NZ forms Forestry Sector Reference Group to revise Forestry ETS, eliminates 2023/24 fee and plans new levy.

New Zealand's Forestry Minister Todd McClay has formed a Forestry Sector Reference Group to enhance the Forestry Emissions Trading Scheme (ETS) Registry, responding to concerns over high costs imposed by the previous government. The government has eliminated the 2023/24 annual charge for forest owners and plans to consult on a new levy for the 2024/2025 fiscal year. The ETS is vital for meeting emissions reduction targets and supporting economic growth.

October 13, 2024
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