Recloaking Papatūānuku was officially presented by Pure Advantage and WWF-New Zealand to a global audience at COP28 in Dubai as a New Zealand initiative developed to help counter the climate and biodiversity crisis. Source: Timberbiz
The initiative was commended by the international audience in attendance. Pure Advantage Executive Chair Simon Millar believes the event represented a positive shift for New Zealand’s global reputation, after the country was given a Fossil of the Day Award earlier at COP28.
The presentation was supported by leaders from both sides of the political spectrum, with a speech from the new Minister for Climate Change Simon Watts and his predecessor, James Shaw on the panel.
In his speech, Minister Watts said New Zealand is facing major environmental challenges, not only from climate change, but also from a loss of biodiversity.
“We need to acknowledge there is a sense of urgency that is required in regards to dealing with this challenge.
“We need to make sure that the seeds we plant today, are able to flourish and allow us to get to where we need to get to in the future. We’re definitely discussing and have committed with officials to look and start discussions with my colleague Ministers in regards to this initiative over the next couple of months.
“I welcome new ideas such as this that will help us get through our climate and biodiversity crisis. I thank Pure Advantage for your work and your leadership in putting forward Recloaking Papatūānuku for our consideration.”
In the panel, Green Party Co-Leader James Shaw recognised a large-scale Indigenous forest initiative like Recloaking Papatūānuku is a long-term investment that would make a difference to the third, fourth and fifth Nationally Determined Contributions (NDC) and beyond.
“When those trees grow to maturity, that could be the difference between having to buy offshore credits or not.
“If you’re buying those today, if you can get the dead instrument that says you’re buying those today at NZ$36 per tonne, knowing that the probable cost of carbon in the year 2035 or 2040 is NZ$300 a tonne, then you’re making a 90% margin.”
Mr Shaw also recognised that similar projects could be initiated by other OECD countries.
“I think there are lessons to be learned here for the rest of the world.”
The presentation also featured Simon Millar, Dr. Kayla Kingdon-Bebb the Chief Executive of WWF New Zealand, Alice Ruhweza the Senior Director of Policy, Influence and Engagement at WWF International, Keith Tuffley Global Co-Head of Sustainability and Corporate Transitions at Citigroup, and Marama Royal the Chair of Ngāti Whatua Orakei Trust, Co-Chair of Pou Take Āhuarangi Iwi Leaders Group and Climate Change Lead for the National Iwi Chairs Forum.
