The fight over the future of native forests is ramping up ahead of the federal election - and one of Australia's most famous economists has become a prominent voice in the campaign. Ken Henry soared into the spotlight as Treasury boss serving the Rudd and Howard governments. He's now issuing a call to both major parties over climate issues - pushing a plan he claims will help states earn money by slowing or stopping logging.
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00:00On the mid-north coast of New South Wales, a window into the world of one of Australia's
00:10most prominent economists.
00:11It's beautiful. It's a piece of magic, I reckon.
00:17As the son of a logger, Ken Henry, spent his childhood in the bush, the former treasury
00:22boss who served under the Rudd and Howard governments is now a full-time wildlife warrior.
00:29We know that one day the logging of these forests will stop, but the time to do it is now.
00:36He heads a climate group that worked with the New South Wales Government on a plan which
00:40the Commonwealth is considering adopting. He claims states could profit from protecting
00:46native growth forests and using them to store carbon.
00:49Yes, it sounds like I'm saying that money grows on trees, and in a way I am.
00:55Under the proposal, state governments could earn carbon credit through an existing national
00:59scheme for slowing or stopping logging of public native forests.
01:04Big polluters could then buy those credits to offset their emissions.
01:09We estimate that over the next 15 years that would generate revenue of about $100 million
01:15a year.
01:16The climate group commissioned modelling which found 1,700 full-time jobs could be created
01:21in New South Wales if that money was reinvested in managing forests and reducing bushfire risk.
01:28The sector and federal opposition argue thousands more jobs would be lost and Australia would
01:34be forced to import more wood.
01:36Where is that timber going to come from? We have the most stringent environmental standards
01:41in the world here when we harvest our forests.
01:44The industry says it provides valuable products to the housing sector such as decking and flooring,
01:50which it claims could not be made with plantation timber because it's much lower quality.
01:56The suggestion that we can simply create harbour plantations and don't need to attend to our
02:00native forests is untrue.
02:02There are around 2 million hectares of state forest like this around New South Wales.
02:08The Forestry Corporation claims that it harvests less than 1% annually to produce essential timber.
02:14A recent ANU survey of more than 3,500 voters found 42% believed Australia is doing too little
02:22to protect the environment.
02:24We will push to make sure the environment is a priority for the next government.
02:29The major parties are pushing each other.
02:32Their plan will see 2 billion tonnes more of carbon.
02:352 billion tonnes more of carbon as they keep coal in the grid for longer.
02:39Since Labor came to power, there's been no material reduction in emissions.
02:43They have failed.
02:44Both sides are under pressure over their environmental plans.
02:48Mr Dutton, why are you lying to the Australian people?
02:51When will the Labor Party stop funding coal and gas?
02:54The election campaign will soon end, but the climate wars will go on.
03:02What about the Labor Party stop funding coal?
03:07The Labor Party stop financing social or the Labor Party stop financing,
03:12the Labor Party stop financing are providing protection.
03:13What about the Labor Party stop financing?