NSW Forestry Corporation’s Annual Report has been tabled in the NSW Parliament today and as expected, shows a $9 million dollar loss for the hardwood division.
Greens MP and spokesperson for the Environment Sue Higginson says the hardwood division conducts logging operations in public native forests and is directly driving the climate and extinction crises.
‘The people of NSW have lost another $9 million dollars to the unprofitable and irresponsible destruction of our public native forests,’ said Ms Higginson.
‘Public native forests are being destroyed and turned into low-value products such as wood chips for export, fence palings and pallets while taxpayers in NSW foot the bill for the $9 million loss in 2021/22.
‘These native forests are home to endangered koalas and greater gliders and must be preserved if we hope to save these species from extinction,’ she said. ‘The softwood division by contrast earned $47 million from plantations that can be managed sustainably and go to building homes and other high value uses.’
She says the government is being dishonest to justify the ongoing logging in public native forests.
‘The reality is that native forest logging is unprofitable and comes with an unacceptable cost to the natural environment. Communities and workers need a managed transition out of native forest logging and into 100% sustainable plantations so they can have long term security.’
The crazy economics of destruction
‘The Frontier Economics report comparing the value of alternative uses of native forests in Southern NSW shows that ending logging in public native forests could save NSW $62 million over the next 30 years,’ said Sue Higginson.
‘Frontier Economics has also shown us that the transition to 100% plantations could cost as little as $30 million per year over ten years,’ she said. ‘The time is now to plan the transition from public native forest logging while it is costing NSW millions of dollars every year.
‘We need to save our forests for their value as habitat, carbon sinks and recreational values.’