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Changes to the scheme by the previous Government his Maori landowners hard, with the value of carbon credits plummeting and little incentive for forest owners to replant.
Forestry Minister Shane Jones and Climate Change Minister James Shaw have released a consultation paper proposing 12 changes.
Mr Jones says making the ETS work better is key to expanding the industry’s capacity, which is essential to the success of the one billion trees programme.
As well as correcting technical issues or addressing areas where the regulations aren’t working as intended, the changes will close a loophole related to the deforestation of post-1989 forest, and its subsequent replanting and re-entry into the scheme.
Submissions are open until July 3.
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