Saving the world's remaining rainforests would be a bargain

Rules against deforestation are usually strict, but seldom enforced. (Image: Depositphotos)

Sun, 19 Mar 2023

Profits from chopping down rainforests are surprisingly meagre. The land is not particularly fertile. A freshly cleared hectare of the Amazon fetches an average price of only around US$1,200 (NZ$1,940). By contrast, the social costs of clearing it are immense. Some 500 tonnes of carbon dioxide are pumped into the atmosphere. By a conservative estimate, that does US$25,000 (NZ$40,500) of harm by accelerating climate change.Yet still the world’s trees are disappearing. The area covered by primary rainforest has dwindled by 6.7% since 2...

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Finance

Cautious lending keeps lid on default rates – Reserve Bank

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John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

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