In a surprise move the Government has banned post-1989 forest owners from using Kyoto units when they de-register from the NZ Emissions Trading Scheme.
Until May 16th, post-1989 forest owners were able to voluntarily de-register from the ETS by surrendering cheap units such as Emissions Reduction Units (ERUs). A new law announced in the recent budget banned this practice overnight.
Until the budget announcement, forest owners had been told by Government they had until May 2015 to complete deregistration using Kyoto units. The budget announcement is unprecedented in that private individuals operating within the law stand to lose out significantly in financial terms.
Woodnet is lobbying hard on behalf of clients and all post-1989 forest owners caught out by this change.
Please contact us if you wish to discuss your individual situation.