A major Japanese bank has come back for a second helping of New Zealand forestry credits. The deal, finalised last week, is being seen as a positive step in the developing international market for New Zealand’s forestry credits.
Statement of principles catalyst for Tasmanian pulp mill project
Australian forest company Gunns Ltd, which is planning to build a new giant pulp mill on the Australian island of Tasmania, possibly in collaboration with Swedish Södra, welcomes a historic forest statement of principles, which was announced yesterday.
In New Zealand, where the sheep outnumber humans 9 to 1 and National Lamb Day is celebrated every Feb. 15, a carbon emission trading system that kicked off in July is upending the economics of sheep farming, a once crucial sector of the economy. Sheep farmers are walking away from the business of selling wool and lamb chops and are converting their grazing lands into tree farms that could prove valuable when the country's agricultural sector is forced to pay for greenhouse gas emissions starting in 2015.