Understanding the Temporary Adverse Event Suspension for ETS-Registered Forests
If you have an ETS-registered forest which was severely damaged or destroyed by a natural loss event, such as fire, wind or landslips, then under ETS rules this is regarded as an emission for which you would normally have to pay back carbon credits. However, as of the start of this year, if certain criteria are met, you can instead apply for a “Temporary Adverse Event Suspension” (TAES). If your application is approved, you won’t need to pay back credits but the affected part of your forest will stop earning credits until it is re-established (replanted or regenerated), and achieves the same level of carbon storage it had before the loss event.
For example, in the case of 20-year-old trees that were windthrown during Cyclone Gabrielle and will get replanted with the same species next year, the pause would be 20 years plus 1 year for the replant interval = 21 years.
Criteria that need to be met:
- The natural event must have occurred after 31 December 2022
- The affected area must be contiguous and at least 1 hectare in size
The ETS team at PF Olsen can help you with your TAES application. Among other things, the application will involve calculating an emissions return and obtaining orthorectified aerial imagery of the affected area. The cost of this work will depend on the size and location of the affected area.
There is no mandated timeframe for lodging TAES applications, however, Te Uru Rākau recommends that they be lodged as soon as possible after a loss event has occurred.
Further background reading on the Temporary Adverse Event Suspension