News in timber

The US Commodity Futures Trading Commission (CFTC) proposed guidance for companies seeking to list voluntary carbon credits for trading, Reuters reported.

BC announced funding for 19 new projects through the Forest Enhancement Society of BC to reduce wildfire risk, lower greenhouse gas emissions, and provide recovered fiber to mills and bioenergy facilities.

Weyerhaeuser announced that it has entered into two distinct agreements with Forest Investment Associates to divest 69,600 acres in South Carolina for $170 million and to purchase 60,700 acres in North Carolina, South Carolina, and Mississippi for $163 million.

The Nova Scotia Forestry Innovation Trust is investing $9.85 million (CAD) in a new program to support businesses facing increased costs from adopting more sustainable forestry practices.

Attempts to wrap up Oregon’s Western State Forest Habitat Conservation Plan by officials are being met by stakeholders who are issuing new demands that could delay the plan into 2025, according to the Oregon Capital Chronicle.

Northwest Forest Link will begin exporting logs overseas to China out of Astoria, Oregon’s Pier 1 beginning in December, The Astorian reported.

Many states have already or are preparing to declare a state of emergency to deal with numerous wildfires that are consuming thousands of acres of forestland.

Wildfires dealt a blow of at least $71 million to the Louisiana’s timber sector, according to estimates from the LSU AgCenter reviewed by the Greater Baton Rouge Business Report.