Drylandcarbon has entered into a contract to purchase a block of marginal land near Wairoa in New Zealand which it says demonstrates a constructive approach to carbon farming, the retention of pastoral grazing land and the preservation of rural communities. Source: Timberbiz
Drylandcarbon is a partnership set up in 2019 to invest in forestry across New Zealand to offset emissions for its four investors: Air New Zealand, Contact Energy, Genesis Energy and Z Energy.
Executive Director, Ant Beverley, said Drylandcarbon was a highly distinctive forestry partnership and its first land acquisition showcased its commitment to targeting the right type of land for forestry and its commitment to supporting rural communities.
“Te Puna Station near Wairoa is a 1600-hectare property which, for the most part, is steep, erosion-prone and economically marginal land on which permanent forestry is perfectly suited to deliver significant environmental benefits,” he said.
Mr Beverley said this type of land was not suitable for harvest, but was suitable for permanent forests.
“Our plan for this property takes care to only plant exotic species on those areas of the property that are suitable, and to retire the balance of the land to regenerate for longer-term indigenous forest restoration,” he said.
“During negotiations to purchase the property, it also became clear that there was an opportunity for Drylandcarbon to retain a viable area of pastoral land for farming under a long-term lease by the current farm manager. Achieving this outcome will avoid the risk that the manager and his family could be displaced by the sale of the property,” he said.
“This is a positive outcome which sees land used appropriately, jobs protected within the rural community and the more productive land being retained for farming.”
Mr Beverley said forestry has a critical role to play in helping New Zealand achieve its climate change commitments and Drylandcarbon shares concerns that better pastoral land should be retained for farming and that only certain land is suitable for forestry.
“This is a great example of getting the balance right and planting the right tree in the right place,” he said.
“Drylandcarbon is committed to land acquisitions and carbon farming partnerships with farming families that protects jobs on productive pastoral land, drives environmental improvements from economically marginal land and provides an opportunity to provide stable income streams for rural families and communities.
“We will continue to look for and develop win-win solutions that see suitable marginal land planted and productive land retained and farmed for the benefit of our economy and rural communities.”
Approval for the transaction was required by the Overseas Investment Office despite Drylandcarbon’s major investors being four New Zealand listed companies; two of which are majority Government-owned.
