75703 (2024). Lan Pham to the Minister of Forestry

75703 (2024). Lan Pham to the Minister of Forestry: What estimates, if any, are kept on the potential liability to foresters from natural hazards resulting in carbon reversals?

Hon Todd McClay: Through the New Zealand Greenhouse Gas Inventory, the Ministry for the Environment reports nationwide information on the ‘baseline’ natural disturbances and will report the effects of larger scale natural disturbances. The Emissions Trading Scheme contains two rules which relate to the potential liabilities for carbon to forests from natural disturbances: 1) If a natural disturbance prevents the re-establishment of forest the forester is not liable for these emissions; and 2) If there is a temporary adverse event (for example, a fire) post-1989 forestry participants can apply to suspend their liabilities and entitlements, provided the forest is re-established and returns to the pre-event carbon stocks. Since the temporary adverse event suspension rules came into force on 1 January 2023, MPI has received and approved six applications covering 875 hectares. This area has a maximum liability of 247,382 units.