ABSTRACT

Demand for forest products in Australia exceeds domestic capacity for local production and supply, resulting in a significant trade deficit in forest products of around AUD 2 billion per year. Domestic demand for forest products is forecast to continue increasing because such products are recognised as more sustainable than many alternative materials used in construction and as feedstocks for other industrial processes. There is increasing pressure to establish more forest plantations to meet this need. Tasmania has around 16% of the national plantation estate and large areas of natural forests that have been protected and conserved. However, there has been a recent decline in the area of the plantation estate, both nationally and in Tasmania, mainly due to increasing competition from agricultural land uses, which provide higher returns and drive land prices higher than can be justified by returns from forestry. This declining trend will be hard to reverse, given that substantial new areas are unlikely to be available for greenfield plantation establishment. A more prospective area for expansion is likely to be the establishment of trees on farms. This option has significant potential because strategic investment in trees on farms can create valuable assets for increasing farm-level sustainability, resilience and profitability. The choice of appropriate species and planting configuration can help improve the financial balance sheet, stocks of natural capital and flows of ecosystem services. Past investment motives for tree-planting in Australia have mainly been based on anticipated returns from timber. If more tree-planting is to be achieved in Tasmania in the future, it will have to be on cleared private land, and the investment motivation will need to encompass the broader values of trees beyond wood production. This review explores the prospective investment opportunities to facilitate greater establishment of trees on farms and sets out seven key areas where research and policy effort is needed: engaging with leading agricultural financial institutions; engaging with institutional investors; engaging with grower organisations around ‘zero carbon’ and ‘nature positive’ branding; research to support the better quantification and adoption of natural capital and its financial benefits; encouraging joint ventures between the industrial plantation sector and farmers; better monetising the carbon sequestration by trees; and the reinvigoration of social capital around growing trees.

摘要

澳大利亚对林产品的需求超过了当地生产和供应的国内能力，导致每年约 20 亿澳元的林产品贸易逆差。预计国内对林产品的需求将继续增长，因为此类产品被认为比建筑中使用的许多替代材料和其他工业过程的原料更具可持续性。建立更多的人工林以满足这一需求的压力越来越大。塔斯马尼亚拥有约 16% 的全国种植园和大面积的天然林，得到保护。然而，最近全国和塔斯马尼亚的种植园面积有所下降，主要是由于农业用地竞争加剧，这提供了更高的回报，并推动土地价格高于林业回报所能证明的水平。这种下降趋势将难以逆转，因为不太可能有大量新地区可用于新建人工林。更具前景的扩张领域可能是在农场种植树木。这种选择具有巨大的潜力，因为对农场树木的战略投资可以创造宝贵的资产，以提高农场的可持续性、复原力和盈利能力。选择合适的物种和种植配置有助于改善财务资产负债表、自然资本存量和生态系统服务流量。过去在澳大利亚植树的投资动机主要是基于木材的预期回报。如果未来要在塔斯马尼亚进行更多的植树活动，就必须在清理过的私人土地上进行，投资动机需要涵盖木材生产之外的树木的更广泛价值。本次审查探讨了促进在农场种植更多树木的潜在投资机会，并列出了需要研究和政策努力的七个关键领域：与领先的农业金融机构合作；与机构投资者接触；围绕“零碳”和“自然积极”品牌与种植者组织合作；支持更好地量化和采用自然资本及其经济利益的研究；鼓励工业种植业部门和农民之间的合资企业；更好地将树木的碳封存货币化；