Forestry Carbon not being traded by government

The State is not trading Carbon in farmers forests

Oct. 14, 2021

Minister McConalogue has clarified his departments stance on the ownership claims on private forestry carbon and the trading of those potential credits.

There is a viable voluntary market that can provide a platform for private forest owners to trade to a private company. It is important to ensure there is no double accounting.

In todays Farmers Journal, Donal Magner wrote that Minster McConalogue clarified the position to the IFJ and states "I want to be clear that the state is not trading or seeking to trade the carbon sequestered in farmers forests. We are however, obliged to report and account for all greenhouse gases here under our international obligations and this includes sequestration and emissions from forestry."

"THIS DOES NOT IMPLY OWNERSHIP", He continues, an important point!, "but simply reflects the requirement for those reductions and emissions to be included in the State's climate inventory." Obviously this has been broadly welcomed by all private forest owners and those considering the establishment of a private forest. The potential for Carbon to add significantly to their earning power and returns from forestry are immense and we believe will lead to an increased interest in the afforestation program.

Now all we need is a forest service that can deliver licences and a program.