Page 16 - Georgia Forestry - Issue 4 - Fall 2024
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The Role of Georgia’s Forests in the
New Green Economy
While the traditional markets for timber and lumber are facing significant challenges, the growing green economy presents new opportunities. Matthew Stone, vice president of business development at Resource Wise, spoke at the 2024 Georgia Forestry Conference about the evolving role of carbon markets and how they could shape the future of Georgia’s forestry industry — emphasizing that Georgia’s forests are uniquely positioned to benefit from the global shift toward carbon neutrality.
“You are actually in the negative carbon game,” said Stone. “One of the important things that you need to do is trace and document the sustainability credentials of your supply chains and build that into your product offerings.”
Corporations are increasingly turning to forestry and forest products as vital com- ponents in their pursuit of net zero goals, recognizing the critical role that sustain- able forest management plays in carbon sequestration and reducing greenhouse gas emissions. These efforts have positioned forests as a key driver in achieving corpo- rate sustainability objectives and fostering a greener, more resilient future.
“We are moving from a world where the carbon potential of a sequestering product was worth effectively nothing to a world where the carbon value of that product is worth something,” said Stone.
Stone also discussed the potential of using residual forest products for biofuels, particularly Sustainable Aviation Fuel (SAF) and bioenergy. These emerging industries, which are expected to grow significantly in the coming years, could provide crucial new revenue streams for Georgia’s forestry sector.
“SAF offers a potentially high revenue stack,” said Stone. “We will need torrefied pellets of some description as a feedstock, and forest residue can play a big role in that.”
The shift toward a carbon-based econ- omy also aligns with broader global trends, such as the growing demand for sustain- ability from consumers and governments alike. Stone highlighted that companies like Google and Microsoft are now focused on carbon mitigation rather than offsets, increasing the pressure on industries to actively reduce carbon emissions rather than simply offset them.
“Carbon traceability is going to be critical in the future,” said Stone. “Consumers and governments want to know what they’re buying, and that traceability will be key to differentiating products in the market.”
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14 | GEORGIA FORESTRY
