World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Forest Product Research Multiplies Investment

Forest Product Research Multiplies Investment

Australia’s forest and wood products industry has benefited by as much as $150 million from research and development carried out between 1994 and 2000.

Forestry and Conservation Minister Senator Ian Macdonald will today launch a report into timber and wood development projects that finds every research dollar spent returned at least $7 in economic, environmental and social benefits.

Senator Macdonald said the report Investing in Innovation — released by the Forests and Wood Products Research & Development Corporation (FWPRDC) — demonstrates the importance of research in providing a sustainable timber industry.

“Central to the future of the timber and wood industry will be the capacity to get greater value from raw materials through more efficient processes and value-adding products,” he said.

“This report has shown that investment in research and development is a key platform on which the extra value will be built.”

The report follows an independent impact analysis by Brisbane based Agtrans Research, which examined 35 R&D projects out of a total of 79 completed by the FWPRDC over the six-year period.

The randomly selected projects — each with total funding of more than $30,000 — were assessed in terms of meeting objectives, achieving outcomes and providing benefits, both to the forest and wood products industry and the wider community.

Senator Macdonald said a full cost-benefit analysis, revealed the net present value of the sample projects to be $258 million, with a benefit-cost ratio of seven to one. Total funding for all 79 projects was approximately $21 million ($9.3 million FWPRDC, plus external funding).

“The benefits from this investment are likely to be as much as $150 million in improvements to sustainable timber growing, processing and product development,” Senator Macdonald said.

In addition to the economic benefits, 13 of the projects demonstrated environmental benefits and six demonstrated social benefits.


© Scoop Media

 
 
 
World Headlines

 

COP24: Rapid Action Urged At Climate Change Conference

Following a year of devastating climate disasters around the globe, from California to Kerala, and Tonga to Japan, the annual UN Climate Change Conference opens with the goal of finalising the implementation guidelines for the Paris Climate Change Agreement. More>>

ALSO:

New Report: Refugees In PNG Being Pushed To The Brink

Refugee Council of Australia and Amnesty International paint a stark picture of a traumatised refugee population hit hard by Australia's recent healthcare and counselling service cuts, as well as continued threats to their safety. More>>

ALSO:

Jamal Khashoggi: UK, France, Germany Join Calls For Credible Investigation

Germany, the United Kingdom and France share the grave concern expressed by others including HRVP Mogherini and UNSG Guterres, and are treating this incident with the utmost seriousness. More>>

ALSO:

MSF Not Wanted: Nauru Government Shows Continued Callousness

The Nauruan Government’s decision to ask Doctors Without Borders to immediately leave shows continued callousness towards asylum seekers desperately seeking a safe place to call home, Green MP Golriz Ghahraman said today. More>>

ALSO: