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The Permanent Forest Sink Initiative (PFSI) promotes the establishment of permanent forests on un-forested land.
It offers landowners of permanent forests established after 1 January 1990 the opportunity to earn emission units for the carbon absorbed by their forests since 1 January 2008.
To be eligible, the forest must be "direct human induced .... through planting, seeding and/or the human-induced promotion of natural seed sources".
PFSI participants enter a covenant with the Crown which is registered against their land title(s). The covenant is in perpetuity, with the right to terminate after a minimum term of 50 years. Landowners are responsible for establishing and maintaining the forest. Limited harvesting is allowed on a continuous cover forestry basis. To register, landowners need to complete an application form and forest sink plan.
The PFSI is complementary to the forestry in the New Zealand Emissions Trading Scheme (ETS). Landowners should also consider their options under the ETS.
The Field Measurement Approach (FMA) is compulsory for all forest owners with 100 hectares or more in either the ETS or PFSI. FMA details can be found on the Field Measurement Approach page.
The Permanent Forest Sink Initiative is currently under a Review by Government to address a range of improvement options. A period of general consultation and engagement will run until early September 2013. The Review will also address recommendations made in the 2011 review of Afforestation Schemes.
For more detailed information on the PFSI, or to find out about the current review process, please email PFSI@mpi.govt.nz, or phone 0800 CLIMATE (254628).
Subscribe to Sustainable Forestry Bulletin to receive updates on carbon forestry, and forestry in the Emissions Trading Scheme.