Ngai Tahu faces bill of millions in clawbacks
5 May 2009
Ngai Tahu has become an early example of the peril of ETS clawbacks, with tribal authorities indicating that it might have to pay anything between $40 million and $120 million in clawbacks, depending on the price of carbon at the time.
This is because the ETS penalises owners of pre-1990 forests who have opted into the scheme and who have then cut down their trees – without creating new forests in their place.
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Story copyright © Carbon News 2009
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