We welcome Future Forests Research (FFR) and Solid Wood Innovation (SWI) - formerly WQI - which are both going to provide regular articles for Wood Matters. PF Olsen is a staunch supporter of well-managed and efficiently-delivered R&D. It is the only way to achieve sustainable competitive advantage. "If you don't innovate, somebody else will." FFR and SWI have agreed to provide a regular update of their programmes and findings with a view to giving Wood Matters' subscribers a glimpse of their research direction and outcomes and the value it can deliver for forest owners.

We don't have any new information for readers in the carbon forestry space at present. While there is uncertainty around the international response to climate change there is little enthusiasm to invest in new planting. New planting is needed for post-1989 forest owners to de-risk selling their existing credits. In the meantime we have completed processing post-1989 registrations and claiming 2008/09 NZUs and are now focussing on the pre-1990 allocation applications (the time line of which is expected very soon).

The "carbon market" in New Zealand remains very thin with few trades. The consensus "price" for NZUs remains at NZ$20/unit.