Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
New Zealand's forestry urged to process harvested logs domestically to fulfill carbon goals
Posted on May 15, 2023 |
New Zealand’s Forestry to fund $57 million to boost investment in household wood-processing facilities.
The action comes as the government aims to make wood a carbon-friendly choice in construction, fuels, packaging, biochemicals, and pharmaceuticals.
In July, the Wood Processing Growth Fund will provide $3 million a year to research pilot studies, business cases, and market development in onshore wood processing projects.
The remaining funds are for companies that want to build plants or support equipment and technology.
New Zealand Forest Service sees risks in the strategy as log harvest forecasts to decline by 15% by 2035, pressuring supplies for any new processing plants.