But if they were to open Frazer Is for hardwood logging [by definition, not clear felling] the CO2 in the structural timber harvested would be sequestered for the life of the structure built, and hardwood is recycled anyway so it may be 200 years before it gets back into the system.
Mature forests are CO2 neutral, ie an old tree must fall before another can grow. When old trees are completely removed it's replacement absorbs CO2.
I love timber homes with hardwood structural members, sadly, the one I'm in now doesn't have one stick of hardwood in it.
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