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Why Realty Income Stock Significantly Underperformed the S&P 500 in 2024
Categories: Forest Products Industry
Germany's economy shrank for the second consecutive year in 2024
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A 2025 tax debate starts with a focus on a subject of bipartisan agreement: The child tax credit
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Smarter finance, smoother journeys: the digital evolution of motor lending
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Stock market today: Wall Street rips higher after inflation data and strong bank profits
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Huang Bump Seen Fading for Nvidia-Linked Stocks Riding AI Rally
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Dollar ends session weaker as inflation eases; yen firms on BOJ talk
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Metsa to host 40 forest days in Finland
Metsä Group and 4H in Finland have signed a new cooperation agreement for the period 2025-2026, with the aim of improving young people’s knowledge of forests and strengthening the relationship with forests. Source: Timberbiz A key part of the cooperation will be Metsä Group Forest Days for secondary school students, where forest use themes and contents will be examined from ecological, economic, social and cultural perspectives. The Forest Days are organised in cooperation with schools, either in the school’s local forests or on commercial forest sites throughout Finland. “In cooperation with Metsä Group, we are taking thousands of secondary school students into the forest to learn about Finnish forests and forest use. The Forest Days will introduce them to tree growth, the carbon cycle, climate issues and the life cycle of wood products. In the spring we plant tree saplings and in the autumn we get behind the wheel of a forestry machine,” said Sampo Juhajoki, manager in 4H. “The lessons learned at Forest Day complement what we learnt at school and support the development of young people’s relationship with the forest.” National Metsä Group Forest Days have been organised since 2021, and the aim is to organise 40 Forest Days for 2,500 young people annually in various parts of Finland. “It is important for Metsä Group that young people understand the importance of forests and see how sustainable forest use promotes well-being, combats climate change, safeguards biodiversity and prevents deforestation. “At the same time, we want to raise young people’s awareness of the economic importance of the forest sector both locally and globally. Cooperation with the 4H League provides an excellent opportunity to concretise these important themes,” said Katariina Saelan, SVP communications.
Categories: Forest Products Industry
Pulp and paper gaining footholds in every industry
The pulp and paper industry is at the forefront of sustainability efforts, playing a crucial role in the transition towards a circular economy. As environmental concerns continue to rise, the industry is innovating to reduce waste and enhance recyclability, ensuring that resources are used efficiently and responsibly. Source: Timberbiz ResourceWise has highlighted the latest developments announced over the past month, showcasing significant strides made by companies and organizations in their commitment to sustainable practices and eco-friendly solutions. Toy Manufacturer Lego Starts Using Paper-Based Bags Lego, the toy manufacturer, is switching to paper-based bags for its sets, aligning with its dedication to sustainable packaging. This change aims to eliminate single-use plastics. Lego’s factories have begun producing the new packaging. Sets in Europe and Asia already feature paper-based bags, with plans to extend the rollout to the Americas. These bags are sturdy, easy to fold, and confirmed recyclable in the European Union, the US, and Canada. Minnesota packaging changes The Minnesota Pollution Control Agency (MPCA), together with local officials and business leaders, is exploring methods to eliminate packaging in Minnesota that is not refillable, reusable, recyclable, or compostable by 2032. In 2024, Minnesota became the fifth state in the nation to enact the Packaging Waste and Cost Reduction Act. This legislation includes an Extended Producer Responsibility policy that encourages sustainable practices and holds manufacturers accountable for the materials they produce. The new law covers most packaging and paper products sold, offered for sale, distributed, or used to ship products within or into Minnesota, including online purchases and shipments. Exceptions are made for packaging related to infant formula, drugs or medical devices, and certain hazardous products. Stora Enso Develops Sustainable Packaging for Wilfa’s ProBaker Product Stora Enso has created protective inserts for Wilfa’s ProBaker kitchen mixer by combining Papira and corrugated board. Papira is a biobased, biodegradable foam derived from wood fibers harvested from sustainably managed forests. The redesigned packaging for the ProBaker cuts foam usage by 50% and reduces the overall box volume by 11%. Climate-Focused Frontier Coalition to Buy US$80 Million of Carbon Credits Google, H&M, Stripe, and other members of the climate-focused Frontier coalition are set to purchase US$80 million worth of carbon credits. These credits will be sourced from a company employing oil industry technology to capture emissions from paper mills and another firm using rocks to capture emissions at sewage plants. Frontier reports that buyers have committed to paying US$48 million, or US$214 per ton, for credits covering 224,500 tons of emissions from 2028 to 2030, developed by CO280. Additionally, US$32.1 million, or US$447 per ton, will be spent on 71,878 tons from startup CREW. CO280 utilizes carbon capture and storage (CCS) technology from oil field services company SLB, applied to the smokestack of a paper mill, capturing carbon initially absorbed by the trees used in paper production. Smurfit Westrock Provides Recyclable Packaging to Mindful Chef Smurfit Westrock has delivered fully recyclable packaging to Mindful Chef, reducing waste and ensuring complete traceability throughout the process. To ensure their fresh produce and ingredients arrived in optimal condition, the packaging’s durability was thoroughly tested in various ways. The Smurfit Westrock team adjusted the box sizes to maximize the number of boxes per lorry, thereby reducing the carbon footprint. To further enhance the boxes’ sustainability, Smurfit Westrock employs a glue seal on the recipe boxes, minimizing the use of plastic tape and decreasing its environmental impact. Dobis Brings Out Lightweight Shopping Bags with Mondi’s Recycled Papers Dobis, a producer of paper bags, baking papers, and wrapping papers, is leveraging Mondi’s selection of paper grades with recycled fibers to create paper bags for the fashion, fast food, and retail sectors. Dobis has introduced: Eco/Vantage Kraft Pro for fast food and grocery uses, featuring ISEGA food approval and 20% recycled content Eco/Vantage Light Fashion, crafted entirely from recycled fibers, is designed for fashion and gift bags Eco/Vantage Kraft Classic, which combines 50% recycled content with a focus on strength and printability for food and fashion packaging. This initiative has resulted in lightweight packaging that reduces material usage while preserving strength and print quality. 39% of People Are Inclined to Recycle Paper and Cardboard Products, Reveals PAMSA According to a recent survey conducted by the Paper Manufacturers Association of South Africa (PAMSA), approximately 39% of participants reported that they consistently recycle their paper and cardboard products, while 36% do so occasionally. Meanwhile, 20% expressed a desire to recycle despite not currently doing so. Overall, in 2023, South Africa responsibly recycled 1.2 million tons of paper and paper packaging, conserving 3.6 million cubic meters of landfill space. Termotécnica Brings out DaColheita Bio Packaging to Export Fruits Termotécnica, a producer of EPS packaging, has recently introduced its DaColheita bio packaging solution. This marks the company’s initial move towards diversifying its raw material base with a sustainable, renewable, and biodegradable option. Termotécnica claims that DaColheita packaging is 60% lighter than corrugated boxes, potentially lowering air freight expenses by up to 6%, leading to substantial savings across the supply chain and decreasing CO₂ emissions. Additionally, it aids in maintaining a stable temperature for transported goods, which is beneficial for items like premium grapes. Download ResourceWise’s paper In the Green: profitability and sustainability in pulp and paper here.
Categories: Forest Products Industry
Södra planning to divest forest holding in the Baltics
Södra’s mission is focused on members’ forests and to process their raw material, thereby creating value for these forest estates. Södra has therefore, as a step in implementing its strategy, decided to initiate a process to divest its forest holding and related activities in the Baltics. Source: Timberbiz The company said that in order to do what’s best for forest estates and Södra’s long-term competitiveness, the holding is routinely evaluated against business needs. “Our mission is focused on members’ forests, not to actually own forests. We have therefore initiated a divestment of the forest holding in the Baltics and a process is under way to find the right buyer. But we are not in a hurry,” said Peter Karlsson, President of the Södra Skog business area. The process means that Södra is now looking at potential interested parties with the aim of moving forward with a divestment in 2025. Södra owns approximately 153 000 hectares land in Estonia and Latvia, where the majority is in Latvia.
Categories: Forest Products Industry
Amazon switches to recyclable paper bags and envelopes in Australia
Amazon has stopped packing products in single-use plastic delivery bags and envelopes in its Australian distribution network. Customers will now be receiving packages in flexible paper bags and padded envelopes, which are more easily recyclable in household recycling across Australia. Source: Timberbiz This means all delivery packaging for customer orders shipped from an Australian fulfilment centre is household recyclable and can go straight in the bin – the bags, envelopes and boxes including the tape and protective filler. Amazon is also increasing the number of products that can be shipped in their original packaging provided by the manufacturer, with only an address label added. While Amazon controls the packaging for items shipped to customers direct from its own fulfilment centres, third party sellers can ship directly to customers themselves, in which case Amazon does not control the packaging. When a product comes in a single-use plastic bag from the manufacturer and the bag is suitable, Amazon will deliver the product to the customer in the manufacturer-supplied bag. This avoids the addition of extra packaging. Plastic preparation material such as bubble wrap may still be used where necessary, for example to protect fragile items like glass or to seal liquid products such as shampoo and soaps. In 2021, Amazon Australia replaced single-use plastic air pillows with recyclable paper filler to protect goods during shipping, and in 2023 it reduced box weights by 25% and label sizes by 50%, to minimise waste. As part of its ongoing commitment to reduce packaging, Amazon Australia recently invested in three automated paper packaging machines that pack single products in paper bags that are made on demand for the item. These unpadded, durable and flexible paper bags are up to 77% lighter than similar-sized plastic padded envelopes and help optimise and reduce packaging weight and shipped air, minimising waste while maintaining security. Amazon’s ‘Ships in Product Packaging’ program is another way the company is delivering an increasing number of essential items – such as nappies, toilet rolls and cases of drinks – to shoppers without additional delivery packaging, such as a box or paper bag. Eligible items are shipped in the manufacturer’s original packaging with just an address label added, avoiding unnecessary material use and reducing the weight of deliveries. Globally since 2015, Amazon has reduced the weight of outbound packaging per shipment by 43% on average and avoided more than three million metric tons of packaging material. Since 2021, the number of products shipped without additional Amazon packaging has more than tripled in Australia.
Categories: Forest Products Industry
Research to understand the risks of wildfires in the household environment
In partnership with Fire and Emergency New Zealand (Fire and Emergency), Te Whare Wānanga o Waitaha University of Canterbury (UC) students George Hamilton and Renee Martin were part of a team that examined the effects of factors such as fuel load, vegetation type, and proximity, on fire risk. Source: Timberbiz “Our research focused on identifying and mapping hedgerows and shelterbelts in rural Canterbury, analysing their characteristics, and understanding how these features influence fire behavior,” Mr Hamilton said. The research held personal significance for him. “My childhood neighbour’s house burnt down due to a hedgerow fire that spread for about two kilometres. That experience stayed with me and motivated my interest in this topic,” he said. Supervised by Associate Professor Marwan Katurji from UC’s School of Earth and Environment, the Science students began by mapping West Melton hedgerows and shelterbelts to understand their geospatial relationship with infrastructure. “This student project is contributing to understanding the risk of wildfire in the household environment, using fuel distribution and potential fire behaviour to inform safe living. The students’ methodology was informed by geospatial data analysis and community and stakeholder engagement to assess and communicate the risk better,” Associate Professor Katurji said. “This pilot research aligns well with Fire and Emergency’s ongoing national wildfire threat analysis programme. Identifying new fuel types in our rural-urban landscape will help in fire behaviour prediction and firefighting resource allocation.” Mr Hamilton says Canterbury has a significant number of hedgerows and shelterbelts near rural infrastructure but, despite this, there is limited research on their role in fire risk. Part of the research project was to create mitigation strategies based on their findings, Ms Martin explains. “We discovered that native plantings, creating breaks in shelterbelts and planting hedgerows and shelterbelts further from buildings are key to reducing fire risk.” In addition to this the team created a risk index to help identify high-risk areas. “By understanding the patterns and characteristics of hedgerows, communities can reduce fire impact before it starts and respond quicker when fires start,” Mr Hamilton said. As part of a compulsory third-year course, Research for Resilient Environments and Communities, for Bachelor of Science students majoring in Geography and Environmental Science, the project challenged students to tackle real-world issues, something Martin says she found particularly rewarding. “One of my key takeaways was learning to collaborate with a community partner, which required adaptability and delegation,” Ms Martin said. “The project highlighted the value of working with partners like Fire and Emergency. It allowed us to apply classroom and lab knowledge to real-world situations while also upskilling our data analysis skills.” Fire and Emergency Wildfire Scientist Grant Pearce said that student projects like this are a great way to initiate new research. “The students provide new ideas and approaches that we may not be aware of, and which can lead to better outcomes. Fire and Emergency will look to use this partnership approach again next year.” The team sees significant potential for scaling up the research nationally and internationally. “We looked at our research limitations and found that with more skills, time, and technology we could enable more precise differentiation of hedgerows from other vegetation and structures,” Mr Hamilton said.
Categories: Forest Products Industry
HIA wants political parties to fix housing affordability at election time
The Housing Industry Association wants all political parties contesting the 2025 Federal Election to take immediate and decisive action to address what is now widely accepted as a worsening housing affordability crisis. Source: Timberbiz HIA Managing Director Jocelyn Martin warned of the stark realities facing the country, unprecedented levels of homelessness, impossible access to rental accommodation and a growing view that home ownership is a thing of the past. “We are simply not building enough homes to keep up with demand,” Ms Martin said. “Australia needs to build around 240,000 new homes per year, every year, to meet demand and put downward pressure on affordability but in the last 12 months under 180,000 were completed. Not only is this shortfall driving up prices, worsening affordability, and placing enormous pressure on renters and families across the country but also means we are set to fall well below the Government’s commitment to build 1.2 million homes over five years,” Ms Martin said. “In the coming weeks and months, we will be asking both sides to stop politicising housing and consider the pressing challenges confronting Australians and the building industry. While the recipe to building more homes is not new, we need our leaders to own the housing supply problem and to work together with industry for solutions.” She said the recognition of construction industry skill shortages and recent infrastructure announcements were positive but to really move the dial on building activity long term action was needed to address the structural issues confronting the housing industry. “Taxation policies are playing a major role in driving up costs,” she said. “Taxes now account for up to 50% of the cost of a new home in most major cities. Immediate reforms are needed to remove inefficiencies like stamp duty cascading onto GST, which unfairly inflate housing prices and make affordability even harder to achieve.” Land supply remained another significant hurdle, with a lack of development-ready land stalling housing projects across the country. “We have hundreds of housing sites ready to go but held back due to inadequate infrastructure,” Ms Martin said. “The Federal Government must invest in the roads, water, and services needed to deliver these projects. “In 2025 we ask all political parties to be outraged over the status quo and be bold, be courageous and prioritise initiatives which directly improve housing supply. Let’s build the homes Australians need and ensure everyone has a place to call home,” Ms Martin said.
Categories: Forest Products Industry
Minister Sharpe is not so sharp according to Miles Kemp
The Labor Government’s Environment Minister Penny Sharpe’s tenuous grip on scientific truth has finally been broken, now allowing real, scientific based research to reveal what political agendas have long suppressed in the fight over koala populations and sustainable forestry in NSW, according to the Member for Oxley Miles Kemp. Source: Timberbiz Dr Bradley Law, the NSW Government’s own Principal Research Scientist has presented findings that challenge decades of political ideology, proving that sustainable forestry and koala conservation can co-exist. “The Minns Labor Government has long pandered to ideological interests rather than following the facts. Now that the real experts are being heard, it’s clear their scare tactics were nothing more than politically driven nonsense,” Mr Kemp said. “For years, an anti-forestry agenda has been pushed, ignoring evidence and stifling progress. This research finally gives us the facts: sustainable forestry is not the enemy of koalas, urban encroachment, extreme fire and disease is.” Dr Law’s research, which surveyed over 220 sites, revealed that 60% to 70% of surveyed sites were populated by koalas, far exceeding previous assumptions about koala numbers in forestry areas. Dr Law stated that koala’s presence at the surveyed sites were unaffected by forestry timber harvesting. Control experiments within National Parks showed no difference of koala occupation between National Parks and State Forests. “Science has proven that balance is possible, ideology should never be used to drive policy,” Mr Kemp said. “Labor’s own recent drone survey backs up Dr Law’s research, identifying over 12,000 koalas living within the assessment area of the Great Koala National Park. It’s time they conduct similar surveys in National Parks to definitively prove whether responsible, sustainable forestry impacts koala populations at all.” The research pointed to bushfires as the primary threat to koala populations, not forestry. The findings reinforce that current protections in place during harvesting are effective. “NSW koala numbers are stronger than activists would have us believe, and sustainable forestry provides much-needed habitat support while mitigating the dangers posed by fire,” Mr Kemp said. “Labor needs to face reality and protect our managed forests. After all, 88% of our forested land in NSW is already unable to be harvested due to being held by National Park or protected for Riparian, flora, or fauna regulations. “Based on the evidence from Dr Law, we need to increase the size of State Forests as they are much better at managing land and much cheaper per hectare,” he said.
Categories: Forest Products Industry
AFPA welcomes Dr Lawrence to his new role at AFWI
The Australian Forest Products Association has welcomed Australian Forest and Wood Innovation’s newly appointed Executive Director, Dr Joseph Lawrence to the role ahead of what the AFPA sees as an exciting phase for forestry sector research and development. Source: Timberbiz “AFPA and the broader forestry sector are excited to have Dr Lawrence start as AFWI’s Executive Director this week,” AFPA Chief Executive Officer Diana Hallam said. “Dr Lawrence brings extensive experience in research, innovation and industry development through an array of roles at universities, government agencies and across a number of industries, including manufacturing, agrifood, health, digital, energy and construction,” Ms Hallam said. “Dr Lawrence’s appointment marks an important new phase for AFWI as it embarks on a program of transformative research that will help Australia’s forestry sector find new avenues of innovation and enterprise, at the same time the world is looking for ways to decarbonise. “There are enormous opportunities for our industries to hone the scope of use for sustainable timber and wood fibre – and AFWI has a central and exciting role in this space.” “AFPA had a key role delivering AFWI and we’re looking forward to working with Dr Lawrence as he takes the reins to facilitate research and development that matters for the Australian forestry industry. Part of the formula for success is to ensure local industry participation, so forestry can get the most from AFWI as a research and development institution for our future-focused sector,” Ms Hallam said.
Categories: Forest Products Industry
Australian Forest and Wood Innovations appoints new executive director
Australian Forest and Wood Innovations has appointed Dr Joseph Lawrence as its new Executive Director. Dr Lawrence’s 20-year career has specialised in research collaboration, innovation, and industry development. Source: Timberbiz Dr Lawrence has led initiatives across major industries including manufacturing, agrifood, energy, engineering, digital, and health. His previous roles include Pro Vice-Chancellor (Strategic Partnerships) for Research and Innovation at Deakin University; Director of New Zealand’s Centre of Excellence for Electric Power; and Executive Director, Industry Recovery and Engagement and Executive Director, Strategic Skills Projects at the Victorian Government’s Department of Jobs, Skills, Industry and Regions. Dr Lawrence holds a PhD in Engineering Management from the University of Canterbury, where his research focused on business models for collaborative research centres. “Joining AFWI at this pivotal moment for the organisation and the forestry and wood products sector is an incredible opportunity,” Dr Lawrence said. “My focus will be on strengthening partnerships between researchers, industry, and government to position AFWI as a leader in transformative, industry-led research. “By advancing innovation and sustainability, we aim to deliver tangible benefits that directly support and grow the sector,” he said. “I’m eager to collaborate with our partners to drive impactful outcomes that address the industry’s evolving challenges.” Dr Lawrence’s appointment marks a new chapter for AFWI as it continues to drive transformative research and foster collaboration within the forestry and wood products sector. Dr Lawrence will begin by meeting with industry representatives to discuss the state of the sector, opportunities and challenges the industry is facing, and how AFWI’s research can benefit the industry. AFWI’s Board Chair, Bob Gordon, expressed his enthusiasm for the appointment, highlighting the rigorous selection process undertaken by a panel that included representation from AFWI, AFPA, and the University of Tasmania. “After a thorough recruitment process, we’re thrilled to welcome Dr Joseph Lawrence as AFWI’s Executive Director,” Mr Gordon said. “His impressive track record in fostering collaboration and delivering innovation makes him uniquely qualified to lead AFWI in achieving its ambitious goals. “With the support of our Board of Directors and a team of expert staff, we are confident Joseph will help shape the future of the forestry and wood products sector.” Dr Angela Castles, Dean of the College of Science and Engineering at the University of Tasmania, also welcomed the appointment. “We are very pleased to have secured someone of Joseph’s calibre for the Executive Director role,” Dr Castles said. “He brings a combination of executive experience across universities, government, and industry, as well as leadership in research and development, innovation, and sectoral partnerships. “His strong engagement skills and clear vision for AFWI give us confidence he will hit the ground running and engage with our important industry partners early in his tenure.” The Federal Government is investing $300 million in the future of the forestry industry, which includes over $100 million for AFWI. “I am very pleased to announce Dr Lawrence’s appointment as the Executive Director of AFWI. Dr Lawrence’s experience and excellence in his field means AFWI is in extremely capable hands,” Minister for Agriculture, Fisheries and Forestry, Julie Collins, said. “AFWI has an important role to play in supporting research and innovation for the Australian forestry sector. Dr Lawrence will be a vital point of contact for industry and provide direction and security for both AFWI and the timber sector,” she said.
Categories: Forest Products Industry
Bendigo and Adelaide Bank slammed for dropping TP Bennett
The Bendigo and Adelaide Bank has been slammed over its decision to withdraw its longstanding support for Tasmanian forestry contractor T P Bennett & Sons and drop them as a customer on “ESG (environmental, social, and governance) grounds”. Source: Timberbiz The Australian Forest Contractors Association has chosen to end its business relationship with the bank because of the decision. “The community banking credentials are why AFCA was pleased to use Bendigo Bank as our financial services provider,” AFCA general manager Tim Lester said. “On the basis of this ESG policy the AFCA Board has chosen to end our business relationship,” Mr Lester said. TP Bennett and sons business manager Tammy Price told The Mercury that in 2022 she started trying to get refinancing from Bendigo Bank for some of the company’s plantation equipment. After a back and forth between the local branch and higher ups, the loan was denied. “Because our income comes from native forestry they said no, we can’t help you,” Mrs Price – a former Bendigo Bank board member – told The Mercury. She invited Bendigo Bank to come to Tasmania and witness the sustainable industry and learn about the rules and regulations loggers have to abide by. “Because our income comes from native forestry they said no, we can’t help you,” Mrs Price said. She invited Bendigo Bank to come to Tasmania and witness the sustainable industry and learn about the rules and regulations loggers have to abide by. A Bendigo Bank spokesman told The Mercury Bendigo and Adelaide Bank does not comment on specific customer matters but assesses each application according to its policies, risk appetite and credit decision process. “From time to time, the Bank has determined not to proceed with lending applications on the grounds that they fall outside our business writing strategy and balance sheet risk appetite. “We know not all our stakeholders will be supportive of all our decisions,” he said, adding that decisions are made on balance and in the best interest of the bank and its broader stakeholder group of “customers, investors, or people and the community”. Tasmania’s Minister for Business, Industry and Resources, Eric Abetz, said it was important that corporate Australia stick to the facts on native forestry. “Tasmania’s forestry sector, with its mixed approach of conservation and active forest management, provides an exceedingly high degree of environmental protection and sustainability,” said Mr Abetz. “We are blessed in Tasmania to have a sustainable, word-class native forestry sector that puts food on the table for thousands of families. “The news that Bendigo and Adelaide Bank is looking to withdraw their support for Tasmania’s sustainable, world-class native forestry industry is disappointing and misguided.” The Tasmanian Forest Products Association said the decision had caused many small forestry businesses to lose access to the quick finance they needed to keep their business afloat. “By its very nature, forestry is an industry that requires large amounts of long-term finance. It takes years to successfully grow, harvest and regrow a forestry site,” TFPA Chief Executive Nick Steel said. “By refusing to finance part of our industry, the bank is handing a slap-in-the-face to those employed and the families that rely on forestry in Tasmania. “This is simply another form of greenwashing by one of Australia’s biggest financial institutions which ironically claims that helping communities thrive is at the heart of what they do.” In January last year leading forestry expert Rob de Fegely resigned from Bendigo Bank over its policy not to support the harvesting of native forest. Mr de Fegely resigned from the board of his local Community Bank due to its parent Bendigo Bank’s policy of not supporting native forest harvesting. Mr de Fegely, a former director of Margules Groome Consulting, chair of Sustainable Timber Tasmania and a non-executive director of Forestry Corporation of NSW, emphasised at the time that these were his personal views and not those of any of the organisations he works for. “Despite numerous exchanges with the chief executive, Marnie Baker, and the head of corporate affairs and ESG, they have not provided any justification for their policy, which is contrary to the United Nations International Panel on Climate Change recommendations for managed forests,” he said at the time. Mr de Fegeley said he had told the chief executive that finger pointing or cancel culture was an inappropriate way to resolve the complex challenges of sustainably managing Australia’s natural forests. Mr Abetz said he had written to Bendigo and Adelaide Bank CEO Richard Fennell, to express his genuine disappointment and frustration at this misguided decision. “Tasmania has a legal, renewable, and sustainable native hardwood industry from which we source timber and fibre, including high-value special species and appearance grade timber,” Mr Abetz said. “Timbers for these uses cannot be sourced from plantation – if we do not produce them here locally, they need to be imported at great cost. “This would see timber being imported from Malaysia, Indonesia, the Solomon Islands and South America – countries that frankly do not compare with Tasmania’s approach. “What could be more sustainable than houses being built and furnished in Tasmania from sustainably grown Tasmanian timber harvested by local businesses? It simply doesn’t pass the pub test that a local bank wouldn’t be prepared to finance this type of activity,” he said. “I’m proud to stand side by side with our forestry sector and will continue to support these businesses under our 2030 Strong Plan for Tasmania’s Future. “Our Liberal Government will not be swayed by the views of mainland extremist groups which have a radical ideological opposition to native forestry.” Mr Steel said the decision to end the availability of finance to Tasmanian native forestry businesses was misguided and seemed to be caused by pressure from radical environmental activists. “This knee-jerk reaction from the bank and its shareholders is based on misinformation and fear drummed up by the usual extreme environmental activists,” Mr Steel said. “The same extreme activists who routinely interrupt our legal and responsible businesses. “As a result, […]
Categories: Forest Products Industry
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