The Australian Forest Products Association (AFPA) has welcomed new forestry plantation projects announced by the Albanese Government through Round 3 of the Support Plantation Establishment Program (SPEP). We welcome this announcement on National Forestry Day to strengthen our sovereign capability in an essential resource, Deputy Chief Executive Officer of AFPA, Richard Hyett said today.
The funding for the 15 new projects worth a combined $19 million and spread across NSW, Western Australia, Tasmania, Victoria and the Northern Territory will bring the total number of new hectares planted under the program to around 25,000 hectares. Total funding under the $73 million SPEP arrives in at over $46 million to date.
"Over the past decade, AFPA and broader industry has advocated for government initiatives to assist in growing more production trees for Australia's future and to meet future demand. At the 2022 Federal Election, both sides of federal politics committed to what is now the SPEP to encourage more production plantings," Richard Hyett said.
"We expect global demand for timber and wood-fibre to quadruple by 2050 and we must make sure that Australia has the sustainable resource growing in the ground to service our own needs as governments seek to decarbonise the economy, but also potentially to help the world with its growing demand.
"A big thank you to Minister for Agriculture, Fisheries and Forestry the Hon. Julie Collins who has championed our industry's causes and understands the importance of sustainable timber and wood-fibre resources for the climate, environment, to support our full supply chain and for essential consumer markets.
"While the SPEP has some way to go before all funds are exhausted, we will continue working with the Albanese Government to secure further, ongoing funding to support plantation expansion over the next few years.
"We know that increased use of timber and wood-fibre in the economy is essential for Australia and the world to meet emissions reduction targets and a steady supply of sustainably sourced timber and wood-fibre resource is essential to make that happen. Once again, we thank the Government for this announcement and Happy National Forestry Day!," Richard Hyett concluded.
