Despite yet another apparent derailment of the Emissions Trading Scheme (ETS) after last year's election and appointment of a National-led Government, the ETS with regards forestry, is up and running and several important deadlines are looming. These are covered in Clarky's Comment and Forestry in the Emissions Trading Scheme.

Meantime, a Select Committee is reviewing the ETS. The terms of reference for the Committee is broad (see Terms of Reference).

The forestry sector finds itself in a difficult position of being in the ETS with its related obligations, but also the ETS being subject to broad-based review by a Select Committee. PF Olsen understand that this is very confusing for many forest owners, and we are working hard to crystallize out the critical action points that forest owners need to take to ensure they don't get caught out and that they make the most out of any opportunities available.

In the article Forestry in the Emissions Trading Scheme we cover some to the critical obligations and opportunities in more detail. As Peter Clark points out in Clarky's Comment we will be writing personalised letters to all PF Olsen management clients explaining their options and what action they can take. If you do not receive such a letter but would like to, please contact your local PF Olsen representative or call FREEPHONE 0508 PFOLSEN (0508 736 5736) or e-mail us at info@pfolsen.com.

Our other piece on the topic of carbon is to update you on the Voluntary Market. Regrettably, despite considerable effort by PF Olsen, we were unable to materialise any value from this project for post-1989 forest owners. We also remind you of an important Afforestation Grant Scheme deadline.

Peter Clark and Peter Weblin visited China in mid January. This was a follow up visit to a small volume of log sales PF Olsen has made direct to Chinese end-uses through NZ-based Chinese nationals. We also promoted NZ Radiata pine clear timber (to substitute for South-East Asian hardwood). See China Trip Report.

Other features in this edition of Wood Matters include a successful 2009 Safe Start programme and an update from Kit Richards on Forest Stewardship Certification (FSC) and the Kiwi programme.