Monday, September 04, 2006

A quick update on my June post about the sale of Graeme Hart's CHH forestry estate: today the Commerce Commission announced that Global Forest Partners have applied for clearance to buy. Yep, they're a US company. But they're also quite good forestry investment managers - aswell as being a partner to The Conservation Fund.

This comes on the back of news last week that the Government will proceed with its' "permanent forest sink initiative" as a means of meeting its Kyoto Protocol obligations.

This development offers a potential lifeline to erosion prone marginal land. Felling is proposed to be allowed only on a continuous canopy basis (as opposed to clear-fell) so it looks like native re-forestation will be an attractive option. Land owners will be able to sell credits associated with the carbon storage of their plantings.

More planting means less storm erosion, which means a pretty Wellington harbour rather than one that resembles an open sewer.

Oh, the image is from Kiwi Conservation Club. It depicts native forest cover in 1840.

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