Crown Forest Licensed land
What is Crown Forest Licensed (CFL) land?
Between 1990 and 1992 the Crown sold the majority of its exotic plantation state forests but retained the land for use in future Treaty of Waitangi settlements. This land is now Crown Forest Licensed (CFL) land.
How are future CFL landowners affected by the ETS?
CFL land is predominantly (if not exclusively) pre-1990 forest land. Under the Emissions Trading Scheme (ETS), owners of pre-1990 forest land can get an allocation of New Zealand Units (NZUs).
See Forestry allocation: NZUs for pre-1990 Forest for more information.
Establishment of the Forestry Emission Unit Trust (FEUT)
The Minister for Climate Change Issues established the FEUT under section 73 of the Climate Change Response Act 2002. The FEUT is required to apply for an allocation of NZUs on behalf of future owners of eligible pre-1990 CFL land and to hold those NZUs on trust until the ownership of CFL land is transferred to iwi under relevant Treaty of Waitangi settlement legislation.
The Minister’s appointment of trustees to the FEUT was notified in the New Zealand Gazette No 55 on 21 April 2011, and the Deed for the FEUT was published in a supplement to the Gazette on 26 April.
How long will the FEUT operate?
The FEUT will be required until the ownership of all remaining Crown forest licensed land is resolved through the Treaty Settlement process. This is anticipated to be completed by 2017.
See factsheet (PDF, 544 KB) for more information.
Last updated: 16 December 2011
