Coalition to invest $300m to promote use of low-carbon timber

Scott Morrison will pour $300m into low emissions timber as he moves to bolster the government’s environmental credentials ahead the federal election.

Energy Minister Angus Taylor. Picture: Gary Ramage

Scott Morrison will pour $300m into low emissions timber as he moves to bolster the government’s environmental credentials ahead the federal election.

The program, launched through the Clean Energy Fin­ance Corporation, will promote the use of low-carbon engineered wood materials in apartments and office buildings with the aim of driving down emissions in the construction industry.

Job creation in the forestry industry will be prioritised, as the Prime Minister sharpens his ­election pitch to voters underpinned by low unemployment ­levels, strong economic growth and investment in training and skills.

It follows his announcement to inject $1bn into the Great Barrier Reef and $50m into koala conservation as the Liberals try to fight off pro-climate independents in inner-city electorates in Sydney and Melbourne.

Traditional building materials such as cement and steel are ­energy-intensive products, with studies showing low-carbon wood can help cut emissions when used as a substitute.

The funding will finance eligible products across the country on a “case-by-case” basis, including in office, retail, industrial, healthcare, education, residential, seniors living, hotels and student accommodation.

Energy and Emissions Reduction Minister Angus Taylor said the forestry industry had great potential to contribute to support jobs in 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,” he said.

“The production and delivery of building materials account for 28 per cent of emissions in the construction industry globally. ”

Assistant Forestry and Fisheries Minister Jonathon Duniam said the investment would help support a strong regional industry while also helping to incentivise wood production in Australia.

“Forest industries make an enormous contribution to rural and regional communities across Australia and employ over 65,000 people,” he 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 ­forests.”