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 2017-18 year the net balance increased to 1.82 million tonnes of carbon.
During 2016-2017 all post-89 carbon measurement (FMA) plots were remeasured. Following the re-issuing of new carbon yield tables in late 2017, and at the conclusion of 5-year committment period #2, we received an extra allocation of 311,000 NZUs for the net additional carbon sequestered by our post-89 forests during the 2013 to 2017 years.
The company started carbon trading in 2010 under the New Zealand Emissions Trading Scheme. To date we have achieved nett sales of approximately $24.4 million.