Research Shows Ending Native Forest Logging In NSW Would Bring Millions
An estimated value at $45M
Blueprint report highlights the economic benefits of ending native forest logging, putting a stop to the practice in New South Wales’s northeast forest could gain $45 million by 2040.
The state’s current Northeast Regional Forestry Agreement is scheduled to expire from 2039 to 2040.
However, the report has found that instead of utilising the land for carbon sequestration, tourism can deliver net benefits with an estimated value of “$45 million in present-day dollars”.
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The result includes the estimated cost of providing transitional packages to the industry as it shuts down, and the cost of breaking wood supply agreements that extends to 2028.
“Assessing the native logging industry on its own free market merits against alternate land uses for native forest, we find a net benefit of $260.1 million in ceasing logging immediately,” said in the report.
Jacqui Mumford, CEO of The Nature Conservation Council of New South Wales (NCC), said the NSW Forestry Corporation wasted $29 million of taxpayers’ money logging native forests, pulping critically endangered animal habitats to make cardboard
and wood chips.
“This report also demonstrates how easy it would be to end native forest logging in NSW. All the NSW government would need to do is end the absurd subsidies that are keeping this industry going,” she added.
She said the fragility also highlighted the need to fund a transition for works, as the report found it would cost less than the current subsidies being directed to the industry.
“Forests are the lungs of the earth. They are essential to clean air, a sustainable climate and the survival of critically endangered species like the powerful owl, gang-gang cockatoo, greater glider and koala.”
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