Govt Supports Voluntary Nature Credits
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.
https://www.beehive.govt.nz/release/government-backs-voluntary-nature-credits