PNGFA Progresses Carbon Trading

Outgoing Minister for Forests, Walter Schnaubelt has confirmed that the PNG Forest Authority (PNGFA) had made material progress on carbon trading with two key government agencies and stakeholders.

This includes Conservation and Environment Protection Authority (CEPA), Climate Change Development Authority (CCDA) and the private sector in the advancement of carbon trading and issuance of associated permitting. 

“This progress was made while ensuring the local manufacturing industry in the carbon constrained world evolving, factors PNG’s own industries have a platform to be competitive. 

“Manufacturing businesses still need a pathway where they can procure carbon credits and service PNG’s needs and international export markets whilst at the same time giving PNG the opportunity to derive monetary benefits from the international trading of carbon credits,” he said.

Mr Schnaubelt confirmed that 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, PNGFA and the developer (with written provincial governor support), where specific legislative directives and reclassified forest concession trading permits were 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. 

“This demonstration is what international accreditation groups and the buyers of carbon credits need to see being should the reclassification not have occurred, these areas were slated for logging and would have ended up logged and thus the carbon lost. 

“This legitimate preservation can be audited and verified as the starting process in seeking carbon inventory accreditation by internationally recognised bodies. On the co-ordination front we have arrived on a joint position paper with CEPA / CCDA on how inter government agencies work alongside one another so legislative provisions in the forestry and CCDA act are adhered to and reclassification can occur whilst fostering specific Forest areas,” he said. 

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