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‘I received accolades’: I reported a toxic coworker who threatened me — and I was terminated after 7 years of stellar employment. What can I do?
Categories: Forest Products Industry
UPDATE 2-Novavax signs COVID-19 license deal with Sanofi, removes doubt about business viability
Categories: Forest Products Industry
Analysis-Dollar’s stubborn strength dents US companies’ earnings cheer
Categories: Forest Products Industry
Sony Plans Bid Versus Blackstone, KKR for $1.3 Billion Manga App
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SoftBank Sells Off Vision Fund Assets as Son Pivots to AI, Chips
Categories: Forest Products Industry
China's push for greener aluminium hit by erratic rains, power cuts
Categories: Forest Products Industry
Rare Barn X is new in the game
Commissioning a state-of-the-art new game development space in 2020, when the future of work seemed totally unpredictable, was a bold move. But it’s a move that’s paid off for the Xbox Game Studio, Rare. Source: Timberbiz Barn X, built on Rare’s existing Leicestershire, UK campus, exemplifies the leading edge of eco design. It has just been certified LEED GOLD, a world-recognised symbol in sustainable building. Above all else, the 1,200 metre-squared space has been designed to be inspiring, comfortable and adaptable for its team members, who have been settling into the building over the past year. “We asked ourselves, ‘What might the gaming studio of the future look like?’” explains Craig Duncan, studio head at Rare. The result is a close collaboration between Rare, the Microsoft real estate team, London architecture firm LOM and Dublin-based sustainability design advisors RKD. Starting with a blank slate, the team was able to create a forward-thinking building with sustainability at its heart. Barn X runs purely on electricity and is Xbox’s first mass timber building in Europe. The inner timber structure for Barn X was locally sourced, but the exterior cladding timber is New Zealand Accoya. While this comes with more airmiles, the Accoya will last for 60 years without the need for varnish or paint finishing coat. “Whereas if you source locally, a softer wood such as birch or larch, it will need a sealer because it’s a softer material,” Hogan, Director of Sustainability and Research at RKD said. “And It will probably need switching out within 15 years, too, potentially three times over the service life of the building.” Barn X features a range of sustainable solutions, most notably there are 750 square metres of solar panels in a nearby field, offsetting some of the studio’s energy consumption. The barn uses condensate water from chillers to help flush its toilets, saving on water usage and repurposing water which otherwise would have gone to waste. Its pitched roof also houses advanced cooling and ventilation services. The studio has also been designed to give the facilities team the data, functionality and capability it needs to continually optimise the barn’s energy usage. “It’s not a building that’s sitting still in terms of its energy performance,” says Hogan. “It has the ability to improve over time’.” The Rare campus is set in 100 acres of rolling Midlands countryside, near the village of Twycross. Its grounds are covered in swathes of wildflower meadow and there are even beehives, providing Rare-branded honey which staff can buy at reception. Barn X has been designed to bring the outside in, with plenty of foliage, vertical gardens and big windows to help employees enjoy all that inspiring nature. “We wanted to make sure you can see the outside from wherever you are in the building,” Mr Duncan said. “There are paths that weave outside the building and paths that take you out to the solar farm. All those things I think add to wellbeing.” There are also nods in its barn-style structure and timber-cladded frontage to the history of the campus and the heritage of the local area. Every element of the building aims to help foster creativity and collaboration. “Games design is that magical mix of technology, creativity, teamwork and artwork,” Mr Duncan said. “So, all of those things informed how we designed the space. We needed lots of room where teams can work together closely, but we also need quiet spaces and places with sound deadening. The building feels energising, creative and refreshing. It has a really nice vibe.” It was also a priority from the start to create a building that accommodates for neurodiversity as much as possible. All staff can adjust their desk lighting exactly as they like it, and there are spaces for them to find pockets of calm or privacy. The decor has been deliberately pitched to be calming, not overwhelming, but still to provide stimulation. Barn X embodies Microsoft’s wider commitment to being carbon negative, water positive and zero waste by 2030. “It’s something our team really cares about,” says Duncan. “It’s important for them to work in an environment that has sustainability at its core, and to know that they work for a company on a sustainability journey.”
Categories: Forest Products Industry
Cat track loader to clear, load, dig and fill
A track loader is the one machine that can do it all – clear, load, dig, carry, fill and more even in tough or slick ground conditions. The new Cat 973 Track Loader combines versatility with up to 10% better fuel efficiency, more productivity, cab improvements and optional Payload technology. Source: Timberbiz The 205 kW crawler loader has an operating weight of 29,892 kg and replaces the 973K worldwide. It joins the 953 (119 kW) and 963 (151 kW) in the Cat track loader line. The 973 is the largest track loader in the industry, but still offers agility and ease of operation. The updated cab features a suspension seat and adjustable armrests/controls. An intuitive 10-inch touchscreen dash display is easy to use and features a standard high-definition rear-view camera. Slope Indicate helps make operation easier by showing machine mainfall and cross slope right on the display. Select joystick or V-lever and pedal steering for transmission controls and either joystick or 2-lever implement controls. The joystick option provides familiar controls for operators experienced with skid steers/compact track loaders. With either control scheme, operators can set implement response – fine, normal, coarse – to match operator preference or application. Repetitive lift, lower, rack, dump and float functions can be preset to make jobs like truck loading easier. Smoother implement and steering response, and improved steering performance provide more controllability. The 973 is powered by a Cat C9.3B engine. Fuel consumption is reduced up to 10% with the Auto Mode that will adapt the engine speed to the load. Eco Mode will use even lower speed for further reduction in fuel consumption in lighter duty applications. Power Mode will keep engine speed high for a feel of readily available power at all times. An optional Performance Series bucket boosts productivity up to 20%. An optional Fusion Quick Coupler enables fast attachment changes. A variety of buckets, forks and other tools can be shared among track loaders, wheel loaders and other Fusion compatible machines. Cat Payload* technology delivers precise bucket load information with on-the-go weighing, which helps prevent over- or under-loading. More accurate loading reduces cycle times to help save time, labour and fuel costs.
Categories: Forest Products Industry
New Forests new MD for Africa
New Forests has appointed Yida Kemoli as managing director, Africa. Mr Kemoli will be responsible for driving the strategy for New Forests’ African business, fund raising for African forestry strategies, leading the team on the ground in Nairobi, and delivering investment returns and impact outcomes for clients. Source: Timberbiz He brings over two decades of experience leading, investing in, and growing businesses primarily in Eastern Africa across various sectors related to agriculture and nature-based solutions, as well as infrastructure and consumer industries. Mr Kemoli was previously a senior partner with Phatisa Group, a food and agriculture focused sub-Saharan African private equity fund management business, where he was responsible for origination and portfolio management in Eastern Africa, as well as being a member of the investment committee and portfolio company boards. Based in Nairobi, Kenya, Mr Kemoli will report to Mark Rogers, Chief Executive Officer of New Forests and sit on New Forests’ executive committee. Mark Rogers, Chief Executive Officer of New Forests said, “We are extremely excited to welcome Yida to the team. Africa represents a strategically important market for New Forests to continue to capitalise on the wealth of opportunities that exist across forestry in Sub-Saharan Africa. “We aim to deliver commercial returns for our investors, alongside managing conservation projects and making a substantial impact in the local communities where we invest. Yida’s knowledge, experience and long track record in the African investment and natural capital space will be fundamental in contributing to the success of the business.” New Forests has had a presence in Kenya since 2021. In 2022, along with investment partners British International Investment (BII), Norfund and Finnfund, New Forests launched its first African forestry strategy with four impact targets around climate change mitigation, biodiversity conservation, gender & diversity, and community & livelihoods.
Categories: Forest Products Industry
Downward trend in NZ workplace injuries for forestry
Safetree NZ has released the Health & Safety statistics dashboard for March 2024. WorkSafe provides statistics on forestry fatalities and workplace incidents. These investigations help inform of any key issues or trends as they come to light. Source: Timberbiz Overall, there is a downward trend in workplace injuries and fatalities in forestry. While injuries are evenly spread across silviculture, harvesting and unloading/loading log activities, the majority of injuries requiring time off work is in silviculture. Injuries and fatality rates are also higher in forestry than industry averages across New Zealand. For more information visit: https://www.safetree.nz/statistics The statistics dashboard can be downloaded here.
Categories: Forest Products Industry
Forestry Corp avoids criminal trial
State-owned Forestry Corporation has admitted destroying precious hollow-bearing NSW habitat trees in an eleventh-hour move that avoids a criminal trial. Sources: Australian Associated Press, The Canberra Times The trial was due to start this week in the Land and Environment Court and public interest advocate John Corkill was seeking special permission to be heard. But the trial won’t proceed after the NSW corporation pleaded guilty to three charges on Monday – almost four years after the damage was done. The charges relate to the illegal destruction of three hollow-bearing trees in the Wild Cattle Creek State Forest, west of Coffs Harbour, in July 2020. The forest is home to a host of native species including endangered koalas, greater gliders, owls and other native animals that depend on hollow trees, which can take 100 years or more to form. The guilty pleas add to Forestry Corporation’s previous admissions, made a year and half ago, that it illegally destroyed six giant trees in the same forest about the same time. Under the forestry laws all giant trees measuring more than 1.4 metres across must not be destroyed. The corporation will be sentenced on all of the charges in September and Dr Corkill an environmentalist and legal scholar still hopes to be heard under a rarely used legal provision. He wants the court to accept him as an amicus curiae – a person who seeks to assist the court while not being a party to proceedings. If he wins the right to appear, as a delegate of the Bellingen Environment Centre, he will urge the court to scrutinise the conduct of the Environment Protection Authority. He says the watchdog has brought proceedings against Forestry Corporation 13 times since 1997 but hasn’t gone after the individuals or contractors that did the illegal clearing, despite having the power to do so. An amicus curiae can suggest questions for the court to ask and Dr Corkill hopes Justice Nicola Pain will grill the EPA about why it’s only done half the job. “We can look in the court file and see that EPA prosecutes persons and private companies in every other industrial setting,” he said. “But they’ve never prosecuted a person or a private logging contractor that does work for the Forestry Corporation. Why is that?” Dr Corkill says he’s been advised the EPA does not support his bid to be heard. The EPA says it decides on prosecution based on evidence and culpability in line with its regulatory policy and prosecution guidelines. “In this case, the EPA decided to prosecute FCNSW as the appropriate defendant.” Forestry Corporation has told AAP it regrets the destruction of hollow-bearing trees. It said all hollow-bearing trees were required to be retained and 411 were “but three trees were subsequently found to have hollows at the base, which had been obscured by extremely dense understorey”. It said the giant trees were destroyed in an operation during a transition period from one set of regulations to another.
Categories: Forest Products Industry
ETS compliant carbon projects carry risks
Forestry carbon investments have developed to become an important facet of the forestry landscape in New Zealand as investors have sought to jump on the bandwagon to decarbonise. For many investors it is an economic play where they are seeking to make economic profits as well as potentially offsetting carbon liabilities elsewhere. Source: Timberbiz New Zealand has one of the few existing formal emissions trading schemes (ETS) with a significant history beginning in 2008. The ETS has three pathways for earning New Zealand emission units (NZUs), the permanent forest category, and two commercial forest schemes – the original stock change approach (legacy approach) and the recently introduced averaging approach. This latter approach implemented from 1 January 2023 will apply to all new entrants to the ETS from this date. The averaging approach was seemingly introduced to reduce liability risk for investors and encourage growth in carbon investments, growth which at the time of original development of the approach, had stalled. Investment in ETS compliant carbon projects carries risks for investors which differ from pure commercial forestry risks: Carbon price risk – emission units are earned early and potentially sold early in the investments life whereas liabilities to repay credits under the stock change approach are generally at the end of the rotation, Liability risk – under the stock change approach, investors are liable to repay any earned credits where the forest is damaged or destroyed by biotic and abiotic agencies, Regulatory and legal risk – these risks include changes in government policy, and introduction/changes to cost recoveries, Carbon release – no benefit is recognised for the long-lived nature of wood products post-harvest, Once only earning of credits – under the averaging approach, the risk of repayment being required is mitigated but benefits only accrue up to the averaging age of the first rotation. No credits are earned in future rotations, Risk reduction strategies – the inherent risks of carbon investment under stock change (particularly price risk) are somewhat reduced by trading only safe carbon at the cost of overall economic return. Given these risks, how do investors think about the discount rate for carbon investments? This has been particularly unclear causing significant difficulties when it comes time to value the carbon for financial reporting, transaction analysis and investment strategizing. Margules Groome has noted a wide range of discount rates being employed by forest appraisers usually without adequate corroborating evidence. These can range from low rates similar to market discount rates for timberland investments to relatively high rates reflecting a perception by some investors of higher regulatory and price risks. Given this situation, Margules Groome has looked to market evidence. As transaction evidence for existing carbon forests is particularly scant and incomplete, we have therefore turned to market evidence for ETS compliant land acquired for carbon forestry. There is significant transaction evidence for post-1989 land which is ETS compliant and pre-1990 land with no carbon potential. This does cause a dilemma however as there are two unknowns, discount rate and future carbon price. By developing carbon forestry models for the different approaches available under the ETS and considering independent market forecasts for NZUs, Margules Groome has developed relationships for each of the approaches comparing imputed discount rates with future carbon price assumptions. The results of this exercise have been enlightening, showing distinct differences between carbon discount rates for commercial forestry with carbon (stock change and averaging) and for permanent carbon forestry. Commercial forestry with carbon appears to be perceived as a higher risk investment. Parties that are interested in understanding carbon discount rates and how the work we have undertaken can benefit their situation, should contact Margules Groome.
Categories: Forest Products Industry
Limestone Coast wood fibre export inquiry given another extension
The all-party South Australian parliamentary select committee which is inquiring into the exporting of wood fibre and other Limestone Coast timber matters has been granted yet another extension to its deadline. Source: The SE Voice The Legislative Council subcommittee was due to report last November. However, it was granted an extension until 1 May. When the Legislative Council met this month, it agreed to a request for extra time from Upper House Opposition Leader Dr Nicola Centofanti. The revised deadline is now 24 November. Several other select committees were also granted extra time.
Categories: Forest Products Industry
Hyne, XLam, Forestry Corp NSW and Responsible Wood out in the field
In a ground-breaking collaboration, the Materials & Embodied Carbon Leaders’ Alliance (MECLA), Hyne Timber, XLam, Forestry Corporation of NSW, and Responsible Wood joined forces to organise a transformative field trip focusing on certified sustainable forest management and ethical supply chains. Source: Timberbiz The event, held across New South Wales and Victoria, provided attendees with invaluable insights into the intricate processes behind responsible forestry practices. “Events like these are crucial for fostering a deeper understanding of sustainable forestry practices,” sustainability manager at Responsible Wood Matt de Jongh said. “By witnessing firsthand, the efforts put into maintaining our forests, participants gain a renewed appreciation for the importance of ethical and responsible supply chains.” The field trip offered participants a multifaceted experience, where attendees had the opportunity to witness sustainable forestry practices in action, gaining insights into forest regeneration, biodiversity conservation, and responsible harvesting techniques. “For over 140 years, Hyne Timber has prioritised delivering industry-leading products while ensuring the preservation of our natural resources,” Katie Fowden, general manager of Stakeholder Engagement at Hyne Timber said. “This field trip underscores our dedication to promoting sustainable forestry and driving positive environmental impact.” Alexi Barnstone, project manager at MECLA, echoed similar sentiments. “MECLA is dedicated to reducing embodied carbon in the construction industry. Collaborating with key stakeholders in initiatives like this field trip allows us to align our efforts with the Paris Agreement targets and advance the principles of the circular economy,” he said. The field trip offered participants a multifaceted experience, where attendees had the opportunity to witness sustainable forestry practices in action, gaining insights into forest regeneration, biodiversity conservation, and responsible harvesting techniques. One of the highlights of the trip was a visit to a certified sustainable pine plantation managed by Forestry Corporation of NSW. Participants observed firsthand the meticulous planning and execution involved in maintaining a renewable plantation to ensure a sustainable supply of timber. Additionally, demonstrations and presentations from industry leaders such as Hyne Timber and XLam showcased innovative solutions for sustainable construction. Hyne Timber and XLam’s expertise in engineered timber for mass timber construction exemplified how advanced technologies can enhance sustainability, increase construction efficiency, and improve overall project outcomes. Overall, the field trip served as a catalyst for promoting awareness and collaboration within the construction industry. By bringing together key stakeholders, it facilitated meaningful discussions and laid the groundwork for future initiatives aimed at advancing sustainability practices. “This field trip is just the beginning. By continuing to work together and championing sustainable forestry practices, we can pave the way for a greener, more environmentally conscious future,” Mr de Jongh said.
Categories: Forest Products Industry
Opinion: RB McCarthy – Marcus Bastiaan’s many incorrect statements
In reference to your opinion piece of the 3rd of May 2024 – Opinion: Marcus Bastiaan – VicForests hung themselves and the industry out to dry, would you please correct the many incorrect assertions. VicForests was not responsible for the current situation facing the management and regeneration of Victoria’s native forest estate. Of the native forest estate, only 6% of Victoria’s public forests and woodlands were being managed for long term wood supply on a sustainable cycle of harvest and regrowth. The demise of VicForests was due to the combined impacts of judicial activism, environmental protests, green lawfare, and an abject failure of the Victorian Labor Government to support the Victorian world class and environmentally sustainable native hardwood timber industry. Victorian forestry with its multiple layers of forest certification processes has been dealt a death knoll. This has resulted in the current Victorian labour government announcement that all native forest harvesting ceased on the1st of January 2024 and that VicForests will cease to exist by the 30th of June 2024. A summary of the past government agencies managing the Victorian Forest Estate is described in the following: Between 1918 and 1983, the Forest Commission of Victoria (VFC) as a statutory authority efficiently managed and protected the Victorian Forest Estate. In 1983, the Cain labour government merged VFC with the newly formed mega department of Conservation, Forests and Lands. (CFL). Successive governments amended these cumbersome arrangements. By 1992, the Kennett liberal government added VicForests under the State-Owned Enterprise Act. In 2003, VicForests became a state business corporation and in 2023, a reorganised body. The author, Mr Marcus Bastiaan, has made many incorrect statements during VicForests time of managing the Victorian forest estate. These assertions have been addressed. They are well documented. Mr Bastiaan has suggested that an accreditation body such as the Forest Stewardship Council (FSC) be engaged to manage the Victoria Forest Estate. It has no management expertise. VicForests management follows the guidelines established by the global accreditation body PEFC with checks by JASANZ. The impact on the closure of the Australian native forest industry is that hardwood timber supplies are vastly impacted due to the Australian Labour governments wishing to build more social housing. The only depository of hardwood supplies uncommitted somewhat is tropical countries. This creates enormous market distortion globally because there are no initiatives to replace those tropical hardwood resources as in Australia. The issue facing Speciality Doors is a lack of future resource allocation. It is an open and shut door issue. All Victorians would share the frustrations exhibited by Speciality Doors and its director Mr Marcus Bastiaan in the uncertainty re future forest resources. However, mistruths and false assertions expressed in the opinion piece by Mr Bastiaan will not resolve the issues faced by future management of Victorian forests and its forest industry. The dilemma in Victoria again demonstrates that the forest industry is on the “user end” of government decisions and actions regarding a stable investment climate, resource security and consistent administration of rules and regulations especially relating to forest revenue systems in the context of fiscal stability. It is hoped that somehow endeavours are undertaken to ensure the native forest estate can meet future demand for native forest products investors by allowing “economic sustainability” of any long-term timber harvesting entity which is being managed under active sustainable forest management principles. R B McCarthy BSc (Forestry), M Sc (Foresty Man) Member, Forestry Australia.
Categories: Forest Products Industry
Opinion: Peter Rutherford – Mr Bastiaan doesn’t know forestry or the ALP
I am writing to make some comment on the opinion piece published in the Daily Timber News on 5 May 2024. After reading the first two paragraphs, I thought I was reading an opinion piece from one of The Age newspaper’s “environmental” reporters, so stopped reading and closed the article and deleted the DTN email. After receiving calls and emails over the weekend from SETA members and others, I forced myself to pull the email out of the trash and read the rest of the article. The first question that occurred to me was, who is Mr Bastiaan? Having had some connection with the native forest industry over several decades, including four years as general manager of Forestry Victoria, the predecessor of VicForests, his name drew a blank. I could not remember Mr Bastiaan pushing back against any of the activist and ALP political bastardry, that has affected the industry since former ALP senator Graeme Richardson used the workers and timber communities of East Gippsland to progress ALP political interests. Unlike Mr Bastiaan, I have an understanding of how the Labour Environment Action Network, headed by a former Wilderness Society employee has used the ALP to implement Wilderness Society policy of a total closure of the native forest industries in WA and Victoria, with more to come. In 2002, the Steve Bracks and Sherryl Garbutt inspired Our Forest No Future policy, cast the die to close the native forest industry in western Victoria. It was left to the debt-ridden Andrews’ Labor government to kill off the industry. You don’t have to be a cynic to know that a Green-Labor government was more than happy to make the industry vanish. After more than 20 years of multimillion activist charity campaigns targeting the native forest industry there was lots of anti-forest political milage in ill-informed city electorates. The ALP was happy use this tool to destroy the industry and help stem the flow of ALP left voters to the greens, in four critical and once safe Labor seats in inner city Melbourne. With a tape measure regulatory system misused by activists and their media supporters and a political party with no desire to rectify the flaws in the system, the government deliberately left VicForests to fail. If I was working for VicForests, I would find Mr Bastiaan’s opinion to be insensitive and insulting. When a minister is prepared to stop VicForests collecting a $1.2 million debt for a failed activist lawsuit, it gives a glimpse into the political bastardy that has impacted VicForests and staff for more than a decade. This debt has ballooned to more than $2 million over time. One of the reasons why the native forest industry has been subject to so much political destruction is that too many participants in the value chain have stayed silent while forests managers, harvest contractors and primary processors have copped the brunt of nonviolent direct-action protests. https://www.youtube.com/watch?v=goxsLw443dw Anyone who has even a passing understanding of the industry would know that the no Labor government will ever go back to the drawing board. The wilderness mentality, which is silently undermining the reserve system, is about to be inflicted on hundreds of thousands of hectares of state forests. After a sham consultation process the Great Big National Park will be announced before the next election. Mr Bastiaan’s suggestion of a forest management framework under FSC also shows a lack of understanding. The FSC has been used in Australia, to a greater or lesser extent, as part of the lock up native forests campaign. While forcing myself to read Mr Bastiaan’s opinion, I was reminded of a saying about those that come in after the battle is over to bayonet the wounded. Aside from political bastardry, the biggest threat to the native forests in Victoria is high intensity bushfires. Given the pending closure of VicForests, a significant hole will be left in the firefighting ranks. Given the views Mr Bastiaan has expressed about VicForests, I am sure VicForests staff will be happy to not have to risk life and limb in future fire seasons. Mr Bastiaan, if you haven’t already done so, please join the Country Fire Authority, train up over winter and see how much of a difference you can make to filling the gap. Peter Rutherford is secretary South East Timber Association
Categories: Forest Products Industry
Medical Properties Trust (MPW) Q1 2024 Earnings Call Transcript
Categories: Forest Products Industry
Warren Buffett said he could make a 50% return on $1 million and predicted higher taxes. Here are 14 Q&A nuggets.
Categories: Forest Products Industry
AI Chipmaker DeepX’s Valuation Vaults Up in SkyLake-Led Funding
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