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Forestry companies to come together in a project to support climate goals

Australian timber industry news - Mi, 02/07/2025 - 02:48

One of the key themes of the recent London Climate Action Week was mobilising public and private finance to support global climate goals and transitions, particularly in the lead-up to COP30. Source: Timberbiz To further this mission, 10 leading forestry companies announced they will come together to quantify and value a set of ecosystem services with the aim of building the foundation for an investible market. These entities own or manage millions of hectares of forests in 21 countries. The 18-month project, an initiative of the International Sustainable Forestry Coalition (ISFC), will be supported by Value Australia (part of the Capitals Coalition) and the Taskforce on Nature-related Financial Disclosures (TNFD). “The world must begin to increase investments with positive impacts on both climate and nature. However, if we are to attract the scale of funding required these investments must also make economic sense,” Independent Chair of the ISFC, Dr David Brand said. “The global forestry sector can deliver sustainable, renewable materials as well as positive outcomes for climate and nature. Central to this is standardising the accounting for the extensive natural capital assets managed by these companies. ISFC members wish to be at the forefront of this work and have therefore decided to come together to build out mutually supporting Natural Capital reports.” Mark Gough, Chief Executive Officer of Capitals Coalition said that the contribution that the forestry sector can make has often been undervalued. “The ISFC is stepping up to address this by working with the Capitals Coalition and TNFD to produce consistent accounts and disclosures that can reflect the true value of forestry.” Rayne van den Berg, Chief Value Officer at Value Australia which is a regional Capitals Coalition hub added that many individual companies and thought leaders have worked for years to develop frameworks and methodologies to quantify and value Natural Capital with the aim of providing better information for more informed decision-making. “This project will be a ‘game-changer’ as, for the first time, a collective of leading forestry companies will develop consistent reports for their most material ecosystem services and the approach taken to quantifying impacts and dependencies.” Tony Goldner, Chief Executive Officer of the Taskforce for Nature Related Financial Disclosures said that TNFD was pleased to support this collective effort as ISFC has been able tobring together an impressive range of forestry sector players prepared to work together for the good of nature and climate outcomes, balanced with delivering returns. “The TNFD framework, and the LEAP process, being adopted by enterprises all over the world, provides the frame of reference for this project. The missing piece of that puzzle has been the valuation of ecosystem services, which must occur if we are to pivot globally away from nature destructive investments to nature enhancing capital flows. TNFD will utilise the learnings from this project to help inform its guidance and to demonstrate the link between TNFD Nature-related assessments and Natural Capital Accounting for Valuation and presentation.”

The post Forestry companies to come together in a project to support climate goals appeared first on Timberbiz.

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