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Initiated by the Government of New Zealand, the "Permanent Forest Sink Initiative" projects restore intact forests on the North and South Island. Originally, the majority of New Zealand used to be arboreous. In recent decades, the expansion of extensive agriculture lead to large-scale deforestation destroying the natural habitats of native bird species such as the kiwi.
The "Permanent Forest Sink Initiative" (PFSI) was developed by the New Zealand Government, the project developers at Permanent Forests International Ltd., private land owners and local residents. The initiative uses the sale of CO2 certificates to push forward with long-term reforestation in New Zealand. In particular traditional forest regions are being reforested.
Environmental benefits
The aim of New Zealand's "PFSI" initiative is the preservation of forests as a permanent, natural CO2 sink - as a contribution to climate protection. PFSI projects also support various ecosystem services to humankind and animals alike: The risks of soil erosion and flooding are reduced significantly, drinking water quality is improved and habitats - particularly those of endangered native bird species - are re-established.
Social and economic benefits
Local reforestation projects create a new, long-term source of income for land owners. The sale of CO2e certificates finances the project and ensures income for land owners, which in turn will enable them to practice sustainable forest protection. The PFSI projects will last for 99 years.