Permanent Forest Sink Initiative has closed
The Permanent Forest Sink Initiative (PFSI) closed on 31 December 2023. It was replaced by "permanent forestry" in the Emissions Trading Scheme (ETS). This is for forests that won't be clear-felled for at least 50 years.
Find out more about permanent forestry in the ETS
If you had a permanent forest sink covenant, your land has been transferred into permanent forestry in the ETS. If you did not indicate whether you preferred standard or permanent forestry, your land has been transferred into permanent forestry.
About the initiative
The PFSI was one of the government's sustainable forestry programmes. It enabled landowners to receive New Zealand Units through the creation of permanent forests.
PFSI participants entered a covenant with the Crown. Landowners were responsible for establishing and maintaining the forest. Limited harvesting was allowed as long as continuous cover was maintained.
Review and closing
The PFSI and the Emissions Trading Scheme (ETS) were reviewed between 2015 and 2018. Following this review the Government announced it would discontinue the PFSI and introduce a new permanent forest category for post-1989 forest land into the ETS to replace it. The new category became available from 1 January 2023.
Find out more about permanent forestry in the ETS
Who to contact
If you have questions about the PFSI:
- email pfsi@mpi.govt.nz, or
- phone 0800 25 46 28.
