Source: New Zealand Government
The Government is supporting the expansion of a voluntary credits nature market through the running of pilot projects across New Zealand. Establishing a market that is durable, measurable and transparent will help farmers, landowners, iwi, and conservation groups unlock new income streams for looking after nature on their land, Associate Minister for the Environment Andrew Hoggard announced today at Fieldays.
“We want to connect those caring for the land with investors who support conservation. Nature credit markets help fund trusted environmental projects that actively protect and restore ecosystems.”
Mr Hoggard said international and domestic investors—including corporates, banks, and philanthropists—are seeking high-quality nature and carbon credits that meet global standards. The development of a nature credit market is important to investors and New Zealand’s reputation.
“New Zealand companies spent millions on carbon and nature credits mainly offshore last year. With the right framework, we can keep more of that investment at home.”
The Government moved quickly to repeal the previous Government’s direction to Councils to identify and map Significant Natural Areas (SNA) by suspending parts of the National Policy Statement – Indigenous Biodiversity.
“Farmers and other private landowners are doing their part to protect native biodiversity and want to do more. Supporting voluntary natural credits markets is a chance for the Government to show them the carrot, not just the stick.
Privately funded pilot projects are underway to test how nature credit markets can work in the New Zealand context. As part of these pilots, we will test the role for Government which may include setting principles, and a framework for standards, to build market confidence and ensure quality.”
Further details on the Government’s role and the design of the expanded market will be announced in the coming months.
Information about voluntary nature credits market pilots
The pilots represent different land conditions, locations, types of market participants, and activities. They will help the Government understand how to meet the high standards of international markets, the role of Government, and what works best in New Zealand. This real-life experience will provide valuable insights as we move to the next stage of market design.
- Te Toa Whenua Northland, led by Reconnecting Northland. Transitioning around 100 ha from exotic forestry to native including pest control on iwi-owned land.
- Waituna Nature Credits Prototype Southland, led by Whakamana te Waituna Charitable Trust (Awarua Rūnunga, Ngai Tahu, Fonterra, Southland District Council, Environment Southland, and Department of Conservation). Restoring 400 ha of farmland at lagoon margins to lowland forest & wetlands (RAMSAR protected site).
- Waimanu Forest Gisborne Led by Aratu Forests. Converting a commercial forestry block to 50 ha of natives for biodiversity uplift and increased recreational and educational values. Scope to expand to up to 5,000 ha.
- Sanctuary Mountain Maungatautari insights Waikato, led by Sanctuary Mountain Maungatautari. Observing the current process of issuing credits for conservation and protection activities within the 3,360 ha inland ecological sanctuary.
- Existing Biodiversity Credits Market (BCM) project standard insights Led by Ekos. Offering market insights from an existing BCM provider. Includes understanding the journey of Reconnecting Northland’s proof-of-concept project through this process.
- Adapted nature credits international standards Led by Boffa Miskell. Testing at-place an additional NZ BCM project standard that is adapting UK methodology to NZ environments as a competitor to domestic or international project standard/certification providers.
- Voluntary carbon market standard with biodiversity safeguards insights Led by AsureQuality. Testing its carbon project standard, which requires native revegetation, designed to be more applicable and affordable for the New Zealand context.
- Nature positive credit programme pilot Led by Silver Fern Farms. Testing a processor-led programme for market attraction, and potentially third-party investment, in on-farm nature restoration and enhancement activities that support commercial ‘nature positive’ claims.
- Nature-based markets pilots for rural landowners Led by Pāmu Farms. Exploring pathways to make nature-based markets accessible to a range of New Zealand farmers and landholders.
