NSW State Forestry
NSW State Forestry: (33° 44′ 24″S, 151° 2′ 15″E) Cumberland State Forest visitors’ centre with 40 hectares of native forest: one third planted in 1938 as an arboretum and the rest naturally regenerating forest tells the story of forestry around the state. Situated in Sydney’s north-west near 95 Castle Hill Road, West Pennant Hills, NSW 2125, the Sydney end of the Great North Walk, and about 3 km from the Great North Walk at Thornleigh.
The Great North Walk Companion extract- pages 259-260
“Well, on one day of our camp we were visited by a group from what was then the NSW State Forest. In fact, I think it might even have included some of their Board.”
“I didn’t expect the State Forest to be your greenies!” exclaims Bob.
“No — neither did I — and they weren’t, back then. But the story they and our Guides heard was a good one. In fact, so good that, later, the NSW government became the first in the world to allow trading in carbon credits.”
“Here?” asks Bob. “We started it?”
“Yes — I followed the story with interest. The State Forest Board persuaded Bob Carr, when he was the Premier, that the creation of this investment opportunity could mean that significant areas of commercial forestry plantation were not only beneficial in creating rural employment opportunities but also became wealth generators twice: selling carbon sinks and later selling logs. New South Wales established the world’s first carbon trade market in the late 1990s.”
Article 3.3 of the Kyoto Protocol links greenhouse gas emissions to possible carbon sinks that can be created by the planting of new forests. To take advantage of such investment opportunity, Forests NSW has taken a lead in sequestering carbon. Whether these newly planted trees are commercially focussed or are semi-commercial (such as in the case of salinity amelioration) or whether they are planted in order to increase biodiversity, a new revenue stream can be created based on the concept of ‘carbon credits’. Income can be generated by selling into this market during the early stages of developmental growth in the forest, providing revenue significantly earlier than waiting for income from harvesting the mature timber. Investment in newly planted forests can therefore look increasingly attractive.