Applications are now open for the latest round of grants under the Albanese Government’s Support Plantation Establishment Program (SPEP) — a $300 million initiative to accelerate tree planting, bolster Australia’s timber supply and support net-zero goals by registering new plantations under the ACCU scheme.
Speaking at yesterday’s National Farmers’ Federation AgXchange conference, Minister for Agriculture, Fisheries and Forestry Julie Collins said the investment will “strengthen and support a sustainable forestry sector now and into the future.”
The announcement earned immediate praise from the Australian Forest Products Association. CEO Diana Hallam, whose industry group lobbied hard for SPEP, said the program will boost domestic production, improve ACCU’s cost efficiencies, and reduce reliance on imports. “This partnership is critical to meeting future housing demand and ensuring our forestry sector remains competitive,” she said.
Collins also confirmed that government consultation will soon begin on a National Bioenergy Feedstock Strategy to capture wood-fibre residues for renewable energy: “Supplying bioenergy feedstocks is an exciting commercial opportunity for our farmers, foresters and regional communities,” she told delegates, projecting the market could reach $36 billion by 2050 and cut emissions across aviation, maritime and road transport.
Industry figures note that mill and manufacturing residues already power on-site energy systems and by-product lines, but a coordinated strategy could unlock much broader markets: “Broadening the scope for these residues in bioenergy is something AFPA has long advocated,” Hallam added, pledging close collaboration with government on the new strategy.
