Economic impact of climate change on EU timber sector.
New research suggests that the EU timber sector could see land values fall dramatically (by up to 50%) as a result of shifts in species distribution in response to climate change. This could mean huge losses to the timber industry.
The study acknowledges substantial areas of uncertainty, for example, losses associated with the effects of climate change on the incidence and severity of droughts, as these are not included in this assessment. Nevertheless, the research provides an indication of the potential economic losses to the sector, and the need for measures that could counteract these losses.
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