Latest news with #StuartNash
Otago Daily Times
2 days ago
- Business
- Otago Daily Times
Former minister hits out at carbon farming of pines
A tree industry expert and former minister of forestry has condemned "lock and leave" carbon farming, but says you still can not tell farmers what to do with their land. Former Labour minister Stuart Nash said in his time with the portfolio he had a dream for how the Emissions Trading Scheme (ETS) would benefit the country. "With the ETS, for the first time ever there's been an economic incentive to plant up land that should have never been cleared in the first place," he said. But forestry conversions, since the incentive was introduced, where dense pines were planted with no plan to harvest the mature trees, were not good, he said. "You will end up with an ecological disaster in between 80 and 100 years," he said. He understood that some legislation was developing to help restrict the planting of pines, but said you still can not tell farmers what to do with their land and their money. "I don't know if that's the right route," he said. "Farmers get pretty p..... off ... because what it does mean is, their farm which may be worth, $10 million to a forester is now only worth $7m." The Climate Change Response (Emissions Trading Scheme-Forestry Conversions) Amendment Bill passed its first reading in June. It proposed restrictions to the quality and proportion of arable land that could be planted in trees. Mr Nash had a masters degree in forestry science and previously worked for construction, paper and forestry giants Carter Holt Harvey and Fletcher Challenge. His ideal for carbon farming was that pines would be planted low density, for no longer than 50 years, while at the same time seeding natives. Then after 50 years, the ministry would allow the grower to collect carbon credits of the native forest as the pines died off. In this ideal situation, carbon farmers would not be allowed to collect credits or money on pines past that 50-year cut-off. He said research by the sustainability charitable trust Pure Advantage showed that Mānuka could be a just as fast growing and carbon-absorbing alternative to pines. While he was the minister, he said the research needed more time to cook and the good thing about pines were that they were the most hardy. "It's the over-boiled Brussels sprouts of the trees," he said. "Not many people like it, not many [bugs and diseases] like it [either]." Coming from Napier, he had seen the devastation Cylone Gabrielle and Cyclone Hale had on the east coast of the North Island in 2023. This was where trees on farms would have come in handy, he said as roots made the ground more hardy, and would have prevented slips and other soft ground corrosion after the floods. A lot of New Zealand land should never had been cleared for farming and he said it was expensive to plant hilly, non-productive land, without incentive. He said despite seeing the benefit of forests and the ETS for the land, he by no means wanted to see highly productive farms and soil turned into carbon farms. "I'm really loathe to tell farmers what they should and shouldn't do," he said. "But I'm very happy to tell carbon farmers what they should do."
Otago Daily Times
05-08-2025
- Business
- Otago Daily Times
Ex-minister hits out at pine carbon farming
A tree industry expert and former minister of forestry has condemned "lock and leave" carbon farming, but says you still can not tell farmers what to do with their land. Former Labour minister Stuart Nash said in his time with the portfolio he had a dream for how the Emissions Trading Scheme (ETS) would benefit the country. "With the ETS, for the first time ever there's been an economic incentive to plant up land that should have never been cleared in the first place," he said. But forestry conversions, since the incentive was introduced, where dense pines were planted with no plan to harvest the mature trees, were not good, he said. "You will end up with an ecological disaster in between 80 and 100 years," he said. He understood that some legislation was developing to help restrict the planting of pines, but said you still can not tell farmers what to do with their land and their money. "I don't know if that's the right route," he said. "Farmers get pretty p..... off ... because what it does mean is, their farm which may be worth, $10 million to a forester is now only worth $7m." The Climate Change Response (Emissions Trading Scheme-Forestry Conversions) Amendment Bill passed its first reading in June. It proposed restrictions to the quality and proportion of arable land that could be planted in trees. Mr Nash had a masters degree in forestry science and previously worked for construction, paper and forestry giants Carter Holt Harvey and Fletcher Challenge. His ideal for carbon farming was that pines would be planted low density, for no longer than 50 years, while at the same time seeding natives. Then after 50 years, the ministry would allow the grower to collect carbon credits of the native forest as the pines died off. In this ideal situation, carbon farmers would not be allowed to collect credits or money on pines past that 50-year cut-off. He said research by the sustainability charitable trust Pure Advantage showed that Mānuka could be a just as fast growing and carbon-absorbing alternative to pines. While he was the minister, he said the research needed more time to cook and the good thing about pines were that they were the most hardy. "It's the over-boiled Brussels sprouts of the trees," he said. "Not many people like it, not many [bugs and diseases] like it [either]." Coming from Napier, he had seen the devastation Cylone Gabrielle and Cyclone Hale had on the east coast of the North Island in 2023. This was where trees on farms would have come in handy, he said as roots made the ground more hardy, and would have prevented slips and other soft ground corrosion after the floods. A lot of New Zealand land should never had been cleared for farming and he said it was expensive to plant hilly, non-productive land, without incentive. He said despite seeing the benefit of forests and the ETS for the land, he by no means wanted to see highly productive farms and soil turned into carbon farms. "I'm really loathe to tell farmers what they should and shouldn't do," he said. "But I'm very happy to tell carbon farmers what they should do."
Fox News
02-07-2025
- Business
- Fox News
America's elite lead boom of ‘golden' visa applications to vacation destination
A new trend has emerged among America's elite as New Zealand's Active Investor Plus visa — also dubbed the "golden" visa — sees a recent boom. "[There has been] a flood of formal interest in the new 'golden' visa," said New Zealand Immigration Minister Erica Stanford, according to Reuters. In April, the government relaxed its visa rules to attract more high-net-worth individuals, with such changes as removing an English language requirement. The country also reduced the amount of time required to spend in New Zealand. Once the golden visa is obtained, it can be held for life. People do not need to reapply. In under three months, 189 golden visa applications were received, while previous applications were at 116 submissions over the span of more than two-and-a-half years, Reuters reported. Nearly half the applications were submitted by U.S. citizens, with Chinese citizens having the second-highest number of applications, the same source noted. Former New Zealand Minister for Economic Development Stuart Nash, co-founder of Nash Kelly Global, told Fox News Digital the visas are getting more popular. "There's a lot of global uncertainty at the moment," he said. "You've got a war going on in Europe, you've got the tinderbox, which is the Middle East. You've got a change in the U.S. administration, which is causing more polarization than we've seen in a long, long time," said Nash. "There are many Americans wanting to settle in New Zealand, as we're seen as this oasis at the bottom of the world," he added. "You can live the New Zealand dream." Nash pointed to New Zealand's "stable banking system" and lack of capital gains, wealth and death taxes. "In this time of global uncertainty, geography is just as important as anything else. You jump on a plane and you're 1,200 miles away from trouble spots," said Nash. He added, "In the past, people were looking for tax havens. Now they're looking for safe havens for them and their family." Nash said the country's low population is a unique perk. "We have wonderful scenery, sailing, golf — and we have some pretty cool people," Nash said. He added, "You don't have to renounce your U.S. citizenship at all. You can get permanent residency for life and you can live the New Zealand dream." Reuters contributed reporting to this article.
Bloomberg
29-06-2025
- Business
- Bloomberg
The Price of Trump's Gold Card and Where Else You Can Live
The US has had a version of an investment visa since the early 20th century, so what's new about President Trump's "gold card" and how does it compare with other countries' investment immigration programs? LSE's Kristin Surak explains different incentives of countries' golden visa and passport programs and why some countries have shut them down. New Zealand's Former Minister of Economic Development Stuart Nash explains country's revamped investment immigration program. Cato Institute's Alex Nowrasteh takes a different approach to immigration and says that the market is best placed to determine the right price of immigration. (Source: Bloomberg)
NZ Herald
25-06-2025
- Business
- NZ Herald
Society Insider: Former MP Stuart Nash smooths Golden Visas for wealthy; Is Xero founder Rod Drury the king of Queenstown?; Lux weddings for Sophie Heatly and Murray Crane
Man about town Ricardo Simich brings you Society Insider. This week, former MP Stuart Nash on his business that offers a high-end relocation service for wealthy individuals; Xero founder Rod Drury is heavily investing in Queenstown; Rich List daughter Sophie Heatley marries in Hawaii. Stuart
