Australia and New Zealand Launch Joint Forest Valuation Standard

Forestry Australia and the New Zealand Institute of Forestry (NZIF) have launched the Australia and New Zealand Forest Valuation Standard, marking a new benchmark for forest valuation across both countries.

The joint standard, developed over nearly a decade, consolidates existing country-level frameworks into a single document covering both plantation and native forests. It was created in consultation with forest professionals, researchers, and industry stakeholders across Australia and New Zealand.

The standard is intended to guide valuation practitioners, forest managers, investors, and reporting entities, reflecting current best practices and evolving market and sustainability expectations.

Alongside the release, Forestry Australia published an Australian Carbon Standard Exposure Draft to complement New Zealand’s existing carbon standard. The organization is also assessing implications of the Australian Accounting Standards Board’s climate-related disclosure requirements, with further discussion planned at a valuation summit in Melbourne later this month.

Commenting on the announcement, Forestry Australia President Dr Michelle Freeman said:

“The merging of the separate country-level standards held by Forestry Australia and New Zealand Institute of Forestry is a significant milestone. It reflects the strength and value of ongoing collaboration and partnership between our countries, our industries and professional organizations.

Importantly, while the ANZ Forest Valuation Standard is intended to address common interests of our national forest industries, it is flexible enough to allow for differences. The Standard will be an evolving tool to help shape the forest sector’s future and support continued innovation and improvement, as markets, reporting expectations, and sustainability considerations continue to evolve.”

NZIF President James Treadwell added:

“Our members have contributed voluntary time and expertise to forest valuation standards for more than three decades. The first New Zealand standard was developed in the 1990s and has been continually refined since then as markets, reporting expectations, and forest management practices have evolved. This joint Australia and New Zealand Forest Valuation Standard is an important step forward. It reflects the strong professional relationship between the New Zealand Institute of Forestry and Forestry Australia and provides a consistent framework which will strengthen valuation practice across both countries.”