysts.
For more information on the programme or to register for the conference, go to www.carbonforestryevents.com or contact the Forest Industry Engineering Association Office in Rotorua on Ph: +64 7 921 1382.