New government incentive for low carbon timber

The Federal government has announced increased support for the use of low-carbon timber for the building and construction sector, supporting jobs and economic activity while reducing greenhouse emissions.

Master Builders Australia chief executive officer Denita Wawn said the $300 million funding to incentivise the greater use of low carbon engineered wood products in commercial and medium density housing was a big pragmatic policy win for the building, construction and forest industries, consumers, and the environment.

She added: “Master Builders Australia has called for measures that will assist the industry to make use of more sustainable building materials without imposing excessive costs on the industry or consumers.

“This new incentive announced by the Federal Government will help bring down the cost of construction, develop local capacity in low-carbon timber product manufacture, deliver healthier buildings for our clients and the community.

“We have also jointly, with the Australian Products Association, called for measures to tackle a forecast a major shortfall of timber housing frames in the next decade and this measure will have positive flow on effects in addressing this challenge.

“It is these kinds of innovative and practical solutions that produce win-win solutions that mean that builders and consumers can choose more sustainable building materials and healthier buildings without also choosing to take on prohibitive additional costs.”