It makes better financial sense for the native forests of southern New South Wales to remain un-logged and left to generate carbon credits, a new report suggests, reports Ben Cubby at the Sydney Morning Herald. Taxpayers would be able to generate carbon abatement, conservatively valued at about $222 million over the next 25 years, and use some of the money to fully compensate timber companies, according to the analysis by think tank The Australia Institute. The state government disagrees, saying the report is based on an unrealistically high carbon price. But taxpayers are presently losing money on native forest logging. ”Stopping harvesting and using the native forests of the Southern Forestry Region to generate carbon credits offers a viable alternative to commercial forestry,” the report said, citing public data about the profitability of all current logging operations, government subsidies, and company tax received from logging corporations. The main problem in the proposal is that native forestry logging operations are not yet eligible to generate carbon credits under the federal government’s Carbon Farming Initiative. But the government intends to expand the scheme soon.
Join the swelling numbers of voters TELLING Congress they’ll vote for Clean Energy candidates here: http://signon.org/sign/we-are-the-clean-99?source=c.em.cp&r_by=487176 . This is an ongoing campaign (the next Congressional election is in 2 years!) so please, spread the word. It’s our way of telling Congress that a strong clean energy voting bloc is out there. This is how YOU can make a difference.
For more on Climate Change, check out my weekly column at the HuffingtonPost, Climate Change This Week : http://www.huffingtonpost.com/author/index.php?author=mary-ellen-harte
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