Emissions Reduction Plan Funds Big Changes for Agriculture
On the 16th May the government released its controversial and action-orientated Emission Reduction Plan, ERP. It has been considered generous by many that the agricultural sector has been awarded $710 million from the plan.
$339 million for Emission Reductions
$339m is committed to a climate action centre for pastoral farming. This means a concentration on new technologies to reduce emissions, including their R&D and the funding to get them quickly adopted into widespread use.
Much hope lies here in a ruminant livestock emission reduction vaccine. However after 10 years of work, progress remains uncertain, and many critics are questioning further funding in this area. Other examples of the many potential methane-inhibiting technologies that could be adopted include Fonterra’s Kowbucha™, seaweed supplement trials, Bovaer® feed additive and the use of plantain in diet to reduce nitrogen.
While it is controversial that pastoral farming is receiving this much funding from the plan when agriculture remains excluded from the Emission Trading Scheme, progress on pricing agricultural emissions is well underway through He Waka Eke Noa the Primary Sector Climate Action Partnership.
$250 Million for Carbon Sequestration
On the sequestration side of the plan $250m has been committed to forestry and is focused primarily on increasing native forest planting, improving seedling propagation and lowering the costs of establishment. The focus shift here, away from exotics, is largely a result of growing displeasure in the rural sector of increased conversion of pastoral land to exotic forestry. Government discussions on the ETS forestry regulations continue, causing much uncertainty in the sector.
The government is faced with a challenge of balance here. As exotic forests, while politically and aesthetically displeasing, can absorb up to five times more carbon per hectare in their first 28years of life. With tough emission targets to reach this fact is not easily ignored.
Great local Accountants. They provide an excellent service with great explanations for the layman. They provide accounting services for non rural clients too.
Rural Accountants is a real asset to our business.
The team at Rural Accountants pretty much manage all our administrative tasks for the group including payroll and tax planning, ensuring we don’t pay any more than necessary. They are at the forefront of technology and have helped us get up and running with Xero and Figured which is much more efficient than the way we used to work.
Christine is very knowledgeable, great to deal with and knows our business well. She is also a sheep & beef farmer so knows the industry really well and understands our needs.
Rural Accountants keeps us on track through strategic and forward planning meetings throughout the year. Christine knows our business inside out so she can deal with our questions instantly.
What Our Customers Think
I used to work out my GST and process it manually which would take me at least a full day every two months. The team set up reconcilliation rules and other quick tools, and showed me how to do all my reconcilliations and process my GST returns through Xero which now takes me no time at all!
As a farmer, Christine understands our business and how farmers and growers operate.
We use Rural Accountants to provide a full accounting service to an orcharding partnership which operates a number of orchards with a wide spread of varieties and management systems. Rural Accountants are always timely and accurate, and their annual financial accounts are extremely easy to understand and very grower-friendly.