Carbon storage potential of renewable timber needs work post Federal Election

The emissions reduction potential of our renewable forest product industries should be recognised in major political parties policy development as we head past the Federal Election, Chief Executive Officer of the Australian Forest Products Association (AFPA), Mr Ross Hampton said today.

“Whichever side of politics wins government on Saturday, more consideration needs to be given to the development of new Carbon Farming Initiative (CFI) methodologies that will yield multiple benefits including renewable timber products, carbon storage and new manufacturing jobs – a win-win for Australia’s environment and economy,” Mr Hampton said.

“Major political parties have identified the need for additional methodologies to underpin carbon credits but have been lacking in specific renewable timber methodologies in construction during the Federal Election campaign.

“Boosting CFI methodology research and development and exploring the establishment of ‘premium’ carbon credits will supply substantial multiple benefits.

“Wood fibre is an amazing renewable and recyclable natural resource. With an expanding population and high forecast demand, our forest product industries have the potential to provide a versatile range of renewable wood fibre products for construction and other uses. Wood fibre products involve lower energy inputs in production and provide a range of emissions reduction and carbon storage benefits relative to other alternative materials.

“It will be incumbent on not only the new Federal Government, but both major sides of Federal politics, to develop supportive policy for timber, ‘the ultimate renewable’ after the Federal Election,” Mr Hampton concluded.


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