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Microsoft outage leaves China largely untouched as tech self-sufficiency campaign pays off
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This 5.5%-Yielding Dividend Stock Supercharges Its Growth Engine by Adding Nearly $2 Billion of Fuel
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Looking for Dividends and Growth? You Won't Regret Buying These 2 Top Stocks
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Nvidia Recently Completed a 10-for-1 Stock Split: Here Are the 3 Likeliest Candidates to Become Wall Street's Next Stock-Split Stocks
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75% of Warren Buffett's $416 Billion Portfolio Is Invested in 5 Unstoppable Stocks
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Stock market today: Dow falls 533 points as tech rout spreads to the broader market
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The rout in tech stocks is a 'golden buying opportunity' for investors, analyst says
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TSMC shares fall sharply amid Nasdaq plunge, despite strong earnings
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UK Timber Design Conference outcomes
Leading low-carbon developers called on the next Government to ‘kickstart a timber revolution’ at the UK Timber Design Conference in London held recently. More than 200 developers, local authorities, insurers, engineers, architects, contractors and manufacturers gathered at Timber Development UK’s (TDUK) inaugural UK Timber Design Conference to hear from industry leaders. Source: Timberbiz Opening the event, Richard Walker OBE, executive chairman of Iceland Foods and innovative developer Bywater Properties said timber’s critical role in decarbonizing construction must be recognised and accelerated with the support of the next Government. “The need for us all in property to do more and at pace to tackle the climate emergency is urgent. But we can’t do it without the help of government: the next government must kickstart the timber revolution that’ll be absolutely critical in delivering carbon reductions.” In particular, Mr Walker highlighted the need for a new Government to take bold action to unlock sustainable development with a planning system which supports rather than inhibits those choosing to build the low-carbon, efficient buildings we need today. Mr Walker said businesses have a critical part to play in creating a positive impact on people, places, and the environment. This has been a passion of his across both his roles; in retail and in property development – where embracing sustainable timber is an active choice. “Conviction-led moments of passion, like Bywater moving into timber – or Iceland banning palm oil products – are pivotal moments for an entrepreneurial business. We need to seize those opportunities and nurture them.” Bywater Properties was among a range of developers at the conference discussing their efforts to decarbonise construction along with Related Argent, developer of Brent Cross Town, and Human Nature, developer of Phoenix in Lewes. David Hopkins, chief executive of TDUK, agreed with the sentiment restating the importance of partnership between industry and Government to reshape how we build in the UK, and embrace the many incredible businesses already delivering low-carbon construction. “The speakers we had across the conference, and every individual in the room, demonstrated an ambitious and dynamic industry ready to lead construction to a more sustainable future – using existing solutions to overcome our housing and climate crises. “Embodied carbon, which could account for up to 40% of the carbon emissions of construction between now and 2050, is completely unregulated. The high-carbon, low efficiency methods which dominate England today will cause us to fail to meet our net zero targets. “We need change now. The next Government must signal from day one, they are willing to take on the challenges of building low-carbon today by bringing forward legislation – like Part Z – to begin measuring and reducing these carbon emissions as a top priority.” In a panel session on the future of housing, John Smith of Donaldson Timber Systems said the industry was prepared. They are already manufacturing systems which go beyond the needs of the Future Homes Standard, while James Turner of architects Mikhail Riches said they were regularly designing and delivering low-carbon housing schemes to a Passivhaus standard. The readiness of industry to deliver low-carbon solutions, which can reduce both embodied and operational carbon today, was echoed right across the conference, especially in the final session, which looked at what the next Government could do to unleash a wave of sustainable construction right across the UK. Speakers including Zoe Watson from UK Architects Declare, Will Arnold from iStructe, and Brigitte Clements from ACAN! posed powerful policy recommendations widely agreed by industry which would support construction to decarbonise at scale. Key asks included ‘regulating embodied carbon’, ‘incentivising retrofit’, ‘investment towards biobased materials’, ‘circularity principles reflected in policy’, ‘alignment of net zero with housing’, ‘investment in skills training’, and ‘decarbonisation in government procurement’.
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Grand Roof for Japan World Expo
On June 30, 2023, the assembly of the Grand Roof (Ring) that will be the symbol of the Japan World Expo site began in the PW Northeast construction area on Yumeshima, the site of Expo 2025 Osaka, Kansai, Japan. Source: Timberbiz The Grand Roof is being built for the next World Expo on the man-made island of Yumeshima with about 20,000 cubic metres of wood and constructed using traditional Japanese techniques with no nails. The units, consisting of 420mm square lumbers and 210mm x 420mm beam timbers were pre-assembled on the ground, then lifted and put together by crawler cranes. The wooden Ring was assembled sequentially from the areas where the foundation work was completed. Most of the giant timber roof has been erected, it has a height of 20 metres and contains an eight metre walkway. When completed, the Grand Roof (Ring) will be one of the largest wooden structures in the world, with an inner diameter of approximately 615 meters and a circumference of approximately two kilometres. The next thing to be built is the Forest of Tranquility which is eight signature pavilions and hundreds of country pavilions mostly made of Japanese wood and located inside the wooden ring.
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World forests absorbed more than 100 billion tonnes of carbon dioxide
The world’s forests have absorbed more than 100 billion tonnes of carbon dioxide over the past three decades, but they need more protection, according to a new study. Source: Timberbiz Professors Oliver Phillips and Simon Lewis from the School of Geography contributed to the tropical component of the global study, which assessed how the most carbon-rich, species-rich forests have responded to climate change and other threats since 1990. The study, entitled “The enduring world forest carbon sink,” is published in Nature. It combined long-term ground measurements with remote sensing data to measure the volume of carbon dioxide absorbed by forests across the world. The results showed that forests have absorbed more than 100 billion tonnes of carbon dioxide over the past 30 years, nearly half of the carbon dioxide emissions from burning fossil fuels over the same period. Forests remain an essential part of climate change mitigation. However, they are facing threats from deforestation and wildfires. This study makes recommendations for their protection and restoration. Keep forests standing and healthy and they provide huge climate benefits. Professor Oliver Phillips leads RAINFOR: The Amazon Forest Inventory Network, an international collaboration to understand Amazon ecosystems, and the global ForestPlots.net alliance which monitors forests in over 50 countries. “The extraordinary persistence of the carbon sink shows the great resili-ence of nature to climate change so far,” he said. “Right now, deforestation, fire and logging are damaging forests everywhere, but drought less so. Helping Earth’s forests resist climate change means keeping them as intact, healthy and vibrant ecosystems.” Professor Simon Lewis, who leads the African Tropical Rainforest Observation Network, said that undisturbed African tropical forests, including the vast forests of the Congo Basin, are making a remarkable contribution to slowing climate change by absorbing carbon from the atmosphere. “The message from the tropics is clear: keep forests standing and healthy and they provide huge climate benefits,” he said. “What is needed are formal collective land rights for local people who have a long-term stake in the survival of their forests, and financial mechanisms to make forests worth more alive than dead.” Professor Phillips added that we know what has happened thanks to partners measur-ng inside forests for decades. It bears reflection that careful, on-the-ground work by dedicated tropical scientists is absolutely essential. Without them we wouldn’t understand how forests are faring. The research was co-led by USDA Forest Service Northern Research Station Senior Research Scientist Yude Pan and Senior Scientist Richard Birdsey from Woodwell Climate Research Center, alongside 15 co-authors from 11 countries. “Our research team analysed data from millions of forest plots around the globe. What sets this study apart is its foundation in extensive ground measurements – essentially, a tree-by-tree assessment of size, species, and bio-mass,” Dr Pan explained. “While the study also incorporates remote sensing data, a common tool in national forest inventories and land surveys, our unique strength lies in the detailed on-the-ground data collection.” The research investigated forests across the world including boreal forests in Northern Hemisphere areas across Alaska, Canada and Russia, tropical forests such as the Amazon Rainforest and the Congo Basin Forest, and temperate forests in between. They found that the carbon sink capacity of boreal and tropical forests has significantly decreased. Boreal forests have experienced a 36% drop in capacity due to disturbances like wildfires, insect outbreaks and soil warming. Deforestation has caused a 31% decline in tropical forests’ ability to absorb carbon. However, regrowth in agricultural and logged areas has partially offset these losses. In contrast, the carbon sink capacity of temperate forests has increased by 30%. This is largely due to extensive reforestation efforts, particularly in China. Their recovery shows how land management policies and practices can help to preserve this global carbon sink. Calls for research and protection of forests The study makes recommendations to support forests across the world. It calls for an end to deforestation and for more restoration. It suggests improvements to timber harvesting practices to minimise emissions and disruptions to forests. The study acknowledges the need for increased research in the tropical regions where there are fewer ground sampling plots.
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New home sales increase
Sales of new homes nationally increased by 15.7% in the June quarter 2024 compared with the March quarter indicating that the number of homes commencing construction is set to increase later this year. Source: Timberbiz The HIA New Home Sales report is a monthly survey of the largest volume home builders in the five largest states and is a leading indicator of future detached home construction. HIA Economist Maurice Tapang said that this increase in sales was first observed in Western Australia in the second half of 2023 when sales in that market started to increase. “This year, sales in Queensland and South Australia have also observed a sustained increase in recent months,” Mr Tapang said. “Driven by this increase in sales in these three states, new home sales in the June quarter 2024 were 20.4% higher compared to the same period in the previous year. “With the sales recovery in these markets now sustained, an increase in the number of new detached houses commencing construction will be observed in the second half of this year, albeit from a low base,” he said. Market confidence was returning as the impact of rate increases dissipated and the shortage of housing stock made new home building increasingly attractive. “These three markets have seen demand for new homes increase due to strong employment opportunities and relatively affordable land, driving local population growth,” Mr Tapang said. “At the same time, new home sales in New South Wales and Victoria remain weak despite simi-lar growth in demand. The adverse impact of rate rises is more significant here due to the higher cost of residential land in Sydney and Melbourne.” Sales in New South Wales and Victoria had also been constrained by the introduction of addi-tional regulatory costs, through the National Construction Code which had distorted sales data. “As a result, there is not the significant or sustained increase in sales required to expect an in-crease in home building in either of these markets,” Mr Tapang said. “The higher cost of delivering a new house and land package, due to higher taxes, fees and charges in these markets, is impairing the recovery of detached home building.” The ABS also released its Building Activity data today for the March quarter 2024. This data pro-vides estimates of the value of building work and number of dwellings commenced, completed and under construction across Australia and its states and territories. “There were 39,720 dwellings that commenced construction in the March quarter 2024. This is 0.5% higher compared to the previous quarter, but 13.5% below compared to the same quarter in the previous year,” Mr Tapang said. “Australia completed 41,330 dwellings in the March quarter 2024, which is 9.5% lower than the previous quarter and 8.1% lower compared to the previous year. “There were 25,600 detached homes that were completed in the March quarter 2024, down by 16.8% compared to the previous quarter and down by 8.9% compared to the previous year,” he said. “The volume of residential dwellings under construction rose marginally in the quarter but remained lower than at the same time in the previous year. This suggest that home building will not continue to drag on GDP growth.” New home sales saw the largest increase in the June quarter 2024 in New South Wales, up by 32.8% compared to the March quarter, followed by South Australia (+29.3%), Queensland (+19.5%), Victoria (+10.3%), and Western Australia (+7.8%). New home sales in the financial year 2023/24 increased by 25.4% in Western Australia, followed by Queensland (+10.6%) and South Australia (+2.3%). The two other states recorded a decline in 2023/24, with Victoria down by 7.6% and New South Wales down by 7.5%. Dwelling commencements in the March quarter 2024 increased by 24.9% in Western Australia compared to the same quarter in the previous year, followed by the Australian Capital Territory (+24.7%). The other jurisdictions recorded a decline in commencements, led by the Northern Territory (-41.2%) followed by Tasmania (-37.0%), New South Wales (-29.7%), Victoria (-13.8%), Queensland (-9.5%), and South Australia (-4.8%).
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BRANZ survey shows heightened awareness of engineered wood
A significant upsurge in mass timber awareness and application has been highlighted by the Building Research Association of New Zealand (BRANZ) in its survey of building and construction experts. Source: Timberbiz Wood Processors and Manufacturers Association Chief Executive, Mark Ross, says the finding is encouraging and signals an increased adoption of engineered timber products in New Zealand by builders, designers and architects. “The timber that we are talking about is not only renewable but has environmental advantages over steel and concrete when it comes to carbon storage and durability,” Mr Ross says. “With New Zealand’s sustainable forestry model, using locally grown timber supports our circular bioeconomy, climate change targets, and domestic processing of logs. “Forecasting by Deloitte’s indicates that changing our market share to timber by 25% would result in the removal of an additional 920,000 tonnes of carbon dioxide from the environment each year.” Greater use of timber was critical to rebuilding New Zealand’s economy, boosting GDP, and providing regional jobs in a highly productive sector. The BRANZ survey is carried out biennially. Data compared over a period of five years highlights noticeable growth in the role of mass timber use in New Zealand construction. This mirrors global trends, with the engineered wood products market projected to grow by 77% to NZ$268 billion by 2031. Changes in engineered timber use can be attributed to a heightened focus on carbon-neutral construction practices, the increasing demand for energy-efficient buildings, and consumer preference for natural materials. The BRANZ survey is supported by Mid-Rise Construction https://midrisewood.co.nz/ a co-investment program between MPI and Red Stag, which is stimulating the use of mass timber engineered wood products in construction. You can download the report here.
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SA sending firefighters to Canada
The SA Country Fire Service (CFS) will send nine firefighters to Canada on Saturday morning to deal with their escalating wildfire situation. CFS answered the call to send volunteers and staff to assist Canada’s incident management and fireground leadership teams in the provinces of Alberta and British Columbia. Source: Timberbiz “The CFS embraces opportunities to support overseas agencies, and this is the second consecutive year our firefighters have been deployed to Canada,” State Duty Commander, Matt Davis said. “CFS firefighters are highly trained and highly respected, and we will not only support Canadian firefighters but also refine and gain additional skills to better protect our communities ahead of the Fire Danger Season.” The South Australian contingent will join approximately 90 other personnel from our interstate partner agencies for a deployment which could last up to 40 days. The CFS crew, which includes two firefighters from the Department for Environment and Water, will be: Libby Mapletoft, Fire Behaviour Analyst, Adelaide and Mount Lofty Ranges Phil Tapscott, Divisional Commander, Region 4 Operations – Port Augusta Keagan Porter (Minlaton), Hayden Linggood (Cherry Gardens) and Steven Douglas (McLaren Flat), Sector Commanders Nat Tanti, Resources Officer, Adelaide and Mount Lofty Ranges Matthew Allan (Region 1 Ops – Mt Barker) and Shaun Irrgang (Jamestown), Strike Team Leaders Bruce Hull (Region 1 Operations – Mt Barker), Supply Officer There are currently hundreds of active fires in the Canadian provinces and local firefighters have been battling the fires on foot and using heavy machinery to create containment lines. The SA crews will operate in control centres and those trained in arduous firefighting will be in frontline positions. “The skills and capabilities of our emergency services members are highly regarded around the world and South Australia stands ready to assist,” Acting Minister for Emergency Services, Susan Close said. “Undertaking deployments like these demonstrates how personnel are ready to put their own lives on hold to help communities in need, regardless of where they live.”
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Future of Heyfield grant for the next phase
The transition of the Future of Heyfield project from Wellington Shire Council to the Heyfield Community Resource Centre has received a $486,940 grant for the project’s next phase. Source: Timberbiz The grant has been made available through the State Government’s Forestry Transition Program to continue the project for the next two years. “HCRC is proud to lead the next steps of the Future of Heyfield project. The funding will ensure that the ideas sparked within the working groups will be supported and implemented for the benefit of the local community and economy,” Resource Centre Coordinator Caroline Trevorrow said. The Community Development Fund grant will enable the Heyfield Community Resource Centre to take the lead on the important work started by the Wellington Shire Council as part of the Local Development Strategy program The funding will support the Heyfield Community Resource Centre to become the centre of several innovation working groups, providing a range of services from meeting and event facilitation, grant writing assistance, project management through to community engagement activities. This also includes the implementation of plans developed through the Local Development Strategy for health and active ageing initiatives, the visitor economy and agriculture. The Heyfield Community Resource Centre has been an integral part of the Heyfield community since 1988, providing a diverse range of activities and services. It is part of the statewide Neighbourhood House network and is home to programs such as Kids House childcare, the Men’s Shed and Learn Local adult education. Wellington Shire Council partnered with the State Government to deliver the first phase of the Local Development Strategy and received a further $90,000 grant for the Heyfield Manufacturing Cluster masterplan from the Community Development Fund.
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Heyfield MASSLAM facility open day
Australian Sustainable Hardwoods, Australia’s largest hardwood manufacturer, is inviting architects, engineers, specifiers, and building developers to visit its MASSLAM facility at Heyfield in Victoria as part of a free open day. Source: Timberbiz This unique opportunity allows guests to witness the intricate process of MASSLAM production and receive first-hand lessons in cost efficiency, quality and build-ability. Attendees will be taken on a comprehensive tour of ASH’s production, machining and finishing sheds, providing a detailed understanding of how raw materials are transformed into sustainable, high-performance, building solutions. During the tour, there will be a chance to engage with the team of MASSLAM designers and engineers’ team who are at the forefront of mass timber technology. They will share their insights into the design, engineering, and application of MASSLAM in various construction applications. This interactive experience offers a rare glimpse into the technical and creative aspects of mass timber production, providing valuable knowledge to industry professionals not just looking to specify mass timber in their next project, but embed cost efficiency into design and installation. The MASSLAM Open Day will also provide an opportunity to network with other leading experts in the field. As Australia’s leading mass timber innovator and manufacturer, don’t miss this exclusive opportunity for unprecedented backstage access of mass timber production at ASH. Registrations are limited and close August 7, 2024. Wednesday August 14, 2024 ASH Manufacturing Facility Weir Road, Heyfield Register here.
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