BC Council of Forest Industries Releases New Report: “Building for the Future”

On Wednesday, the BC Council of Forest Industries (COFI) released a new report highlighting the vital role BC wood products play in ensuring the supply of cost-effective, climate-resilient building materials for affordable housing.

On April 10th, COFI brought together 100 industry, First Nations, and government leaders to discuss the BC wood products supply chain. Following this one-day workshop, COFI is releasing a new report, Building for the Future, that captures the views of workshop participants and offers recommendations for strengthening the competitiveness of the BC value chain.

The report outlines discussions focused on the supply chain for wood products, the factors influencing investment decisions, the potential of the mass timber market, and the barriers and advantages across the BC value chain—from forest floor to factory floor to living room floor. The report identifies several promising opportunities to help grow a healthy wood products supply chain that can provide low-carbon building materials for housing in BC and around the world.

The report outlines some of the following findings:

• Market interest and enthusiasm is growing for factory-based construction methods, including mass timber, among builders and wood products manufacturers alike.
• However, mass timber is still in the early stages of its growth, currently accounting for only 1% of the North American market for construction materials.
• Industry growth is the solution, but it must progress at a sustainable pace. Participants indicated they were watching for more non-government projects as a sign the market is maturing and becoming less risky.
• Predictable timber supply is a recurring theme, affecting investment decisions for many companies.
• Manufactured wood products, and mass timber in particular, have specific raw material and supply chain needs requiring an evolution of the wood products market ecosystem.
• There is more opportunity and greater need for industry and First Nations to work together; relationship building will be key to advancing new partnerships and business models.

The report makes recommendations across several themes:

• BC’s strategy of creating a market “pull” is working—keep it going.
• Create a predictable policy environment to reduce risk and encourage investment.
• Build relationships to help navigate supply chain complexity.

An executive summary is available here. The full report is available here.