The new scheme, announced by Minister for Industry, Energy and Emissions Reduction Angus Taylor, will promote the use of low-carbon wood in new construction apartments and office buildings to reduce construction-related emissions and create jobs in forest industries.
It may not come soon enough to mitigate the today’s construction cost increase, but it should have a knock-on effect in helping to correct a projected major shortage of timber housing frames over the next decade, according to Master Builders Australia, which welcomed the government’s announcement.
“Master Builders Australia has called for action that will help industry use more sustainable building materials without imposing undue costs on industry or consumers,” said Denita Wawn, chief executive of Master Builders Australia.
“Today’s announcement of $300 million to incentivize greater use of low-carbon engineered wood products in commercial and medium-density housing is a big, pragmatic political victory for industries. building, construction and forestry, consumers and the environment,” she said.
Ms Wawn noted that the new incentive would help reduce the cost of construction while helping to “build local capacity in the manufacture of low-carbon wood products and provide healthier buildings for our customers and the community. community”.
She added that programs like this were needed to incentivize consumers to make more sustainable building choices without incurring outsized additional costs.