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In a recently published paper, Investing in a Nature Positive Future, New Forests, a global investment manager of nature-based real assets and natural capital strategies, has seen increasing numbers of investors making commitments to align their investment portfolios with both the net zero aspiration of the Paris Agreement and the concept of ‘nature positive’ flowing from the Kunming-Montreal Global Biodiversity Agreement. Source: Timberbiz To establish effective strategies and make measurable progress against these goals, New Forests says investors will need experienced landscape and forestry asset managers to help manage risks and unlock new sources of value to achieve nature positive outcomes. The concept of nature positive refers to the conservation, restoration and enhancement of nature, reversing its decline by 2030 and achieving full and ongoing recovery of nature by 2050. New Forests, founded in 2005, has almost two decades of experience in optimising risk and returns from nature-based solutions and land-based investments. Investing in a Nature Positive Future offers a practical framework for investors, outlining the policy environment, mechanisms to incentivise conservation and regulate impacts on nature as well as the opportunities arising for investors in private real assets, particularly forestry, agriculture and conservation land management. Taking on this challenge will require new technologies to be able to forecast landscape conditions into the future. Nature-based real assets are increasingly converging into a natural capital asset class offering potential solutions to climate change, nature decline and the provision of critical renewable resources whilst accelerating investment opportunities in real assets. Today, the global investible universe for forestry is US$300 billion. The new natural capital asset class with exposure to agriculture and timber markets, carbon pricing, biodiversity markets and options for renewable energy development is drawing substantial investor interest. New Forests expects investment into natural capital could rise to US$1 trillion or more over the next two decades. “To make this rise in investment a reality, it is critical that the economic and policy signals are fit for purpose. We need standardised accounting for carbon in landscapes, metrics for biodiversity, market-based approaches to climate and nature conservation solutions,” said David Brand, Founder and Chair of New Forests, who has 40 years’ experience in land investment, forest management, science, and public policy. The Paper emphasises the imperative to create value for nature, and price signals that make it more economically attractive to conserve and restore nature, than to destroy it. “The positive news is that global recognition of the economic and environmental benefits of carbon projects and biodiversity projects and demand for solutions is growing,” said Mark Rogers, Chief Executive Officer, New Forests. “Land-based investments are increasingly recognised as foundational to climate change mitigation and adaptation solutions, restoration and conservation of nature and the provision of critical renewal resources into a sustainable bioeconomy. We are seeing new sources of option value enabling investors to derive enhanced risk adjusted returns from land-based investments as well as portfolio level decarbonisation and nature positive outcomes. “Where investment previously would be based on conventional returns from the sale of timber or agriculture produce, now there is exposure to carbon markets and biodiversity markets or payments, tradeable water rights, wind and solar farm leases.” There is growing pressure on businesses to disclose their sustainability-related performance as well as risks and opportunities. This in turn requires the creation of standardised approaches to measuring, monitoring, accounting and reporting on biodiversity metrics and progress towards nature positive outcomes. The facilitation of a standardised nature disclosure framework from the Taskforce on Nature-related Financial Disclosures (TNFD) will enable both businesses and investors to demonstrate transparency across four areas – governance, strategy, risk and impact management and metrics. The Paper also discusses major advances in technologies and analytical approaches needed to collect data on these attributes to optimise land use. For example, geospatial modelling, which can layer data on soils, topography, climate and weather patterns to optimise land use and enhance agricultural and forestry productivity. “There are multiple competencies necessary to understand the financial characteristics of this future-looking natural capital asset class for investors, but this brings major opportunities. Blending together a set of dynamic, potentially uncorrelated revenue streams encourages a review of where this new natural capital asset class fits in an investment portfolio, the range of different investment structures and approaches that can be used, and whether allocations can or should be increased,” Mr Brand said. “Ultimately specialist managers will be needed to package up these components and bring these investment opportunities to the market. We are in a race to stabilise and restore as much of our biodiversity as possible before it is lost.” You can download the paper here.

Midway Limited has been appointed by Rio Tinto to develop Pongamia seed farms to test its viability as a sustainable renewable diesel feedstock. Source: Timberbiz Midway will design, execute and manage approximately 3,000 ha of Pongamia seed farms and associated biodiversity plantings from a new office in North Queensland. The team will employ from local communities and businesses, contributing to the region’s economic growth. Midway has also been contracted to provide land acquisition, due diligence advice, farm and irrigation development, operations management, project management, and carbon related consulting services. Pongamia, Millettia pinnata, is a medium sized, fast-growing tree or shrub, that produces seed with a high oil content.  Renewable diesel is a drop-in alternative to fossil diesel fuel. It is made from fats and oils and emits significantly less carbon emissions than conventional diesel, over the lifecycle. “We are delighted to have been appointed to partner with Rio Tinto to help them achieve their biofuel ambitions,” Tony McKenna said. “This is a significant achievement for the carbon team at Midway and we are very excited to be partnering with Rio Tinto on this innovative pilot project. “The collaboration reinforces our reputation as trusted advisors with the capability and experience to deliver large scale carbon abatement projects for emitters who are committed to reducing their net emissions.” Rio Tinto Chief Decarbonisation Officer Jonathon McCarthy said that while they have successfully integrated renewable diesel in its United States operations, Australia currently lacks a sufficient biofuel feedstock industry to meet domestic demand. The pilot represents an important step in helping to bridge that gap and advance our decarbonisation goals. “Developing a sustainable biofuels industry in Australia could enhance the region’s fuel security, create local economic opportunities, and contribute to emissions reductions targets. We are excited about the potential of the Pongamia pilot and look forward to partnering with Midway Limited and north Queensland communities,” he said. Biofuels are playing an increasing role in Rio’s decarbonisation strategy as they provide an opportunity to reduce fossil diesel use, and the emissions generated, while electrification technology develops. Rio Tinto has converted two US mining operations to renewable diesel over the past year and has been working to better understand the biofuels industry, market conditions and opportunities in Australia.

A week after 230 workers heard the news of job losses due to the closure of the WPI sawmill and pulp mill in the Ruapehu District, another 75 pulp workers at the Oji pulp mill in Penrose, New Zealand are awaiting the announcement of their fate today. Source: Timberbiz Oji Fibre Solutions announced to its Penrose staff last month that it was considering closure and entered into a 4-week consultation period with the workforce and their unions, FIRST and E tū, followed by a 2-week decision period. “On behalf of our members, the unions first asked a series of questions of the company regarding its proposal to close, then made a comprehensive submission that concluded with the call for the mill to remain open,” said Justin Wallace, FIRST Union organiser for the Oji Penrose Mill. “This mill is different from every other pulp mill in the country. Its feedstock is not wood, but recycled cardboard and paper. “The mill is an integral component of New Zealand’s recycling system. By the company’s own admission, if the mill closes, New Zealand paper and card recycling will be sent offshore to Malaysia for processing. “We’ve discovered that 80% of Malaysia’s electricity is produced by coal fired power stations and the additional carbon footprint of shipping recycling to Malaysia and importing paper back adds significantly to the carbon footprint of recycled paper production, making a mockery of any environmental credentials. “In addition, United Nations and other reports are highly critical of near or actual modern slavery practices that workers face in the Malaysian timber and pulp industries.” While the price of electricity was the key reason for the closure of the mill, that price has now dropped. The union submission notes that and offers alternatives to the company being held to ransom by the exorbitant wholesale spot prices of electricity as it has in the past. “We’re calling on Oji Fibre Solutions to reverse its proposal, take up some of the union-generated proposals and keep the Penrose Mill operating as a key component in New Zealand’s recycling system,” said Mr Wallace. Mr Wallace said it was not too late for the Government and energy producers to intervene cooperatively in the market to reduce wholesale electricity costs and save mills like Oji’s Penrose plant from closure. “Aucklanders will not be happy to lose a piece of vital infrastructure and see their recycling being shipped to Malaysia and back instead of dealing with the core issue of high energy costs in New Zealand,” said Mr Wallace.

The Gottstein Trust’s annual round of capacity building grants is open for applications until midnight Wednesday 16 October 2024. Source: Timberbiz The purpose of the grants is firmly aimed at further advancing the forest and forest products industry across Australia. The range of grants are awarded to individuals who seek to grow their ability to contribute in positive ways. “We urge all people and culture/human resource teams, business owners, company executives and operations managers everywhere to make sure their personnel are aware of these wonderful opportunities and encourage them to apply,” said Gottstein Trust chair, Suzette Weeding. Three types of grant opportunities are available. They offer wide scope for industry personnel right along the value chain and researchers and students are also eligible to apply. “Without fail, such impressive people come out of the woodwork when we invite applications annually. A Trustee panel reviews every application thoroughly before making decisions about which applications will be awarded a grant,” Ms Weeding said. “This is always a competitive round, and we feel genuine excitement at the prospect of seeing the applications.” Three award grant categories are open for applicants. Skills Development Grants are for people who work at any level in the sector. Types of eligible activities include, but are not limited to, conference fees, field trip attendance, a short course, travel to learn about a certain skill or machine operation. The Gottstein Scholarships are for people pursuing a vocational qualification at TAFE level, or in university at either under-graduate or post-graduate level. Scholarship funds may be used for course related or general living expenses at the discretion of the scholarship recipient. Gottstein Fellowships – are the premier grant to be awarded. A fellowship recipient receives funds to pursue a research project they’ve identified and developed for consideration. Most entail international or domestic travel, and outcomes are made available for industry via a report written by the Fellow. There’s no doubt at all that the impact of a Gottstein Fellowship in particular, helps to boost careers. In some cases, they can even be life changing. “It’s evident that the positive impact is truly long lasting,” Ms Weeding said. The Gottstein Trust Fund has boosted the careers of a great number of people and so many moved on to senior leadership positions. “It’s time now for today’s future leaders to step forward with their ideas and submit an application to be considered for any of these three grants,” said Ms Weeding. A great opportunity awaits – as evidenced from the personal testimonials given by people. Online application forms can be accepted until midnight Canberra (AEST) time Wednesday 16 October 2024. Shortlisted candidates will be interviewed by a Trustee panel in November with offers to successful candidates made not later than early December. Those who wish to discuss a project idea in advance of preparing an application can call Helen Murray on 0419-991-424. All other enquiries can be directed to team@gottsteintrust.org Or for more information visit: https://gottsteintrust.org/  

A new review has found inconsistencies in the local government planning framework for tree farms, which may be hindering growth in the sector. Source: Timberbiz Commissioned by the South West Timber Hub in Western Australia, the Review of Local Government Planning Frameworks for Tree Farms was officially released on Wednesday, 18 September. It examined the planning framework of 25 local governments and provided a list of recommendations to help achieve clarity and consistency for local governments in considering tree farm proposals. South West Timber Hub Project Manager Wendy Perdon said the inconsistencies highlighted by the review undermined clear and consistent decision making to gain approval for new tree farms. “This is ultimately to the detriment of the State in fulfilling its intent to support and grow the timber sector to meet demand, as well as societies increasing expectation and obligation to reduce emissions and move towards renewables across the economy,” Ms Perdon said. “Historically there have been issues in this area and planning guidelines can vary greatly between local governments, even when they are located next to each other. The South West Timber Hub commissioned this review to examine these discrepancies and provide some clear recommendations going forward.” WA’s plantation sector, which consists of hardwood and softwood varieties, contributes more than 1.18 billion dollars of economic activity. Demand for timber products is anticipated to quadruple by 2050 and at least 50,000ha of additional softwood plantation is needed to help meet the demand. Plantation timber is used to make the timber frames for homes, engineered wood products used to build new multi-storey residential and commercial buildings, wood-based panels for kitchens, pallets, and wood fibre used to manufacture paper, packaging and bioproducts, replacing single use plastics. In addition, residues go into making potting mix, mulches, composts and landscaped products for gardens.

In the face of rising costs across industries, Wesbeam as Australia’s only LVL manufacturer is stepping up to support Australian businesses with a price freeze. Source: Timberbiz With the prices of energy, logistics, commercial leases, and materials increasing, many companies are passing these costs onto their customers. However, Wesbeam is taking a different approach, offering stability when it’s needed most. Effective immediately, Wesbeam announced a six-month price hold guarantee on all LVL and LVL I-joist products until March 2025. While others are increasing their prices, Wesbeam is committed to maintaining current pricing for the next six months to help customers plan and operate with certainty during these challenging times. “We recognize the pressures our customers are under, and we want to support them by offering price stability and supply security,” said James Malone, CEO of Wesbeam. “As Australia’s only manufacturer of LVL and LVL I-joist products, we are uniquely positioned to control what others cannot. This price hold reflects our commitment to Australian businesses and the residential housing market.” Wesbeam is more than just a manufacturer. With a state-of-the-art production facility in Western Australia, secure and guaranteed timber resources, and nationwide distribution, engineering, and sales centres, Wesbeam ensures consistent, uninterrupted supply across Australia. In addition to this, Wesbeam offers industry-leading technical support to both customers and their builder clients. “Our world-class manufacturing facility is equipped to meet demand, backed by a nationwide network of support. Supply security and price stability are at the core of what we offer, ensuring our customers succeed today and into the future,” Mr Malone said. The decision to hold prices for six months demonstrates the company’s commitment to helping businesses succeed despite the current economic challenges.

Nationals’ Member for Gippsland East, Tim Bull, has asked the Minister for Environment, Steve Dimopoulos, to specify the locations of the job losses within the Department of Energy, Environment and Climate Action (DEECA) in East Gippsland. Source: Timberbiz The question in Parliament comes on the back of the media publishing Departmental documents stating 220 positions will be removed from DEECA, and staff at locations such as Orbost, Swifts Creek, Heyfield and Nowa Nowa were told of the reductions. “I have had family and community members contact my office from these areas, saying they’ve been told earlier this week there will be a reduction in positions,” said Mr Bull. “In addition, I have also been advised some of these jobs will become ‘regional’ rather than local, and in other cases, staff have been offered to reapply for jobs with less pay. “These are communities that have been hit by the timber industry closure and are townships the government said it would support. “Also of concern is that some of these positions are Forest Fire Management workers, whose job it is to protect our community. “We have a government that has slashed the CFA budget and has overseen a fuel reduction burning program that falls well short of keeping us safe – and now they cut our government fire positions. “The benefits of fuel reduction burning are well documented and when you don’t do it, there cannot be any other outcome than a devastating fire. But then cut the CFA Budget and remove jobs from fire protection only worsens the problem,” he said. “What I have asked the Minister is to specify how many jobs are going from East Gippsland, and from which offices.”