16 December 2010

The Lake Taupo Protection Trust announced today the signing of an agreement with Tuwharetoa farming entity Waihi Pukawa Ahu Whenua Trust to reduce 17,000 kgs of Nitrogen leakage into Lake Taupo. The agreement sets in place nitrogen reduction outcomes through farm management changes and the transfer of 284 ha of pastoral land into forestry. This new agreement brings the Trust to a total reduction to date of 84,000 kgs towards its overall target reduction of 153,000 kgs.

John Kneebone, Chairman of the Lake Taupo Protection Trust commented “This is an important decision of Waihi Pukawa as the reduction is significant, will be permanently maintained and will help safeguard the water quality of Lake Taupo into the future”.

Scientific evidence shows that Nitrogen leaking into the pristine waters of Lake Taupo will in the future cause deterioration of the water quality. In conjunction with Waikato Regional Council, Taupo District Council, the Crown (Ministry for the Environment) the Lake Taupo project was formed which includes a Nitrogen cap on discharges of nitrogen from farming. These discharges come mainly from animal urine and therefore any changes to stock numbers or changes from pastoral land to forestry enables Nitrogen reductions to be achieved.

The changes are locked into place by private agreement and through a resource consent issued by Waikato Regional Council who undertakes ongoing monitoring to ensure the reduction is maintained. The Trust has access to a public fund of approximately $81 million to facilitate and achieve the Nitrogen reduction target.

Waikato Regional Council Chairman Peter Buckley said today “The Trust and Tuwharetoa are leading the way in showing how farmers can improve profitability of their marginal land and have a positive impact on the environment. Waikato Regional Council initiated the Protecting Lake Taupo project with a view to protecting the lake and also generating economic benefit”. Mr. Buckley continued “These agreements clearly demonstrate the potential economic benefits available to farmers, foresters, and those needing carbon credits under emission trading legislation while also protecting Lake Taupo's high water quality for all New Zealanders to enjoy now and into the future.”

The transfer of pastoral land into forestry also involves an agreement with Mighty River Power who have entered into a separate agreement with Waihi Pukawa to purchase the carbon credits from the new forestry under the recently enacted Emission Trading Scheme.

The signing of the documents took place overlooking Lake Taupo which Waihi Pukawa spokesperson Rakei Taiaroa noted as significant. “With children playing in the lake in front of us today, it highlights the importance of protecting the lake for future generations to enjoy. The Trustees and shareholders of Waihi Pukawa through this deal are showing their commitment to keeping the lake in pristine condition”.

MP for Taupo Louise Upston, who attended the signing ceremony, congratulated the parties on the agreement on behalf of the Crown.

For further information contact Graeme Fleming, Chief Executive Officer, Lake Taupo Protection Trust; 021 846 996.