Search Results (11)

Efficiently quantifying stand density is crucial in sustainably managing mid-rotation loblolly pine (Pinus taeda L.) plantations. While various stand density measures, including basal area (BA), stand density index (SDI), relative spacing (RS), and live crown length ratio (CR), are used, ambiguity persists among these measures: are they each biologically sound and are they on par with each other in terms of density management? These topics were investigated by examining the relationships between measures and stand age, between measures and tree growth, and between measures using data from numerous long-term permanent plots established in loblolly pine plantations in east Texas. A strong trend of increasing density with age was found for all the measures. The trend followed an asymptotic trajectory when density was expressed as BA, SDI, or RS, adhering to biological expectations, but the trend showed a gradual decrease for CR. Strong and biologically sound relationships between DBH periodic annual increment (${\mathrm{P}\mathrm{A}\mathrm{I}}_{\mathrm{D}}$) and BA or SDI were observed, suggesting that both measures match true DBH growth. However, ${\mathrm{P}\mathrm{A}\mathrm{I}}_{\mathrm{D}}$ linearly decreased with decreasing RS and with decreasing CR in a smooth curve, biasing from the biological expectation. Strong relationships existed between the measures, suggesting that these seemingly disparate measures are not independent of each other. Site index affected all investigated relationships in a manner of having higher densities at a given age or a greater ${\mathrm{P}\mathrm{A}\mathrm{I}}_{\mathrm{D}}$ at a given density for higher site index sites regardless of measures. The effects of initial planting density on the relationships were mostly negligible, having no practical significance, with few exceptions (the relationships of SDI–age, RS–age, and CR–RS). Among the measures evaluated, our results advocate for the use of $\mathrm{B}\mathrm{A}$ to regulate mid-rotation loblolly pine plantation density such as determining the approximate biological timing for thinning in the Western Gulf region due to its biological soundness, ease of measurement, and feasibility of incorporating effects of site quality and planting density. Full article

Are common stocks issued by timberland companies a good investment? Portfolios of large US timberland corporations are compared to simultaneous investments in a diversified US common stock index. Over a 20-year sample period it turns out that the US timberland corporations, on average, perform about as well as the highly diversified US stock market index. It is surprising that the timberland companies do not outperform the stock market indexes because, in order to encourage tree planting, the US Congress has almost completely exempted timberland companies from paying federal income taxes. Furthermore, it is scientifically impossible to assess the value of the large amounts of photosynthesis that the timberland companies produce. As a result of these two ambiguities, it is difficult to state decisively that the timberland companies are better investments than a diversified portfolio of common stocks. However, valuing timberland companies is more practical than endeavoring to value the trees directly. Full article

In 2020, a survey was conducted of timberland investment professionals. The focus of the survey was collecting and examining transaction cost data within the timberland investment space. The data collected were generally lacking in the public domain, as well as academic literature, yet it provides insight into the significant costs that are involved in timberland investing. The survey revealed that the U.S. South and the Pacific Northwest have significant differences in investor expectations for transaction costs. The objective of the current study was to explore the differences in transaction costs for the two regions and to uncover the relationships between (1) timberland transaction costs; (2) investment interest; and (3) prior experience in owning, investing, or managing timberland in either region. The findings of this work confirmed that transaction costs were a statistically significant predictor of investor interest in the U.S. South and the Pacific Northwest. The findings also showed that prior ownership, investment, or management experience in either region were a statistically significant predictor of investor interest in the U.S. South and the Pacific Northwest. Furthermore, this work explores factors that appear to rationalize the high investor interest in the Pacific Northwest, despite investor expectations of much higher transaction costs associated with timberland acquisition within this region. Full article

Land use change reflects fundamental transformations in society. To better understand factors contributing to current land use changes in Alabama, we expand on existing land use studies by employing a generalized least-square method nested in a system of equations for the analysis. We correct for endogeneity issues in our paper by incorporating a control function technique. Using repeated land use data from 1990–2018, we focus on analyzing factors affecting land use changes among timberland, agricultural, urban, and conservation land use types. Our results reveal that land quality factors influence land allocation and land use decisions. We also indicate that population density is a driver for replacing timberland for urban development and agricultural purposes. We show that interest rates are important factors in timberland use decisions as timberland investments are sensitive to capital cost. We provide a basis for future simulations of nationwide land use changes under different economic and policy scenarios, as we offer new insights and contribute to the existing knowledge into public policies that are related to land use planning and management. Full article

The capacity of forests to store carbon, combined with time-tested approaches to managing forests, make forests a useful tool for atmospheric carbon mitigation. The primary goals of this study are to determine the amount of unrealized mitigation available from Improved Forest Management (IFM) in the Acadian Forest of New England in the northeastern U.S., and to demonstrate how this mitigation can feasibly be attained. This study used the Forest Vegetation Simulator (FVS) to model the impacts of IFM practices articulated by the New England Forestry Foundation on carbon storage in the Acadian Forest. Our results, together with empirical data from well-managed forests, show that if the modeled improved management is employed on privately owned timberland across the Acadian Forest of New England, carbon storage could be increased by 488 Tg CO₂e. Our financial modeling shows that IFM could be funded in this region by combining income from carbon markets with the philanthropic funding of conservation easements, timber revenues, and capital investments from private investors who prioritize social and economic goals alongside financial returns. This study adds to the body of evidence from around the world that the potential for managed forests to contribute to climate change mitigation has not been fully realized. Full article

Forests owned by individuals and family landowners account for about two-thirds of Georgia’s private forests. This study provides a snapshot of the status and trend of forest management practices of Georgia family forest landowners and the unit costs associated with significant management activities through a survey of the consulting foresters practicing in the state. Family forest landowners increasingly managed pines intensively with various management regimes. Hardwood and mixed forests accounted for more than half of Georgia’s private forests, but they were mainly managed in a custodial manner. Besides receiving revenue from timber sales, many landowners in Georgia received additional income from hunting leases and selling pine straw. The results have important implications for the financial returns of timber investment and the long-term timber supply of the state. It also provides essential information to county assessors for fair and equitable timberland valuation for property tax purposes. Full article

While high-rise mass-timber construction is booming worldwide as a more sustainable alternative to mainstream cement and steel, in South America, there are still many gaps to overcome regarding sourcing, design, and environmental performance. The aim of this study was to assess the carbon emission footprint of using mass-timber products to build a mid-rise low-energy residential building in central Chile (CCL). The design presented at a solar decathlon contest in Santiago was assessed through lifecycle analysis (LCA) and compared to an equivalent mainstream concrete building. Greenhouse gas emissions, expressed as global warming potential (GWP), from cradle-to-usage over a 50-year life span, were lower for the timber design, with 131 kg CO₂ eq/m² of floor area (compared to 353 kg CO₂ eq/m²) and a biogenic carbon storage of 447 tons of CO₂ eq/m² based on sustainable forestry practices. From cradle-to-construction, the embodied emissions of the mass-timber building were 42% lower (101 kg CO₂ eq/m²) than those of the equivalent concrete building (167 kg CO₂ eq/m²). The embodied energy of the mass-timber building was 37% higher than that of its equivalent concrete building and its envelope design helped reduce space-conditioning emissions by as much as 83%, from 187 kg CO₂ eq/m² as estimated for the equivalent concrete building to 31 kg CO₂ eq/m² 50-yr. Overall, provided that further efforts are made to address residual energy end-uses and end-of-life waste management options, the use of mass-timber products offers a promising potential in CCL for delivering zero carbon residential multistory buildings. Full article

As the need to address climate change grows more urgent, policymakers, businesses, and others are seeking innovative approaches to remove carbon dioxide emissions from the atmosphere and decarbonize hard-to-abate sectors. Forests can play a role in reducing atmospheric carbon. However, there is disagreement over whether forests are most effective in reducing carbon emissions when left alone versus managed for sustainable harvesting and wood product production. Cross-laminated timber is at the forefront of the mass timber movement, which is enabling designers, engineers, and other stakeholders to build taller wood buildings. Several recent studies have shown that substituting mass timber for steel and concrete in mid-rise buildings can reduce the emissions associated with manufacturing, transporting, and installing building materials by 13%-26.5%. However, the prospect of increased utilization of wood products as a climate solution also raises questions about the impact of increased demand for wood on forest carbon stocks, on forest condition, and on the provision of the many other critical social and environmental benefits that healthy forests can provide. A holistic assessment of the total climate impact of forest product demand across product substitution, carbon storage in materials, current and future forest carbon stock, and forest area and condition is challenging, but it is important to understand the impact of increased mass timber utilization on forests and climate, and therefore also on which safeguards might be necessary to ensure positive outcomes. To thus assess the potential impacts, both positive and negative, of greater mass timber utilization on forests ecosystems and emissions associated with the built environment, The Nature Conservancy (TNC) initiated a global mass timber impact assessment (GMTIA), a five-part, highly collaborative research program focused on understanding the potential benefits and risks of increased demand for mass timber products on forests and identifying appropriate safeguards to ensure positive outcomes. Full article

The building industry currently consumes over a third of energy produced and emits 39% of greenhouse gases globally produced by human activities. The manufacturing of building materials and the construction of buildings make up 11% of those emissions within the sector. Whole-building life-cycle assessment is a holistic and scientific tool to assess multiple environmental impacts with internationally accepted inventory databases. A comparison of the building life-cycle assessment results would help to select materials and designs to reduce total environmental impacts at the early planning stage for architects and developers, and to revise the building code to improve environmental performance. The Nature Conservancy convened a group of researchers and policymakers from governments and non-profit organizations with expertise across wood product life-cycle assessment, forest carbon, and forest products market analysis to address emissions and energy consumption associated with mass timber building solutions. The study disclosed a series of detailed, comparative life-cycle assessments of pairs of buildings using both mass timber and conventional materials. The methodologies used in this study are clearly laid out in this paper for transparency and accountability. A plethora of data exists on the favorable environmental performance of wood as a building material and energy source, and many opportunities appear for research to improve on current practices. Full article

Manufacturing of building materials and construction of buildings make up 11% of the global greenhouse gas emission by sector. Mass timber construction has the potential to reduce greenhouse gas emissions by moving wood into buildings with designs that have traditionally been dominated by steel and concrete. The environmental impacts of mass timber buildings were compared against those of functionally equivalent conventional buildings. Three pairs of buildings were designed for the Pacific Northwest, Northeast and Southeast regions in the United States to conform to mass timber building types with 8, 12, or 18 stories. Conventional buildings constructed with concrete and steel were designed for comparisons with the mass timber buildings. Over all regions and building heights, the mass timber buildings exhibited a reduction in the embodied carbon varying between 22% and 50% compared to the concrete buildings. Embodied carbon per unit of area increased with building height as the quantity of concrete, metals, and other nonrenewable materials increased. Total embodied energy to produce, transport, and construct A1–A5 materials was higher in all mass timber buildings compared to equivalent concrete. Further research is needed to predict the long-term carbon emissions and carbon mitigation potential of mass timber buildings to conventional building materials. Full article

Understanding forestry practices cost is important for predicting the financial outcome of forest management activities. Assessing costs of practices that will be used in the future can be difficult and may result in over or underestimations of financial returns depending on the values used. We used historic real average rates of cost change for the southern United States to assess changes in the values of several loblolly pine plantation management scenarios over time through the use of discounted cash flow (DCF) analysis. Additionally, we analyzed the impact of certain practices cost changes on the financially optimal number of thinnings and rotation age. Findings indicated that declining costs for herbicide site preparation could all but offset the increasing costs of other practices and that a relatively slight increase in timber prices would more than compensate for increasing costs. Also, increasing thinning costs could exacerbate the effects of low sawtimber prices, further decreasing the viability of regimes with multiple thinnings. In the face of stagnant timber prices, the use of operator-select thinnings, and herbicide site preparation could stabilize the long-term financial value of plantation management. Full article