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1 Major Difference Between 401(k)s and IRAs That You Should Know, Before You Save Any More for Retirement
Categories: Forest Products Industry
Meet the 2 Stocks Warren Buffett Confessed to Selling, as Well as the Other Core Holding He Likely Sent to the Chopping Block
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2 Red-Hot Artificial Intelligence (AI) Stocks to Buy Before They Soar 81% and 83%, According to Certain Wall Street Analysts
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These 3 stocks are poised to benefit from the massive energy transition
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Here's Exactly When Social Security Recipients Can Expect Benefit Cuts, According to the Latest Trustees Report
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Siemens Energy Lifts Guidance After Swing to Profit; Advances Wind Unit Restructuring
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Stocks and bonds wobble as global economy throws off mixed signals
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This Magnificent Artificial Intelligence (AI) Stock Is Now in the $2 Trillion Club
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Stocks are primed to tumble into a bear market as bullish investors have driven equities to 1929 extremes, famed fund manager says
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Scientific review shows schemes have failed to protect trees
Market-based approaches to forest conservation like carbon offsets and deforestation-free certification schemes have largely failed to protect trees or alleviate poverty, according to a major scientific review published on Monday. Source: Science X The global study, the most comprehensive of its kind to date, found that trade and finance-driven initiatives had made “limited” progress halting deforestation and in some cases worsened economic inequality, according to an AFP report published by Science X. Drawn from years of academic and field work, the report compiled by the International Union of Forest Research Organizations (IUFRO), a group of 15,000 scientists in 120 countries, will be presented at a high-level UN forum starting Monday. Its authors urged a “radical rethink” of increasingly popular market-based approaches often promoted as effective at saving forests, curbing global warming and raising living standards in developing nations. “The evidence does not support the claim of win-wins or triple wins for environment, economy and people often made for market mechanisms as a policy response to environmental problems,” said contributing author Maria Brockhaus from the University of Helsinki told AFP. “Rather our cases show that poverty and forest loss both are persistent across different regions of the world… where market mechanisms have been the main policy option for decades,” she told AFP by email. Since the last IUFRO assessment in 2010, the report noted a rise in complex and overlapping market-based schemes “with financial actors and shareholders more often interested in short-term profits than long-term just and sustainable forest governance”. Its lead author, Constance McDermott from the University of Oxford, said this may not be true of all individual projects “but overall… it’s hard to say they’ve been a rousing success”. The report said a US$120 million project in the Democratic Republic of Congo had “reinforced entrenched interests” by restricting local people from forests without addressing logging by powerful extractive businesses. In Malaysia, indigenous groups promised better livelihoods from a foreign-backed plantation venture on their customary land received no benefit, the report said. “As both cases show, ‘wins’ are often gained elsewhere, while the burdens of forest loss, enclosures and forestland conversion are carried locally,” Brockhaus told AFP. In Ghana, deforestation rates had risen despite a slew of sustainable cocoa standards, corporate pledges, and carbon offset projects, while farmers were earning less today than decades ago, said McDermott. More on the report here.
Categories: Forest Products Industry
Vietnam seeks to go green to increase exports
General Secretary of Việt Nam Timber and Forest Products Association (Viforest) Ngô Sỹ Hoài said that the wood industry needs to pay attention to green production and trade to increase exports. Source: Việt Nam News According to Hoài currently, many major markets are strengthening the enforcement of import regulations as well as important technical barriers for products from exporting countries. For example, EU countries have requested exporters to meet regulations at the Carbon Border Adjustment Mechanism (CBAM). Goods imported into the EU will be imposed with a carbon tax and businesses must convert to lower-emission production models to get carbon credits. Viforest is encouraging businesses to ensure green production, green trade and digital transformation. Sustainable development will be key to increase orders and revenue from export activities. The association has been conducting many trade promotion activities at home and abroad to seek more customers and orders. The EU Deforestation Regulation (EUDR) is coming into effect soon, so the association is also planning to organise training courses on implementing accountability, ensuring legal timber could join in supply chains and green transition. Hoài also said that in the first three months of this year, the export of timber and wood products reached US$3.5 billion, an increase of 25.4% over the same period in 2023. Of which, the export turnover of wood products was US$2.4 billion, an increase of 30.8%. The main markets were still the US, China, Japan, South Korea and the EU. At the same time, businesses spent US$535.7 million to import wood materials, an increase of 15.3% over the same period in 2023. The industry saw positive business results in the first three months of the year, but it cannot be confirmed the market to recover well. This year is still a very difficult year for the wood processing businesses, according to Hoài. Meanwhile, large markets, such as the US, EU, China, Japan, and South Korea, are still heavily affected by issues related to geopolitical conflicts, economic recession, and consumers losing confidence. The US market has accounted for 50-55% of Việt Nam’s total export value of wooden furniture. However, the frequency of lawsuits and investigations relating to trade defence measures on wood products of Vietnamese origin is increasing, so Vietnamese wood processing businesses face many risks. On the domestic market, many firms still have difficulty in getting value-added tax (VAT) refunded and complying with new fire prevention and firefighting standards. Many factories built 20 to 30 years ago are now located in densely populated areas. Some localities have policies on moving wood processing facilities away from residential areas, so the businesses cannot invest large sums of money in fire prevention. In that situation, the business environment needed to be reformed to encourage the businesses to develop production and business, Hoài said. The enterprises themselves also needed to improve their management capacity and strengthen their ability to comply with regulations related to forests and wood in Việt Nam and foreign markets. In addition, they needed to improve their ability to cope with the trade defence measures in large markets. The businesses also expected value-added tax refunds to be implemented faster, and the state agencies to have feasible solutions for them in complying with fire prevention regulations. According to the Prime Minister’s direction, the preferential credit package for the wood and seafood industry of VNĐ15 trillion has been increased to VNĐ30 trillion. Viforest hopes banks will support the businesses by having simpler and more flexible procedures so that wood and seafood businesses can effectively and promptly access this capital source. Việt Nam aims to gain a value of US$15 billion from exporting timber and wood products this year.
Categories: Forest Products Industry
UN Forum on Forests focus on global forest goals
The 19th session of the UN Forum on Forests (UNFF19) opened on Monday with focus on achieving Global Forest Goals and increasing progress towards sustainable development by 2030. Source: Timberbiz The UNFF serves as a body under the UN Economic and Social Council (ECOSOC) and aims to support the goals of the International Arrangement on Forests (IAF) and to advance other international forest-related instruments, processes, commitments, and goals. At the forum’s opening ceremony, Juliette Biao, Director of the UNFF Secretariat, said the world currently faces numerous natural disasters, worsening climate change as well as conflict, growing poverty and unemployment, among other crises. She said making a difference amidst these global challenges can be achieved by meeting Global Forests Goals (GFG) by 2030, however, they remain off-track. To get back on target, Ms Biao said countries need to “bolster political commitment and partnerships” in support of the GFGs. “We want a world where all types of forests are sustainably managed. A world where healthy forests are recognized as powerful nature-based solutions to most of the sustainable development challenges we face today,” she said. Peter Gondo, Inter-Regional Adviser of the UN’s Department of Economic and Social Affairs (DESA), said that this year’s session, running through 10 May, will include a High-Level Segment and a review of the IAF in hopes of “assessing progress and identifying gaps” in achieving the Sustainable Development Goals (SDGs) by the 2030 deadline. “The key outcomes will be a High-Level Segment declaration and an omnibus resolution, which will include the outcome of the midterm review and the Quadrennial Programme of Work of the Forum for 2025-2028,” Mr. Gondo said. UNFF19 precedes the fourth session of the Small Island Developing States Conference (SIDS4) occurring from 27 to 30 May in Antigua and Barbuda. Each SIDS conference focuses on assessing the ability of sustainable development in small islands. Mr Gondo said forests and trees are important for SIDS’ well-being. He said that forests “…play a critical role in the availability and quantity of freshwater, in coastal protection (from waves caused by extreme weather such as hurricanes), in the conservation of biological diversity, in particular endemic species and genetic variability, and economic development through trade in wood and non-wood forest products. The Inter-Regional Adviser said that a DESA-managed financing network – the Global Forest Financing Facilitation Network (GFFFN) – has supported many SIDS with sustainable forest management (SFM) which he said, is an “integral part of the 2030 Agenda, which recognizes forests are critical for life on land.” “This has included support in designing national forest programmes and national forest financing strategies aligned to national sustainable development frameworks, as well as strengthening the capacity of national experts in accessing forest financing from multi-lateral and other sources,” Mr. Gondo said. Some SIDS supported thus far include Jamaica, Fiji, Papua New Guinea, Guinea Bissau, Dominica, St Kitts and Nevis. The UN climate secretariat, UNFCCC, has considered climate change, pollution and biodiversity loss as the triple planetary crisis facing humanity today. Mr Gondo said forests play a “pivotal role” in addressing this crisis since a healthy well-managed forest helps to regulate climate, clean the air and provide livelihood and food security. He said investments in forest-based solutions can offer “a cost-effective way to generate multiple biodiversity and social benefits.”
Categories: Forest Products Industry
NZ’s Tree of the Year
Six nominees for this year’s New Zealand Tree of the Year competition have been revealed, with organisers saying the story behind the trees is often as important as the vegetation itself. Source: RNZ The competition, now in its third year, is not about celebrating a species, just “one very special tree”. This year’s list includes the Walking Tree on the West Coast and Moko in Otari Wilton’s Bush, Wellington, with “Freddie’s Pōhutukawa” in Gisborne, which took the title last year – again on the list. New Zealand Arboricultural Association president Richie Hill told RNZ Nights the competition celebrates the trees that play an important part in our lives, our history and our future. “It’s about connecting people with trees. “Trees are great bridge builders, we don’t talk about them enough, and we’re getting less of them, not more, especially in places that matter. “If we don’t appreciate them and acknowledge them, then we’re not going to recognise their significance.” He said the competition was about the stories around the trees and their connection to a place, and these were living remnants of that. “There are six amazing stories here.” The competition was inspired by the ‘European tree of the year’ which has been running since 2011. Voting closes at midnight on 31 May, with winners announced on 5 June (Arbor Day). Vote in the 2024 Tree of the Year competition at https://www.treeoftheyear.co.nz/
Categories: Forest Products Industry
Forest companies come to the aid of Rosewood primary school for safety
In the heart of the community of Rosewood lies Rosewood State School, a place that has not only nurtured young minds but has also fostered a deep connection within the forest industry. Source: Tumbarumba Times Over the years, Rosewood School has been a proud producer of individuals who have contributed significantly to the forest and forest products industry, with over 80 alumni finding their calling in this field. Recently, the school recognised an issue that was affecting the safety and well-being of its students. Next to the school grounds stood a plantation that, while once a source of pride, had become a cause for concern. The area had become unsafe for the children to play in, posing both physical risks and the threat of a potential fire hazard. In a remarkable display of community spirit and collaboration, several key stakeholders came together to address this issue. Hyne, Bergins, Visy, and Southern Cross Forests, leading companies in the forest and forest products industry, combined their efforts to remove the timber from the plantation. Additionally, a local contractor, Lehmans, volunteered their services to clean up the site, ensuring that it would be safe and accessible for the children of Rosewood School. But the story doesn’t end there. In a delightful turn of events, plans are underway to transform the cleared area into a space where the children can not only play safely but also learn and connect with nature. The school intends to introduce school animals to the site, creating an immersive and educational experience for the students. Furthermore, the community’s generosity knows no bounds, with funds being raised to support Rosewood School in this endeavour. Every individual and organisation involved has played their part, demonstrating a collective commitment to the well-being and enrichment of our community’s youngest members. This story encapsulates the essence of community spirit, collaboration, and the unwavering dedication to the betterment of our society. It is a narrative that deserves to be shared and celebrated, inspiring others to come together and make a positive difference in their own communities.
Categories: Forest Products Industry
Australia and New Zealand’s CLT market
The Australia and New Zealand cross laminated timber (CLT) market size reached US$105.7 million in 2023. Looking forward, the market is projected to reach US$526.9 million by 2032, exhibiting a growth rate of 19.54% during 2023-2032. Sources: Timberbiz, Research & Markets Cross-laminated timber (CLT) is a prefabricated and solid engineered wood panel comprising several layers of kiln-dried lumber boards, which are stacked in alternating directions, pressed to form solid, straight, rectangular panels, and bonded with structural adhesives. It is lightweight and strong with superior acoustic, fire, seismic, and thermal performance. Apart from this, it offers several advantages, such as aesthetic appeal, easy installation, and low greenhouse gas emissions. As a result, CLT is replacing traditional construction materials, such as steel, concrete, and cement. At present, there is a rise in the demand for CLT in both the residential and commercial sectors across Australia and New Zealand as it provides dry and fast onsite construction and the potential for airtightness with robust wall and floor structures. The growing environmental concerns among the masses about rising greenhouse gas emissions represent one of the key factors driving the market in Australia and New Zealand. Moreover, there is an increase in the number of green building projects to enhance the efficiency of buildings while reducing their impact on the health of individuals and the environment through better design, construction, operation, and maintenance. This, along with the increasing initiatives by the central and state governments of Australia and New Zealand to promote the utilization of wood-based construction materials, is propelling the growth of the market. In addition, builders in the region are focusing on improving construction practices by relying on innovative construction materials and techniques, which is positively influencing the market. Besides this, the escalating demand for CLT in enhancing indoor environment quality and keeping the surroundings clean by generating zero waste during production is offering lucrative growth opportunities to industry investors. Apart from this, CLT is affordable and requires considerably less time in the construction of different structures compared with conventional construction materials. These product advantages are bolstering the growth of the market in the region. A report by Research & Markets provides an analysis of the key trends in each sub-segment of the Australia and New Zealand cross laminated timber (CLT) market report, along with forecasts for the period 2024-2032. The report has categorized the market based on application. Breakup by Application: Detached Houses Residential Non-Residential Units Non-residential units dominate the market due to the rising preference for sustainable building materials in the country. New Zealand Cross Laminated Timber Industry Breakup by Application: Residential Commercial Residential units exhibit a clear dominance in the New Zealand market as CLT provides efficient seismic performance in the multi-storey timber buildings. The competitive landscape of the market has been analysed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Stora Enso Oyj, KLH Massivholz GmbH, Binderholz GmbH, and XLam Australia Pty Ltd. More information here.
Categories: Forest Products Industry
Forestry Australia symposium’s healthy and resilient forests
This year’s Forestry Australia Symposium will be held from Tuesday 29 to Thursday 31 October 2024, in Ballarat, Victoria. The Symposium is known as the premier Australian meeting for forest scientists, foresters and forest growers. Source: Timberbiz The 2024 Symposium theme ‘Healthy and resilient forests for our future,’ will explore the concepts that underpin the science and best practice of sustaining and promoting the stewardship of healthy forests across all land tenures and forest types, including: Evidence-based best practice to support and maintain healthy forests Traditional Owner perspectives on caring for Country Mitigation of threats to forest health and resilience Effective forest recovery and restoration following major disturbances Achieving healthy forests on farms, and Critical linkages between forests and human wellbeing and creativity Regardless of land tenure and ownership, healthy and resilient forests should be the primary objective for all forest and land managers. Through active and adaptive management, healthy forests can deliver a range of environmental, social, cultural, and economic benefits – and they are much more likely to withstand future shocks and stresses, such as those generated by bushfires, invasive species and those anticipated with climate change. The 2024 Symposium theme ‘Healthy and resilient forests for our future,’ will explore the concepts that underpin the science and best practice of sustaining and promoting the stewardship of healthy forests across all land tenures and forest types, including: Evidence-based best practice to support and maintain healthy forests Traditional Owner perspectives on caring for Country Mitigation of threats to forest health and resilience Effective forest recovery and restoration following major disturbances Achieving healthy forests on farms, and Critical linkages between forests and human wellbeing and creativity The following speakers will be joining the Symposium in either plenary, concurrent or panel presentations. Dr Patrick Baker, University of Melbourne Prof Sue Baker, University of Tasmania Dr Tim Brodribb, University of Tasmania Yvette Eglington, University of Melbourne Dr Tom Fairman, University of Melbourne Dr Paul Foreman, Blue Devil Consulting Dr Rachelle Meyer, Trees on Farms Project Tim McBride, HVP Krista Patterson-Majoor, Cassinia Environmental Angeline Pool, Wadawurrung Corporation Dr Elizabeth Pryde, Greening Australia Rowan Reid, Bambra Agroforestry Farm Mike Ryan, VicForests Prof Jacki Schirmer, University of Canberra Climate Change Adaptation and Resilience Research Network Mick Stephens, Timber Queensland Myall Tarran, SA Department of Primary Industries and Regions Rob Waterworth, Mullion Group Prof Kath Williams, University of Melbourne Fabiano Ximenes, NSW Department of Primary Industries More speakers will be announced, along with a preliminary program. For more information: https://www.forestryconference.com.au
Categories: Forest Products Industry
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