REMOVING CARBON DIOXIDE FROM THE ATMOSPHERE
Trees capture the atmospheric greenhouse gas, carbon dioxide (CO2), for photosynthesis, releasing oxygen as a waste product. Photosynthesis is vital for all aerobic life on Earth.
City Forests' is now operating at a sustainable level of harvest. Therefore our total net balance of carbon stored, after harvesting and replanting, will tend to fluctuate around a neutral level. In the 2016-17 year the net balance remained close to the previous level of just under 1.8 million tonnes of carbon.
During 2016 all post-89 carbon measurement (FMA) plots were remeasured. Following the re-issuing of new carbon yield tables in early 2017 we received NZUs for the carbon sequestered by our post-89 forests during the 2015 and 2016 years (over 370,000 tonnes CO2-equivalent).
The company started carbon trading in 2010 under the New Zealand Emissions Trading Scheme. To date we have achieved nett sales of approximately $16.4 million.