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New Zealand

Pamu identifies about 3000 hectares of planting

State-owned agricultural company Pamu (Landcorp) has confirmed that approximately 3,000 hectares of land will be planted in trees on two Otago properties, subject to resource agreements.

In response to inquiries from Otago Daily Timesa spokesman for the country’s largest farmer said about 650 hectares of new planting had been identified at the 3,040-hectare Thornicroft base near Lake Mahinerangi.

At the Waipoli train station, which shares a boundary with Thornicroft, Pam was considering planting about 2,300 hectares. Like Thornicroft, we did not expect it to have a significant impact on staffing levels as the company moved towards a higher percentage of finishing stock remaining on its 12,564 hectares of land.

There are no current plans to plant an entire farm, nothing carbon-only, a spokesperson said.

Pamu has asked contractors to begin an ecological assessment of the area of ​​Thornicroft, which has been identified as having significant costs for waterway fencing if cattle and deer are to be kept beyond 2024. Low livestock productivity (eg class 6 or 7 land). Safe passage considerations (such as people safety considerations), and good forestry production potential.

In its latest annual report, Pam says it is expanding its forestry business, pledging to plant about 1,000 hectares of new trees each year until 2030.

Most of it was red pine, but it included other exotic and native species where it was most suitable for land suitability and future market potential.

As of June 30 last year, Pam had 14,280 hectares of plantation. The company had 1 million carbon credits (in New Zealand units) after adding another 3% later in the year.

Pam sees all forestry in terms of its contribution to improving ecosystem services. These include carbon capture, land stabilization, freshwater protection, biodiversity, and habitat for crop pollinators and bee species. According to his report, the value of these services is expected to become increasingly monetized in the future.

Many farmers welcome the opportunity to integrate more trees into traditional animal husbandry operations, the company said.

More broadly, Pamu believes that land use decisions across the portfolio are critical to all strategic areas.

Last month, Pam, which has a nationwide portfolio of 116 farms covering 360,000 hectares, announced the formation of an independent Sustainability Commission to “strengthen its commitment to sustainable agriculture.”

Efforts to address climate change include tying future bank financing to sustainability goals, including year-on-year emissions reductions, working with partners on farm emissions reduction projects, methane reduction trials, organic It said it would include actions such as reducing the environmental footprint of dairy and nitrogen. reduction, land-use change through horticulture, and the integration of trees into the landscape of marginal agricultural land.

The six members of the panel included four from outside Pam. Kate Beddoe, Chief Sustainability and Risk Officer at Silver Fern Farms, Carolyn Mortland, Zespri Sustainability Advisory Board Member, Richard Gordon, former Chief Executive Officer of Manaaki Whenua-Landcare Research, Climate Scientist and University of Waikato Lecturer Luke Harrington.

The other two were Pamu’s directors, Desiree Mahy and Belinda Story.

Pamu reported earnings before interest, taxes, depreciation, amortization and revaluation for the fiscal year ended June 30, 2022 of $75 million. This is a 23% increase from the previous year ($61 million). The company announced a dividend of $5 million.


https://www.odt.co.nz/business/pamu-identifies-nearly-3000ha-planting Pamu identifies about 3000 hectares of planting

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