sustainable forest management - Forestry Tasmania
sustainable forest management - Forestry Tasmania
sustainable forest management - Forestry Tasmania
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Forest estate value<br />
Through <strong>sustainable</strong> <strong>forest</strong> <strong>management</strong>, and development<br />
of the <strong>forest</strong> estate, <strong>Forestry</strong> <strong>Tasmania</strong> aims to maintain<br />
and enhance the capital value of state <strong>forest</strong> assets<br />
while deriving economic value from the ‘interest’ or<br />
growth component. <strong>Forestry</strong> <strong>Tasmania</strong> complies with<br />
the Australian Accounting Standard AASB 1037 - Self-<br />
Generating and Regenerating Assets for its <strong>forest</strong> valuation<br />
and AASB 1041 - Revaluation of Non-current Assets for<br />
other assets, where applicable.<br />
This value can fluctuate dramatically due to changes in the<br />
variables used in the valuation model.<br />
In 2007/08 the principal causes of the decrease in the value<br />
of the biological asset were due to:<br />
Value ($ million)<br />
Figure 35. Forest estate value summary<br />
800<br />
700<br />
600<br />
500<br />
400<br />
300<br />
200<br />
•<br />
•<br />
•<br />
Change in the discount rate caused by external factors<br />
i.e. changes to the 10 year bond rate.<br />
The three-year average stumpage price for native<br />
<strong>forest</strong> pulpwood. (Based on years 2004 - 2007. The<br />
price has since rebounded.)<br />
The woodflows included in the 2007 Wood Review<br />
indicates substantial increased volumes but they will<br />
be available later than previously predicted.<br />
100<br />
0<br />
2002/03 2003/04 2004/05 2005/06 2006/07 2007/08<br />
Standing timber wholly owned<br />
Standing timber joint ventures<br />
Forest land<br />
Roads and structures<br />
Tourist infrastructure<br />
•<br />
Increased <strong>forest</strong> <strong>management</strong> costs associated with<br />
pest control and pruning of the plantation estate.<br />
47