Central highlands' forests have more carbon value growing than market value logged

The Andrews government is considering
creating a new national park in the central highlands.

Victoria's Central Highlands' forests would potentially generate more income for the state if they were permanently preserved to store carbon rather than logged, according to a major study.

A detailed analysis using a United Nations' system of environmental and economic accounting concludes the net economic contribution from forestry in the area is relatively minor compared to the contribution to the state's water supply, tourism and farming.

The analysis, by a team of environmental accountants, economists and scientists, from the Australian National University's Fenner School of Environment and Society, found native forestry in the central highlands generated $29 of additional net economic activity per hectare in 2013-14.

That compares to a $2023 per hectare contribution to the state's water supply, a $2667 per hectare contribution to agriculture and $353 per hectare from tourism.

Read Josh Gordon’s story in today’s Melbourne Age - “Central Highlands carbon storage worth more than logging.”