News By Tag
News By Place
EU Legislation Outlawing Illegal Timber dealing is welcomed by FRA
FRA has welcomed the introduction of new legislation in the EU that outlaws the selling of illegally sourced timber.
By: Peter Collins
In a move that FRA claims strengthens the importance of investing in sustainable forestry projects, the EU will introduce its new Timber Regulations in March next year.
The new legislation will make sure firms that trade in timber are forced to check the source of their timber products and make sure they come from sustainably managed forests.
“This can only be good news for the environment and the forestry industry around the globe,” stated FRA’s analysis partner, Peter Collins. He added, “cutting out the trade in illegally sourced timber in Europe is essential to the fight against climate change and also for the sake of consumers who would hate to think they are encouraging deforestation when they purchase a new piece of furniture from a European retailer.”
FRA claims that as the opportunity to sell illegally sourced timber products reduces, the demand for timber produced from sustainably managed plantations will increase. “This is great news for forestry investors who have put their cash into plantation schemes at home and abroad,” added Mr Collins.
An example of this kind of project is the one run by Greenwood Management in Brazil. Greenwood offers investors the chance to invest in a section of plantation in Brazil for as little as $10,000. The plantation grows fast-growing non-native trees like teak and eucalyptus, whose wood is prized for its use in furniture making and in the production of coal for the steel industry.
The project is sustainable because the trees are harvested when they reach maturity but there are other trees being grown to replace them in a cycle model.
Those who are found to be dealing in illegally sourced timber after March 2013 will be fined the value of the damage the incident has caused to the environment, along with the value of the timber in question.
Forestry Research Associates
620 Vineyard Lane
Bainbridge Island, WA 98110
(206) 316 8394