This recent article from The Conversation is worth reading.
Summary: Regrowth of forests and woodlands in Queensland, particularly in areas with substantial regrowth, provides valuable habitat for threatened species. While some species benefit from regrowth as young as three years, others require older forests with tree hollows. Retaining regrowth, incentivised through government schemes or market-based carbon credits, offers a cost-effective way to support biodiversity and mitigate climate change impacts.
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