Minister: Partners made progress with carbon trading

Business

OUTGOING Minister for Forestry Walter Schnaubelt says the PNG Forest Authority (PNGFA) has made progress with the Conservation and Environment Protection Authority (Cepa), Climate Change and Development Authority (CCDA) and the private sector in the advancement of carbon trading and issuance of associated permits.
Schnaubelt said the progress was made while protecting the local manufacturing industry.
“Manufacturing businesses still need a pathway where they can procure carbon credits and service PNG’s needs and international export markets while at the same time giving PNG the opportunity to derive monetary benefits from the international trading of carbon credits,” he said.
He said PNGFA’s initiatives endorsed by its board has resulted in the successful signing of a heads of agreement with:

  • Landowner consent;
  • a tripartite agreement signed between landowners; and,
  •  PNGFA and the developer (with written provincial governor support).

He said this lead to specific legislative directives and reclassified forest concession trading permits being issued.
“With landowner and provincial government consent, the reclassification of forest management agreement areas that were slated for logging are now to be classified in effect as carbon estates/concessions,” he said.

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