The Forico Purpose states “we are the custodians of the natural environment and trusted to make the best use of natural resources for future generations.”
We take this responsibility seriously through a strong and ongoing commitment to sustainable management practices that “make every hectare count.” In 2016, we commenced a program of work supported by consultants the IDEEA Group to investigate the potential to use accounting-based approaches to recognise, record and value a broader set of environmental and ecosystem benefits from the land that we manage.
Natural Capital Accounting goes beyond the financial value of wood fibre production from plantations. There are numerous ecosystem services supported within the natural forest and plantation areas that we manage. We are currently in the process of developing accounts across the forest ecosystem for:
Implementation of this natural capital accounting approach will assist in integrated decision-making processes to ensure that every hectare really does count and we make the best use of natural resources for future generations.