Australia now has a softwood Timber Market Index (TMI), which will, for the first time, track historical price movements for different categories of softwood products.
The Index was launched at the Australian Forest Products Association (AFPA) Members Dinner, attended by Australian Federal Minister for Agriculture and Forestry Murray Watt and Shadow Minister Jona Duniham on the eve of COP28.
“The Timber Market Index is a powerful new tool in tracking industry price movements and trends over time,” according to Kevin Peachey, who is Head of Built Environment Programs at FWPA.
“It’s exciting to see this great initiative launched and to be able to support our industry with increased transparency and confidence in tracking industry trends.”
The Index, which was developed with the strong support of industry, is a close collaboration between the FWPA – which provides national, integrated research and development services to the industry and AFPA – the peak industry body for forestry, which dates back more than six years to a report looking at a new and best practice approach.
“The development of the Timber Market Index is a great example of collaboration and will help support industry analysis as well as business planning”, said Andrew Leighton, CEO of FWPA.
Meanwhile, Acting CEO of AFPA Natasa Silkman is leading a delegation of forest industry professionals attending the COP28 Climate Change Summit in Dubai.
“AFPA is an official observer to the United Nations Framework Convention on Climate Change (UNFCCC), and we will use our observer status to showcase to Australian and global policy decision-makers,” Natasa Sikman said.
Before leaving for Dubai, Ms Silkman said Australia’s land sector would play a significant role in reducing and sequestering emissions needed to meet the goals of the Paris Agreement.
“Sustainable forestry management needs to play a larger role in emissions reduction, and decision-makers need to understand better that the carbon captured by production trees is transferred into the built environment,” she said.
“Decision makers and the broader public want the forest products sector’s renewable, sustainable and recyclable paper, packaging and fibre products, and sustainable resource security is critical for these products.”
According to AFPA Chair and former Australian Agriculture Minister Joel Fitzgibbon, “The importance of being on the ground at COP28 cannot be overstated for a sector like ours, which has greater potential than most to be part of Australia’s climate change solution, which at present is often taken for granted.”
“We will be on the ground promoting the benefits that forestry and forest products provide to the transition to a low-carbon economy. In addition to our key events, the AFPA team will be participating in bilateral meetings with key stakeholders who want to engage with the sector.”
AFPA will participate in and lead several COP28 events, including hosting a panel discussion on Sensitive Afforestation: Winning Solutions for the Climate and Communities on the 9th of December in the Australian Government Pavilion.
AFPA’s official UNFCCC side event, Design Thinking, Global Standards, & Integrative Solutions for a Net Zero Built Environment, will be held in conjunction with both the American and British Architect Institutes, where we will showcase the impact forest products have in reducing emissions in the construction sector which currently accounts for approximately 40 per cent of global emissions.
