Joint media release with Assistant Minister for Industry Development the Hon Jonathon Duniam
The Morrison Government is increasing support for the use of low-carbon timber in the construction sector, supporting forestry jobs across Australia.
The Government, through the Clean Energy Finance Corporation (CEFC), is investing $300 million to support the Timber Building Program.
The Program will promote the use of low-carbon engineered wood materials in apartments and office buildings to reduce construction-related emissions and create jobs in the forest industries.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said the forestry industry has great potential to contribute to support jobs in our cities and regions while reducing emissions.
"Increased use of low-carbon construction materials like wood products will help achieve our target of net zero emissions by 2050," Minister Taylor said.
"The production and delivery of building materials account for 28 per cent of emissions in the construction industry globally.
"Australia's Long Term Emissions Reduction Plan sets out the approach the Government is taking to help industries reduce their emissions, through research and enabling technologies."
Assistant Minister for Forestry and Fisheries Jonno Duniam said this was another example of the Morrison Government backing in our forest industries.
"Forest industries make an enormous contribution to rural and regional communities across Australia and employ over 65,000 people," Assistant Minister Duniam said.
"Through our National Forest Industries Plan we are reducing barriers to investment in our plantation estate, improving Australia's value-adding capability and delivering opportunities for better returns on investment for our foresters.
"This Program is another key initiative that will help to incentivise the making of more innovative forest and wood products right here in Australia and create more jobs in the regions."
Last month, the Government released a new Emissions Reduction Fund (ERF) method to support plantation forestry projects to earn Australian Carbon Credit Units (ACCUs). ACCUs can be sold to the government or the voluntary private market.
The new ERF method builds on regulatory reforms designed to encourage more plantation forestry projects in key forestry regions across Australia.
The Program will finance eligible projects Australia wide on a case-by-case basis, which includes construction projects in office, retail, industrial, healthcare, education, residential, seniors living, hotels, and student accommodation.
The Program also aims to develop local skills and experience that will lead to more low carbon timber-based building activity in the future.
