Based on the recommendations of the report, the Government will set a series of goals for the reduction
of carbon emissions over the next three decades. These include achievement of a 10% reduction in biogenic
methane emissions by 2030 and a net zero carbon emission by 2050.
Exact details of how this will impact the agricultural sector are not yet confirmed however, steps have
been taken by the sector to identify initiatives to reduce net carbon emissions. He Waka Eke Noa / Our
Future in Our Hands is one of the groups focusing on this issue with Irrigation NZ one of the members. He
Waka Eke Noa / Our Future in Our Hands is committed to working with Government to establish realistic,
informed decisions to achieve the objectives of net carbon emission reduction without compromising the
economic viability of the sector.
As part of the programme of work they have identified two goals. These include:
All farms having a FEP by 2025, and
Implementation of a mechanism for the measurement of all on farm
emissions by 2022. A full farm level accounting system for carbon emission would be in place by 2025.
CPWL Carbon Footprint Assessment
We have undertaken an initial assessment of CPWL’s carbon footprint using the ACE GHG estimation tool developed by Catalyst Ltd.
Some of the inputs considered included:
Based on the data available to date, CPWL is projected to have emitted approximately 2,000 t CO2e in the ten
months between July 2020 and April 2021.
Due to the recruitment of the Operational Team part way through the 2020 – 2021 year, the figures for vehicle travel will increase in the forthcoming years increasing the
overall annual footprint to approximately 2500 t CO2 e.
The estimated 2000 t/CO2e (CO2 equivalent) for CPWL’s footprint in the 2020 /2021 season is a benchmark
against which future options to reduce emissions will be measured.
The current spot price for 1 NZU (often referred to as a carbon credit and equivalent to 1 tonne CO2
Equivalent) is $37.00. At present there is no requirement for CPWL to pay a carbon tax however, if we were,
our current emissions translate to an overall potential liability of approximately $74,000. This figure will
rise to around $93,000 at 2021 NZU prices in coming years. This equates to approximately $2 per share or
0.15kg CO2 e per cubic metre of water delivered.
CPWL Carbon Footprint Estimate
CPWL will continue to measure and report carbon emissions. This will assist shareholders in understanding
their own farm emissions and assist CPWL to identify ways of reducing our emissions in compliance with the
anticipated reductions set by Government.
A number of initiatives will be considered to help reduce the size of our footprint including:
Alternative fuel vehicles
Generation of renewable energy
Increased utilisation of virtual meetings rather than travel.
Offsetting activity will also be considered. Using published guidance, 9000 native trees and shrubs will
need to be planted annually to offset 2000t.
Information gathered will enable the inclusion of a carbon “cost” in the “on farm” carbon accounting
required in the next four years.
Future developments in measuring the CPWL footprint will consider the inclusion of the supply chain
footprint (where possible) and the extended footprint arising from staff personal travel to and from work.
Inclusion of these will more accurately reflect CPWL’s true footprint.