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8    MARKET BEATS                                                                 SEP/OCT 2024 FDM ASIA | www.fdmasia.com






         CIFOR-ICRAF                                                          August 13. “We can add jobs and tax
                                                                              base and position Georgia as a leader
                                                                              in the transition to a green economy.”
                                                                                 The Senate Advancing Forest

                                                                              Innovation in Georgia Study Committee
                                                                              was formed this year to look for ways
                                                                              the state can encourage investment in
                                                                              sustainable  forest  products  that  will
                                                                              generate demand in the future.
                                                                                 Senate President Pro Tempore John
                                                                              Kennedy, the committee’s chairman,
                                                                              said he saw one of those options on
                                                                              a state-sponsored trade mission to

                                                                              France last year: sustainable aviation
                                                                              fuel (SAF), a biofuel that can reduce
                                                                              greenhouse gas emissions up to 85
                                                                              percent compared with conventional
          region and the DRC to international   leading to fast-growing trees and a   petroleum-based jet fuel.
          markets. Set to take effect in 2028,   favourable climate have combined to   The European Union will require
          the ban aims to boost local processing.  make Georgia the number one forestry   commercial aircraft to burn at least 6

            The BEAC’s economic outlook,    state in the nation, a $42 billion industry   percent SAF by 2030, a percentage
          published quarterly, is a forward-  responsible for 143,000 jobs.   that will increase gradually each year
          looking document based on surveys    However, with pulp and paper mills   until it reaches 70 percent in 2050. One
          of business leaders, administrative   going out of business in large numbers   company active in Georgia, Lanzajet, is
          heads, and other key players in various   due to intense foreign competition,   already producing 120 million gallons of
          sectors within CEMAC. It provides   demand for timber is on the decline.   SAF per year, Andres Villegas, president
          predictions on economic activity for   As a result, prices for wood are down   and CEO of the Georgia Forestry
          the  upcoming  quarter  and  explains   to levels not seen since the 1970s.  Association, told the committee.
          the main influencing factors.        Those are the dynamics behind a   Another innovative use of wood in

                                            push to find new markets for Georgia’s   its infancy is mass timber construction
          Georgia aims to boost struggling   oversupply of wood in innovative clean   of either multi-family residential or office
          timber industry                   energy industries ranging from cleaner   buildings made with wood to replace
          Georgia lawmakers are looking for ways   aviation fuel to mass-timber building   more carbon-intensive materials like
          to boost the state’s struggling forest   construction to electric-vehicle batteries.  concrete and steel. The first commercial
          industry, Capitol Beat News Service   “Georgia is uniquely positioned,”   building in Georgia constructed with
          reported.                         Marshall Thomas, president of F&W   mass timber is at Atlanta’s Ponce City

            Georgia’s forestry industry is a victim   Forestry Services in Albany, told members   Market, made from southern yellow
          of its own success. Advanced genetics   of a state Senate study committee on   pine timber grown in rural Georgia.
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