Risk Statement

Risk Statement

This policy was last updated on 21/03/2022.

My Native Forest Limited (including any of our associated companies who may provide services via the Platform) (MNF or we or us) operates a platform which connects landowners with carbon buyers across New Zealand at app.mynativeforest.nz (the Platform).  

MNF is registered as a financial service provider to keep, invest, administer, or manage money, securities, or investment portfolios on behalf of other persons, and operate a money or value transfer service (FSP1002626). MNF is not licensed by a New Zealand regulator to provide the Platform. MNF’s registration on the New Zealand register of financial service providers or membership of the FSCL does not mean that MNF is subject to active regulation or oversight by a New Zealand regulator.

In particular, the Platform is not (and is not required to be) a licensed financial products market for the purposes of the Financial Markets Conduct Act 2013 (FMC Act).

This risk statement sets out additional information for users of the Platform.  It is not comprehensive and other risks may apply.  Further terms on which we provide the Platform are set out in the Platform and Website Terms of Use (Terms) (available on the Platform). By accessing and using our services, and each time the user (you) uses our services, you acknowledge having read this risk statement and agree to the Terms. 

Important warning 

  1. Buying, holding and disposing digital representations of New Zealand carbon units (NZUs) that exist and have been recognised on the New Zealand Emissions Trading Register (NZETR) (VCUs), whether associated with the Platform or not, involves risks.  Some, but not all, of the risks are set out below.
  2. Any information on the Platform or website does not constitute financial advice for the purposes of the FMC Act.  Nor do any statements on the Platform or MNF’s website take into account your personal financial circumstances and goals.  You must carefully read all available information, including the risks set out below, and consider your personal financial circumstances before acquiring VCUs on the Platform.  If you are unsure about any aspect of trading VCUs or NZUs, you should seek independent advice (legal, taxation, financial, technical or otherwise) before using the Platform and acquiring, holding or disposing VCUs and NZUs.
  3. We make no representation or warranty that the Platform and MNF’s website is appropriate or available for use in all countries or that the content satisfies the laws of all countries.  
  4. VCUs and NZUs are not financial products and we are not an issuer or offeror of VCUs or NZUs for the purposes of the FMC Act.
  5. We do not provide a client money or property service (as defined under the FMC Act) in respect of money, VCUs and NZUs that we receive from you or a third party and hold for your benefit (because VCUs and NZUs are not financial products). 

Support requests and complaints

  1. If you have a request or complaint, please refer to the processes set out in section 13 of our Terms. 

Some risks of using the Platform

Tax treatment and accounting

  1. The purchase and holding of VCUs may be subject to New Zealand tax laws. You are solely responsible for understanding how your activities on the Platform will be taxed under the laws applicable to you.

Market risks

  1. Past performance is not a reliable indicator or guarantee of future performance. Historically, the value of NZUs has fluctuated significantly. You may be unable to transact VCUs at the anticipated rate or price.  Changes in prices may result in changes in value and/or losses of VCUs and NZUs (upon withdrawing on the Platform). 
  2. The value of VCUs and NZUs (upon withdrawing on the Platform) can be affected by many other factors including (but not limited to) movements in market demand and supply, economic conditions, market sentiment, political events, natural disasters, consumer demand and changes to the New Zealand Emissions Trading Scheme (NZ ETS).  For more information on the NZ ETS, search for "NZ ETS" at www.mfe.govt.nz. You must consider and read the information in relation to the VCUs that you are interested in carefully. 


  1. For the purposes of the Alpha testing of the Platform, there is no ready market on which you can sell VCUs.  You may only withdraw it in the form of NZUs on making a request to us.  You may be requested by MNF to provide additional information or give confirmations or declarations before we transfer the associated NZUs from our NZETR account to your designated NZETR account. 
  2. We are not responsible for loss of value that arises from delays in transferring NZUs to you. 

Processing of transactions

  1. There is a risk that transactions cannot be settled or are delayed at settlement, that processing times differ for each transaction, or a transaction may be incorrectly processed. These risks can result from, amongst other issues:
  1. user error when providing transaction details (such as providing an incorrect bank account number or other information); 
  2. increases in the volume of VCU purchases, and / or withdrawal requests, on the Platform; 
  3. increases in the volume of transactions on the NZETR website; or
  4. a failure in the Platform (see further information below at System risk) or NZETR processing systems or a failure in an underlying network or software.
  1. It may not be possible to reverse a transaction once processing has commenced.  

System risks

  1. As the MNF Platform is at its alpha testing stage, this is developing technology, the networks and software may be subject to technical weaknesses, bugs, system failures, and hacks by external parties.  These failures may affect the Platform network and software itself.  You should understand the operation of the technology underlying the Platform to understand these risks.
  2. If we become aware of an attack, we will assess the best response on a case-by-case basis, which may include suspending transactions on the Platform.
  3. Hackers are sophisticated and you may also be targeted by ‘phishing’ attacks or other scams.  Phishing includes where third parties masquerade as a legitimate MNF site, social media account, telephone support number or App in order to steal your credentials.  You should only access the MNF website through its official website (mynativeforest.com). Never click on a link or download an App from a third party.  We strongly recommend that you do not share your user details to prevent unauthorised account use.  Your passwords should be unique to MNF and should never be stored insecurely on any personal device.  If you are a victim of such an attack or scam, the hacker may be able to get you to send them money or your NZUs or they may steal money or your NZUs.
  4. Your ability to use the Platform, buy VCUs, or withdraw NZUs, may be affected by these technical failures or attacks either on the Platform or on the NZ ETR.  
  5. We will make reasonable efforts to notify users where the Platform, or a particular transaction to load money into your cash wallet, purchase VCUs on the Platform, or withdraw NZUs, has been subject to a technical weakness, bug, system failure, or hack.  
  6. We may also need to do maintenance or upgrades on the Platform from time to time which could affect your ability to use the Platform, load money into your cash wallet, buy VCUs, or withdraw NZUs.

Cyber security generally

  1. The transmission of information over the internet (including to or from the Platform) is not completely secure or error free.  You should stop transacting when it is clear there has been a breach of security or a system failure that poses a risk to security exists (such as malware, ransomware or phishing). 
  2. If you forget or lose your passcode to your account, MNF may not have the ability, or be delayed in being able, to back-up. This may result in the loss of value from any transactions you may have wanted to complete in respect of your VCUs or NZUs.   

Consumer protection

  1. The Platform does not intend to offer or market regulated financial products or securities. Therefore, the protections which apply to “regulated offers” (within the meaning in the FMCA) or in relation to licensed exchanges under New Zealand law do not apply.  General consumer protection law may apply, however, to buying or withdrawing VCUs on the Platform, including the services provided by us and, to the extent such consumer laws do apply we do not seek to exclude any of your rights that we cannot by law exclude. 

Regulatory risks

  1. New or changing laws and regulations, or interpretations of existing laws and regulations, and a chance in current political settings, in relation to the NZ ETS and its design, may adversely impact or significantly change the value of VCUs recognised on the Platform or NZUs that you ultimately withdraw.  
  2. Users are responsible for ensuring they comply with all laws regarding their activities with VCUs and NZUs that are withdrawn using the Platform.  
  3. If you are outside of New Zealand you may be subject (or we may become subject) to laws or regulations of other countries which could prevent you from using the Platform or cause us to change the availability of the Platform in your country or how we operate or offer the Platform.

Economic risks 

  1. A downturn in economic growth may reduce an emissions-intensive operator’s output. This may lower the demand for offsetting NZUs. Alternatively, accelerating economic growth may increase emissions and increase demand for NZUs by emitters. This will have an impact on the unit value. 

Other information

  1. MNF and any person associated with us (including directors, shareholders, employees and any other related parties) may trade and hold VCUs on our or their own account through the Platform. 
  2. We are not responsible for any risks or errors that arise on the NZ ETR website or system.