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Stock market today: Wall Street tumbles on strong jobs numbers and doubts about future rate cuts
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Cryptoverse: Next wave of US crypto ETFs already in the pipeline
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Nomura hires Sudhir Nemali as international wealth chief operating officer
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China's Zijin Mining in talks to buy controlling stake in Zangge Mining
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Oil prices rally 3% as US hits Russian oil with tougher sanctions
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Red-Hot Singapore Index Has Room to Run on Global Uncertainties
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Fox Must Face Smartmatic’s Defamation Lawsuit, Appeals Court Rules
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Musk asks state AGs to auction off OpenAI stake in nonprofit restructuring, sources say
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Three of the world’s most resilient trees
Trees provide myriad benefits, from being a source of food to absorbing carbon and even contributing to gender equity. But across the planet, tree and plant species face many threats, including from the climate crisis, disease and deforestation for urban development and agriculture. Source: Timberbiz More than 1 in 3 tree species worldwide are at risk of extinction, according to new research from the International Union for Conservation of Nature and Natural Resources (IUCN). Urgent action is needed to scale up local, national and international tree conservation efforts, says the report. And while this help will be vital, there are many examples of how trees themselves can be resilient or adapt to adverse conditions while providing multiple benefits to the ecosystems and people around them. These are three resilient trees. The baobabs For centuries, Africa’s baobabs have been an important source of food, fibre for ropes or clothing, and medicine; supporting rural communities across the continent. This includes creating a livelihood for many women who collect and sell the trees’ fruit. The tree is also important for carbon sequestration, soil health and biodiversity. Recent research suggests that adult populations of this iconic ‘upside-down tree’ are thriving and do not appear to be dying off any faster due to the climate crisis. They are vulnerable to animals, including livestock which are partial to their roots. But many baobabs live for a long time, with some of the oldest reaching 2,500 years of age. This means that they are used to surviving harsh conditions. Alongside having non-flammable bark that makes them resistant to wildfires, they store large amounts of water in their trunks to survive dry seasons. Experts have found they will likely have experienced extensive fluctuations in rainfall during the past 1,000 years. The baobab is among the trees identified for their environmental, social and market potential in Africa’s Sahel region by 1t.org, the World Economic Forum’s platform for the trillion trees community. The project works to mobilize the private sector to conserve, restore and grow a trillion trees by 2030. The Giant Sequoias The largest trees in the world by volume, giant sequoias are indigenous only to the US state of California. They can grow to heights of 90 metres and the oldest is more than 3,200 years old. Part of the secret to this long life is that sequoias are resistant to insects and disease and have thick bark and high canopies that protect them against fires. In fact, fire helps them reproduce by removing competitors for light, water and food and releasing the seeds from their fallen cones so they can reproduce. In recent years, however, the effects of drought on the land, as well as the taller trees around them, have made giant sequoias more vulnerable to fire. Giant sequoias also have an impressive ability to capture and store large amounts of carbon dioxide over their lengthy lifespans. Experts say one tree can pull about 85 kg of carbon out of the atmosphere per year. Scientists say the trees grow best in their home in the Sierra Nevada mountains. But a recent study in the United Kingdom has found that giant sequoias, introduced to the country 160 years ago, are well adapted to the milder climate and are growing at rates close to their native ranges. The researchers note, however, that long-term consideration should be given to how they will thrive in the UK’s changing climate in the coming years. Mangroves Mangroves are trees and shrubs that have adapted to live in intertidal zones – areas where the ocean meets the land between high and low tides. They can be found on tropical and subtropical shores everywhere from Florida to South America, Africa to South-East Asia, which is home to nearly a third of all mangroves. They have grown to survive in hot, muddy and salty conditions that would kill off most plants. And they bring many benefits. Mangrove forests are among the most biodiverse places on Earth, providing a home for many species, from fish and sharks to hummingbirds and even tigers. They have an important role in coastal communities too, acting as a barrier against waves and storm surges. In fact, they protect more than 15 million people globally and reduce property damage by $65 billion. And they are very effective at capturing and storing carbon, up to five times more carbon per acre than tropical rainforests. However, the world’s mangroves are under threat from human activity, with up to 35% estimated to have disappeared since 1980. Experts say large amounts of mangrove habitat loss is restorable and initiatives such as the Vida Manglar project in Colombia are working with communities to do so. This project is an example of how close cross-sector collaboration between non-profits, communities and governments can help restore thousands of acres of this invaluable species.
Categories: Forest Products Industry
Decreasing logging in EU affects logging in other countries
The EU’s climate and biodiversity policies have a very large impact on European forestry, according to the preliminary results of a research project by Maarit Kallio, professor of forest economics and forest policy. Source: Timberbiz According to preliminary results, achieving the LULUCF Regulation targets and the EU Biodiversity Strategy would require a reduction of 132 million cubic metres in felling in EU countries and Norway compared with the so-called baseline development in 2035. A quarter of the reduction would occur in the Nordic countries, the rest in the rest of the EU. In addition, sawmill and panel industry production in particular would decrease in the EU. Globally, logging would not decrease much, as 2/3 of the reduction in logging in the EU would be offset by increased logging elsewhere in the world. The largest logging outflow would be to North America (38%), South America (25%), and China and the rest of Asia (19%). Professor Kallio from the Norwegian University of Life Sciences presented the preliminary results of the research project “Leakage effects of EU biodiversity and climate policies on the global forest sector and its sustainability” at a seminar held in December 2024. The research project was funded by the Finnish Forest Foundation. “With the logging boom, the EU is losing the economic benefits of the forest sector to the rest of the world. At the same time, the risk of biodiversity and climate challenges spilling over outside the EU increases,” stated Professor Kallio at the seminar. Decreasing logging in the EU would result in a significant leakage of logging to countries where the risks of biodiversity loss are greater than in the EU. For example, these countries have higher species richness, lower coverage of protected areas and less controlled use of forests. “Assessing the overall impacts of policy measures is important and Kallio now brings a global perspective. Significant logging leakages from the EU to the rest of the world show the ineffectiveness of EU policy measures,” said Martta Fredrikson, CEO of the Finnish Forest Foundation. In the research project, Kallio used scenario analysis to compare the development of the forest sector with and without EU policy measures. The project compared the effects of the EU Biodiversity Strategy and the LULUCF Regulation up to 2035. Driven by global demand, the EU and Norway’s logging volume is expected to increase from the more than 500 mil-lion cubic meters (FAO) in recent years to approximately 580 million cubic meters in 2035, according to the so-called baseline. The results on the biodiversity strategy are new and the article Potential impacts of the EU’s biodiversity strategy on the EU and global forest sector and biodiversity is under peer review. Kallio’s preliminary results on the impacts of the LULUCF Regulation are an update to previously published studies on the subject (2018 and 2022) and a corresponding article on these will be peer reviewed early this year.
Categories: Forest Products Industry
The Edison a 378-unit mass timber apartment in the US
US real estate development company Neutral has secured $US133.3 million in construction financing for its development project, The Edison, a 378-unit, mass timber, luxury apartment project in Milwaukee, Wisconsin. Source: Timberbiz Bank OZK provided senior financing, and Pearlmark delivered the mezzanine financing, with JLL Capital Markets working on behalf of Neutral to facilitate the transaction. The Edison, located at 1005 North Edison Street in Milwaukee, will total 308,913 residential rentable square feet and 378 residential market-rate units (studio, one, two and three bedroom) as well as approximately 7,200 square feet of complementary retail space. The project will feature best-in-class amenities focused on residents’ wellness, including a cafe, fitness centre, spa, pool, sauna, demo kitchen, dog park, movie room, com-munity garden, entertainment deck with kitchens, and a top-floor sky lounge. The Edison represents Neutral’s commitment to redefining conventional development with innovation in sustainability and well-being: At 31 stories, The Edison is on track to be the tallest mass timber building in North America and one of the tallest mass timber structures globally. The Edison blends exposed mass timber with abundant natural materials and state-of-the-art ventilation systems, creating an environment that nurtures both resident well-being and environmental sustainability. The building’s materials are estimated to reduce embodied carbon footprint by 17% (without accounting for biogenic carbon) and 54% (with biogenic carbon), as well as reduce the operation carbon footprint and energy consumption by 45% compared to conventional buildings of the same typology and use. Edison will pursue Passive House certification from PHIUS 2021 Core Standard, one of the leading and strictest certifications for energy-efficient buildings. The Edison will also pursue Living Building Challenge 4.0. Core Certification, focused on regenerative buildings and overall resident well-being. The Neutral development team is led by CEO Nate Helbach, CPO Daniel Glaessl and CTO Matt Frazer. “We’re grateful to partner with Bank OZK and Pearlmark and for JLL Capital Markets’ leadership in facilitating this milestone financing. Successfully securing funding in to-day’s challenging financial market environment underscores the strength of the project’s fundamentals and our exceptional project team,” said Helbach. “With The Edison, we’re demonstrating that innovation in sustainable high-rise construction is both technologically and financially feasible. Edison will pursue some of the strictest sustainability standards, like passive house certification, by PHIUS 2021. We are also implementing design guidelines of LBC 4.0 Core Certification that focuses on the overall well-being and happiness of the people who will live and work in The Edison.” said Glaessl. Pearlmark team was led by Managing Director Mark Witt. “We are excited to be involved in the financing of this project with Neutral, a repeat sponsor of the firm. This project has a great location on the Milwaukee River and steps away from the Deer District, with its numerous entertainment and food options.” said Witt. The JLL Capital Markets team representing the borrower was led by Director Mike Brady, Associate Tara Hagerty and Analyst Merrick Evans. “We are thrilled to be a part of this team to not only add a unique luxury living option to Milwaukee but also advance mass timber developments. We believe this project will set a new standard for elevated living.” said Brady. Project construction is expected to start in the first quarter of 2025 and is expected to be complete in the second quarter of 2027, Neutral officials said.
Categories: Forest Products Industry
A baby tree in competition for tree of the year
A baby totara tree at the east end of Clarkville’s Silverstream Reserve in New Zealand has been entered in the Waimakariri Tree of the Year competition. Source: Star News The tree was nominated by Noelene Francis, of Clarkville, who in 2023 won the individual award at the Waimakariri District Council Community Service Awards for her volunteer work at the reserve. Ms Francis said the totara was planted in 2016, three years after volunteers began a concerted effort to plant and look after the reserve. It was planted among established pittosporums to provide the early protection totaras need and is now thriving. “It is very happy growing among its sheltering companions,” she said. She believes the totara is a worthy Waimakariri Tree of the Year candidate because it is a “true icon” in the making. “I know it is just a baby, and you can’t see it very well, but it will be magnificent and given the stony, dry area it is planted in it is doing well.” All entries for the 2025 Waimakariri Tree of the Year will go in a draw to win a copy of Peter Wohlleben’s The Hidden Life of Trees the Illustrated Edition. The competition has been organised by the Waimakariri District Council’s greenspace team. Nominations can be sent to Mike Kwant at ParksandFacilities@wmk.govt.nz until Friday, 28 February 2025. The competition aims to identify trees to nominate for the New Zealand Tree of the Year. Entries for the New Zealand Tree of the Year competition can be made from mid-March to mid-April and an expert panel will select six finalists. Then from May 1, the public will be invited to vote for the tree they want to become New Zealand Tree of the Year from those finalists. The winner will be announced on 5 June 2025 – Arbor Day. The objective of the national competition is to celebrate New Zealand’s most interesting trees and acknowledge the stories that connect communities to them. Last year’s winner was named the ‘Walking Tree’. It is a northern rata on the South Island’s West Coast, near the Karamea Cemetery, with twin trunks stretched apart as if it was in mid-stride and wearing high heels. For more information about the New Zealand Tree of the Year competition and the Walking Tree, visit www.treeoftheyear.co.nz
Categories: Forest Products Industry
House of Science launches new Forest Health kit
House of Science in New Zealand has launched an educational kit for primary school students, taking a mātauranga Māori approach to forest health and environmental issues such as myrtle rust and kauri dieback. Source: Timberbiz Activities in Te Ora o te Wao | Forest Health kit allow students to explore native forests through audio soundscapes, compare giant trees such as kauri and pōhutukawa and learn to conserve forests by dissecting seeds, studying tree growth and understanding diseases including kauri dieback. The kit also includes Scion’s interactive app E Heke e Heka! and the augmented reality tool Mātaihia Te Heka!, which help rangatahi identify other threats such as myrtle rust. House of Science CEO and founder Chris Duggan says the kits give young learners practical knowledge to understand and help protect New Zealand’s native ecosystems, inspiring the next generation to become stewards of our forests and environment. “By age 10, most children have formed a strong impression of careers they can see themselves doing. If science hasn’t been part of their lives by then, the chance they’ll follow this pathway is slim. “Empowering primary school teachers to deliver engaging science lessons will ensure a workforce with the necessary skills to embrace and support the future of work.” Te Ora o te Wao | Forest Health kit is part of a library of hands-on, bilingual science resource kits covering a range of topics, including electricity, climate change and soil. “Careers in science, technology, engineering and mathematics are at the heart of many future workforce requirements and underpin the transition to a climate-resilient, sustainable, low-emission economy,” Mr Duggan said. Katerina Pihera-Ridge, Scion’s Portfolio Lead for Restoration, Protection & Mauri o Te Waonui a Tane, says the inclusion of E Heke e Heka! and Mātaihia Te Heka! in the kit is significant. “It will make the app directly available to all House of Science member schools and kura, presenting myrtle rust science in Te Reo Māori and English and allowing young learners to engage with this environmental knowledge in a relevant and interactive way.” Ms Pihera-Ridge led the development of the app after recognising a significant gap in accessible resources about myrtle rust, particularly in Te Reo Māori. “We identified a need to make scientific knowledge more accessible to whānau, communities and rangatahi,” she said. “This app offers an interactive learning experience that helps young people understand the impact of myrtle rust and empowers them in their roles as kaitiaki.” The kit is guided by the BioHeritage National Science Challenge’s Oranga – Wellbeing program, which combines Māori perspectives on well-being with scientific strategies for biosecurity, ecosystem health and resilience. Thanks to sponsorship from the BioHeritage National Science Challenge and the Freemasons Foundation, most House of Science branches nationwide will have two copies of the kit. “We have 20 House of Science branches serving over 700 schools across most of the North Island and Christchurch, and our kits have the power to reach more than 170,000 schoolchildren each year,” Mr Duggan said. Andrea Acton, a teacher at Bethlehem School, who recently trialled Te Ora o te Wao | Forest Health kit, says it was an outstanding resource that captivated the students’ interest. “We integrated it seamlessly across the curriculum, which inspired some of the best creative writing students have done all year. They also created posters full of newly learned facts and are thoroughly enjoying this hands-on, science-based approach to learning.” Te Ora o te Wao | Forest Health kit marks the second collaboration between Scion and House of Science. In 2022, they partnered to create “A Load of Rubbish”, a kit that introduced students to the six Rs of resource management – rethink, refuse, reduce, reuse, recycle and repair.
Categories: Forest Products Industry
Giant pine scale in Adelaide’s north east
Giant pine scale, or GPS, has been detected in Adelaide’s north-eastern suburbs following ongoing surveillance of an area where infected trees were removed in the Highbury Aqueduct Reserve and Hope Valley Reservoir Reserve last year. These sap-sucking pests have the potential to impact the state’s $1.4 billion forest industry. Source: Timberbiz The Department of Primary Industries and Regions is currently working with the Department for Environment and Water, SA Water, the South Australian forest industry and the City of Tea Tree Gully in managing this latest outbreak. Trees are being removed in the Highbury and Hope Valley areas, in order to protect both local street trees, surrounding urban forests and the South Australian forestry sector. Any wildlife found to be present, including protected animals and the eggs of protected animals, is being managed appropriately in accordance with relevant legislation. A spokesperson for the State Government said that they understood the loss of mature trees would have an impact on the Highbury community, and that the decision to undertake tree removal had not been made lightly. “Given the risk giant pine scale poses, it is important that all steps are taken to eliminate this pest insect,” the spokesperson said. “To protect street trees and the parks and gardens within the Highbury and Hope Valley areas, as well as South Australia’s $1.4 billion forest industry, there is an urgent need to contain the pest insect through the removal of affected and surrounding trees. “Other eradication options have been trialled in the area in an effort to reduce the impact of tree removal, however they have not been successful in full eradication of giant pine scale. As a result, the removal of trees remains the best-known option for eliminating the pest. “Previous giant pine scale detections at Dernancourt and North Adelaide in 2014 and Highbury in 2018 were successfully controlled through using this same approach and we are confident that the removal of these final known GPS-infected trees in SA will be again successful in mitigating this pest.” With human activity a known key driver of giant pine scale spread, particularly through the pest sticking onto shoes, clothing or equipment, a restricted area has been established around the infestation site, including the closure of the Aqueduct Trail. Visitors to Highbury Aqueduct Reserve are advised not to enter the restricted area or remove any wood material from the reserves. Once the tree removals are complete the restricted area will remain in place for up to three months to ensure that there are no live giant pine scale remaining onsite prior to re-opening for public access. The tree removal site will be remediated including revegetating with local native species of trees, shrubs and grasses when seasonal conditions are optimal for planting. Native to the eastern Mediterranean region, giant pine scale (Marchalina hellenica) causes branch dieback, gradual desiccation and tree death. It feeds exclusively on plants from the pine family, such as introduced pines, firs and spruces. “With surveillance so critical to this stage of the response, all agencies involved are calling on the public, particularly local residents, to report anything that looks suspicious,” the spokesperson said. Giant pine scale can be detected by looking for masses of the characteristic white cotton-like secretions on the trunks and branches of pine trees. If you see or suspect giant pine scale, report it to the Exotic Plant Pest Hotline on 1800 084 881. Further information on the pest is also available at www.pir.sa.gov.au/giant-pine-scale For enquiries regarding the management of giant pine scale at Highbury Aqueduct Reserve, email NPWS-AMLR-PLS@sa.gov.au For enquiries regarding the management of giant pine scale at Hope Valley Reservoir Reserve, contact SA Water on 1300 SA WATER (1300 729 283).
Categories: Forest Products Industry
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