The Trust has the job to reduce nitrogen entering into Lake Taupo and ensure the ongoing health and high water quality of the lake is maintained.

To date this has involved the Trust purchasing land for future conversion to lower nitrogen uses such as forestry. However in this case the owner will be retaining ownership and will plant trees and receive a nitrogen reduction payment from the Trust, said chairman John Kneebone.

This arrangement is understood to be the first of its kind in New Zealand and will involve the land in question having a legal covenant placed on the title to ensure that the nitrogen reduction is maintained in perpetuity.John Spencer, a shareholder in Boat Harbour Holdings Ltd who owns the land commented, “It’s exciting to be part of a first for New Zealand but also play a part in safeguarding the lake for future generations”.

Mr Spencer confirmed that the land can now only be used for low nitrogen uses and that while setting up the agreement was challenging he believes the model will be replicated again within the lake catchment.

“Converting farmland to forestry may appear unusual, however business opportunities do exist in achieving carbon reduction credits and combined with the Trust objectives to reduce nitrogen then it can be a win win for everyone,” he said.

The Trust's objective is to reduce the manageable nitrogen entering the lake by 153 tonnes. Environment Waikato has introduced rules under Variation 5 to the Regional Plan which allocate and stipulate maximum levels of nitrogen that each farm can produce.

Peter Buckley, chairman of Environment Waikato commented, “The regulatory controls maintain manageable nitrogen at the current levels while the job of the Trust is to reduce them by 20% so that the health of the lake can be maintained. At the end of the day that’s what we are all concerned with.”

Taupo District Council Mayor Rick Cooper says the Trust worked with the land owners to look at options ‘outside the square’. “It is great we have managed to come up with a solution that works for both parties and that will help us achieve our goal of a 20% reduction of nitrogen to protect this district’s most valuable asset – our stunning lake,” he said.

The Trust operates under a Trust Deed set up by Environment Waikato, Taupo District Council, and Ministry for the Environment and Ngati Tuwharetoa and receives funding on an annual basis to carry out its work.

Source: Lake Taupo Protection Trust media release. For more info, contact Graeme Fleming, Chief Executive Officer, Tel 021 846 996.