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Government Sets Out Next Steps For On-farm Sequestration Strategy | Scoop News – Scoop

Rt Hon Jacinda Ardern

Prime Minister

Hon
Damien O’Connor

Minister of
Agriculture

Hon James
Shaw

Minister of Climate
Change

· Government to work with primary
sector on developing a sequestration strategy

·
Government confirms today it will bring all scientifically
robust forms of sequestration into the Emissions Trading
Scheme, starting from 2025.

· This will be done at
full value, rather than at a discount, so farmers can
realise the true potential of the vegetation on their
farms.

Prime Minister Jacinda Ardern, Agriculture
Minister Damien O’Connor and Climate Change Minister James
Shaw have confirmed the next steps in the Government’s
partnership with the primary sector to develop a strategy
for on-farm carbon sequestration.

The recognition of
on-farm sequestration will be a core component of the
Government’s work to reduce New Zealand’s agricultural
climate emissions.

“We want a plan for reducing
agricultural emissions we can all agree on. We’ve heard
sequestration is a top priority for farmers and critical to
making He Waka Eke Noa work,” Jacinda Ardern
said.

“The Government has already committed to
sequestration being recognised and compensated for from
2025. The He Waka Eke Noa partnership, the Climate Change
Commission, and the Government all agree that it needs to be
done in a way that is fair, cost-effective, and
scientifically robust.

“The recent consultation
process has highlighted how important the issue of
sequestration is to farmers. This is work we already had
underway, but next step will be to work closely with farmers
to develop the scientific, and policy approaches needed to
best recognise sequestration that occurs on
farms.

“The best way to achieve sustainable
emissions reduction is by working together. The Government
remains committed to He Waka Eke Noa and we are pleased to
undertake this important work on sequestration with farmers
to help deliver it,” Jacinda Ardern said.

“The
industry has asked for a plan that covers all forms of
scientifically robust sequestration possible on-farm, and we
support that. There is more work to do, much of it
technical, but today we affirm that this will be undertaken
in close partnership with the sector” Damien O’Connor
said.

“The sector partnership recommended that the
Emissions Trading Scheme be improved and updated to allow
more vegetation categories to be included and that
vegetation types eligible under He Waka Eke Noa could be
transitioned into the NZ ETS as it is expanded and
improved.

“This builds on the Government’s
commitment to establish native forests at scale to develop
long term carbon sinks and improve biodiversity,” Damien
O’Connor said.

“What we are proposing represents a
significant shift in the way the Emissions Trading Scheme
works,” says Climate Change Minister James
Shaw.

“It means farmers will get full recognition
for scientifically proven sequestration on their farms. This
should unlock a wave of research, science and innovation
into forms of emissions removal that also enhance
biodiversity and other important values that aren’t always
achieved through exotic forestry
plantations.

“Bringing new categories into the ETS
may take some time, so there will also be a need to ensure
transitional arrangements from 2025.

“In-line with
the Primary Sector Partnership’s original proposal, the
Government is committed to sequestration being recognised
from 2025,” James Shaw said.

Notes to
editor:

  • The s215 Report on emissions pricing
    will be published by the end of 2022. A series of policy
    decisions on He Waka Eke Noa will be made in early 2023 with
    the aim to introduce legislation by the middle of the
    year.

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