Forest Products Industry
Analysis: US stock turbulence throws spotlight on Big Tech's valuations
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2 Better Stock-Split Stocks to Buy Right Now Than Nvidia, According to Wall Street
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Here's How Much Money You'd Have Now If You Invested $10,000 in Warren Buffett's Favorite ETF 10 Years Ago
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3 Ultra-High-Yield Dividend Stocks I'm Buying for Decades of Passive Income
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Michael Saylor Predicts $280T Bitcoin Market Cap at Nashville Conference
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Warren Buffett Has Sold Almost $2.3 Billion of Bank of America Stock -- and It's a Direct Reminder of His $56 Billion Warning to Wall Street
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These Are 3 of the Priciest Stock-Split Stocks on Wall Street -- and Yes, They Should Be Avoided
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AT&T Shares Climb on Subscriber Additions. Should Investors Add the Stock to Their Portfolios?
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1 Historically Cheap Vanguard Index Fund to Buy Before It Soars 40%, According to a Wall Street Analyst
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Why I Loaded Up on This Ultra-High-Yielding ETF After the Nasdaq's Recent Slump
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Attention, Growth Investors: This Biotech Stock Is Crushing Nvidia.
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3 Underrated High-Yield Dividend Stocks to Buy Now and Hold Forever
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Alibaba Shares Jump on Plans to Boost Service Fee for Merchants
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Asian Stocks Kick Off Big BOJ, Fed Week With Gains: Markets Wrap
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Young professionals in the forestry sector highlighted
Young forestry professionals shared their experiences and innovative solutions with senior leaders from the Food and Agriculture Organization of the United Nations (FAO) at the 9th World Forest Week (WFW) event designed to highlight the significant contributions of young professionals in the forestry sector. Source: Timberbiz At the Connecting forestry minds: youth and leaders dialogue, young professionals presented senior leaders with the outcomes of the first forestry-themed Youth Assembly, organized by the Committee on Forestry (COFO) Youth Task Force and the World Food Forum’s (WFF) Global Youth Action, which was held ahead of the 27th Session of the Committee on Forestry (COFO27) and World Forest Week. These outcomes underlined the need for continued support for young professionals interested in a career in forestry, including career growth assistance, valuing young professionals through increased opportunities and responsibilities, improved collaboration between youth and senior employees and experts, and the creation of an innovative environment that incentivizes the use of new and open-source technologies. The presentation was followed by an informal, open discussion between FAO leaders and attendees, giving young professionals and students from the International Forestry Students Association a chance to highlight their contributions to FAO’s mandate. FAO Deputy Director-General Maurizio Martina, FAO Forestry Division Director Zhimin Wu, and FAO Forestry Division Deputy Directors Tiina Vahanen and Ewald Rametsteiner participated in the event, underscoring FAO’s commitment to integrating youth perspectives into its strategic initiatives. “It is inspiring to learn about the work being led by youth in the forestry sector, and important to reflect on how we can continue to ensure the full potential of youth and young professionals to contribute to FAO’s mandate,” said Mr Martina in his opening remarks. The event was organized by the newly created COFO 27 Youth Task Force as part of FAO Forestry’s broader effort to engage, educate, and empower young professionals in the forestry sector. The recent Youth Assembly aimed to support the development of a Youth Roadmap on Forestry, which will advance the XV World Forestry Congress Youth Call for Action, and highlight four key actions: ensuring inclusive and equitable access to forest education and training; providing decent work and career development opportunities; achieving gender equality and empowering young women in the forest sector; and ensuring political participation and representation for all youth in forestry. The collective efforts of the COFO Youth Task Force in the lead-up to COFO brought together young foresters, sparked discussions on creative ideas, and increased familiarity with the themes covered at COFO27 and WFW 2024. The Youth Task Force is set to organize further discussions at two other major forest events in 2024: a special event on the forestry and agriculture nexus during the 4th World Food Forum Flagship in October, and a Youth Dialogue with a focus on restoration event during the 8th Mediterranean Forest Week in November. These also represent key meeting points for global youth to discuss forest-related issues, focusing on different thematic areas and leading to a common way forward, with the goal to establish together a Youth Roadmap in Forestry for the next biennium, as a key outcome document of these three discussions.
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Housing shortages are a worldwide problem
Ursula von der Leyen has been re-elected as the President of the European Commission for a second term of five years. Prior to the vote by Members of the European Parliament she delivered a wide-ranging speech setting out her priorities if she were to be re-elected. Source: Timberbiz One of the strongest parts of her speech was on housing: “Europe faces a housing crisis, with people of all ages and families of all sizes affected. Prices and rents are soaring. People are struggling to find affordable homes. This is why, for the first time, I will appoint a commissioner with direct responsibility for housing. “We will develop a European Affordable Housing Plan, to look at all the drivers of the crisis and to help unlock the private and public investment needed. Typically, housing is not seen as a European issue. Some might say we should not get involved. But I want this Commission to support people where it matters the most. If it matters to Europeans, it matters to Europe.” Observers of the wider European political agenda will notice the synergy at play here with the UK’s newly elected government also intent on delivering polices that will tackle the UK’s housing crisis. For instance, these words from the King’s speech at Westminster delivered the same message as von der Leyen’s speech: “My Ministers will get Britain building, including through planning reform, as they seek to accelerate the delivery of high quality infrastructure and housing”. An increase in the building of new homes across Europe will clearly be of direct benefit to the construction industry and in turn this will be a strong driver for the woodworking industry in general and for the sawmill industry in particular, given that timber products are essential in the construction of new homes. Additionally, the percentage of homes built using wood as the main structural component is rising in both the EU and the UK. Historically increasing housing starts has a strong correlation with increasing wood consumption but over the last few years European housing permits have massively shrunk, to the detriment of the timber industry, and there is no sign that this crisis will bottom out soon – unless there is government intervention. According to the latest available data in February 2024 the combined amount of housing permits in a few mostly large European countries has declined by over 7% (Source: Timber Exchange). This slowdown has been the situation since 2022. Hence the news that the re-elected von der Leyen intends to appoint a commissioner with responsibility for housing (and that the EU Parliament will have a special housing committee) is welcome news to the European woodworking industry who have had a difficult time in recent years and while the industry has displayed a commendable resilience the situation remains challenging. The woodworking industry believes that the most appropriate response to this ongoing challenge is a whole-of-society focus on increasing construction. Such an approach will be good for the economy in general including for the many sectors that depend on construction to thrive and also for wider society given the massive increase in real estate prices over the last few years which have over the long-term significantly exceeded both salary and inflation increases. Clearly the procedures allowing access to building permits need to be simplified and made faster across Europe including in the UK. In a similar vein the regulatory burdens on building need to be shrunk. Taken together these should be the first priorities of the Housing Commissioner, when appointed.
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