New Plantation Forestry Method to boost carbon returns for plantation forestry projects in Tasmania
The Australian government has made changes to the Emissions Reduction Fund that will benefit plantations in Tasmania. The Assistant Minister for Forestry and Fisheries, Jonno Duniam said that the new ERF Plantation Forestry Method would boost Australia’s plantation forestry sector by creating jobs in both communities it supports as well as boosting productivity.
Under the ERF, emissions reduction projects can generate carbon credits which can then be sold to the government, providing a financial incentive for businesses to invest in cleaner technologies. The Australian Government has introduced several initiatives to make it easier for plantations to generate carbon credits, including the Climate Solutions Fund. These initiatives are helping to create a market for carbon credits, and are driving investment in cleaner technologies. As a result, the government is making it easier for plantations to generate carbon credits and access the Climate Solutions Fund.
The plantation forestry industry in Australia has experienced strong growth in recent years, due in part to the availability of carbon credits. Carbon credits are a type of tradeable permit that represent a unit of carbon dioxide emissions reductions and can be bought and sold in order to offset emissions. By improving access to carbon credits, the plantation forestry industry will be able to continue its growth and expansion. This will in turn lead to more jobs and economic activity, as well as an increased supply of wood for the construction and furniture industries. In addition, businesses will be able to use carbon credits to offset their emissions and generate revenue. Therefore, improved access to carbon credits is essential for the continued growth of the plantation forestry industry in Australia.
The Australian Government is reassured by the findings of this report which reveal that sustainable forestry will be an important source for decades ahead. It has already started contributing towards meeting our emissions reduction targets while also growing a strong economy!
The new Forico CEO, Ange Albertini said that greater access to carbon credits for Australia’s plantation forests builds the business case for establishing more of these planting projects. “Carbon sequestered by trees and stored in wood products plays an important role within our economy,” he added.”
The new methodology will enable the industry to continue planting much-needed trees in areas that may have been converted for other uses. Carbon funding for forestry projects recognizes that sustainably managed production forests make a positive contribution.
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