Comparing the value of alternative uses of native forests in Southern NSW
The NSW Government has recently announced a target of reducing the state’s emissions by 50% by 2030 on 2005 levels. Meeting this target while driving increased prosperity requires the realisation of the cheapest sources of abatement.
Consistent with this commitment, there is an opportunity to expand the role of forests in NSW’s climate strategy by stopping logging in state forests. Frontier Economics and Professor Andrew Macintosh of the Australian National University have prepared a report, Comparing the value of alternative uses of native forests in Southern NSW, that looks at the climate and economic outcomes of this strategy, based on a case study in the southern forests of NSW, covering the Southern and Eden Regional Forest Agreement (RFA) areas.
Based on conservative assumptions, the study found stopping native forestry in the Southern and Eden RFA areas would produce a net economic benefit to the state of approximately $60 million, while also reducing net greenhouse gas emissions by almost 1 million tonnes (Mt) per year over the period 2022-2041.