Permanent Forest Sink Initiative
The Permanent Forest Sink Initiative (PFSI) is ending after a period of review. Find out what support is available to help you move to the Emissions Trading Scheme (ETS).
Outcome of the PFSI review
The Permanent Forest Sink Initiative (PFSI) was one of the government's sustainable forestry programmes. It enabled landowners to receive units through the creation of permanent forests.
The PFSI and the Emissions Trading Scheme (ETS) were reviewed between 2015 and 2018.
In December 2018, the Government announced it would discontinue the PFSI, and introduce a new permanent post-1989 forest activity into the New Zealand Emissions Trading Scheme to replace it.
What does the discontinuation mean for you?
If your land is currently in the PFSI, you won’t be adversely affected by the discontinuation of the PFSI. Te Uru Rākau – New Zealand Forest Service will contact landowners to advise them about their options, including support to transfer into the new ETS permanent post-1989 forestry activity.
These decisions are intended to greatly reduce barriers to establishing permanent post-1989 forests by:
- making permanent post-1989 forest a more attractive and viable option. It’ll be easier for participants to benefit financially from the carbon stored in their forests.
- offering improvements to address long-standing issues, like not requiring the surrender of units after an adverse event
- simplifying the administration of permanent post-1989 forests for participants and the Government. aligning the administration of permanent post-1989 forests with other types of forest registered in the ETS, for example, so the reporting timelines are the same.
- increasing the amount of permanent post-1989 forest registered in the ETS to reduce the incentive to deforest.
- making it easier for rotation forests to transition into post-1989 permanent forest (for example, if they prove unsuitable for harvesting).
Who to contact
If you’re currently in the PFSI, Te Uru Rākau – New Zealand Forest Service can help you move across to the ETS.
- Email email@example.com
- Phone 0800 00 83 33.