Carbon Credit value may jeopardise Māori ventures

Maanu Paul of the Māori council is urging the Iwi leader's forum to work together to provide maximum benefits on Carbon Tax Credits.

The carbon tax credit values continue to drop which is affecting Māori forestry ventures like the CNI.  

There's value in forestry trees based on Carbon Tax Credit, however the value of that credit has dropped from 28 to 7 which means Māori ventures in the industry could suffer.

According to Maanu Paul of the Māori Council the Government is the cause of the drop in value, therefore it is the Governments responsibility to rectify the issue.

Mr Paul feels that Māori groups like his should work together in presenting a plan to the New Zealand government that will see the international market cut out from selling their carbon tax to local businesses so that the value of iwi and local carbon tax credit climbs.

Under the current forestry allocation plan of the Government a total of 55 million carbon credits are issued and once those credits have been issued you can either hold them to build up revenue or sell them and it's the selling option that has the Māori council worried.