Forestry Corporation reports worst loss ever on native forest logging
 

The NSW Forestry Corporation has just reported its worst loss ever from native forest logging, losing $29 million on its hardwood logging operations in the past year. This was in spite of receiving direct taxpayer grants of over $49 million.
The figures are revealed in the Corporation’s Annual Report for 2023/24 just released.
Spokesperson for the South East Region Conservation Alliance (SERCA), Harriett Swift says that the huge loss makes it clearer than ever that there is absolutely no justification to continue logging native forests.
On the south coast the industry continues to be driven by export woodchipping, which has an uncertain future and sadly, the cost to the public is not just financial.”.
“The climate, wildlife, the soil and water quality are suffering and we all face an increasing bushfire risk from years of intensive industrial logging,” Ms Swift says.
The loss on native forest logging is almost twice the $15 million loss reported the previous year and compares starkly with a profit of $22 million by the Softwood Plantation Division.
“This brings it into direct conflict with its charter, which states that the corporation’s main purpose is to run a successful business and build its long-term value and benefit the people of NSW.
“The latest loss of $29 million logging from hardwood forests, equates to a loss of $3,058* for each hectare logged .
"It is outrageous that we are paying such a ridiculously high price to log the homes of Koalas, Greater Gliders and so many other threatened species in State Forests,” Ms Swift says.
15 December 2024
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*The FCNSW 2023/24 Biomaterial Report states that 9,484 ha of native forests were logged.