Ms Bernie Gray:

I thank the Chair and the committee members for the invitation to today's meeting. We welcome the opportunity to discuss Coillte’s forestry strategic vision in more detail. Joining me are Imelda Hurley, CEO of Coillte; and Mark Carlin, managing director of Coillte Forest, who the committee has met before.

We will discuss the need to create new forests in Ireland and Coillte’s response to this challenge. We will also discuss our ambitions to balance and deliver the multiple benefits of forests for the environment, the Irish economy and the people of Ireland. I will keep my opening statement to the point, as I appreciate the importance of leaving as much time as possible for discussion. As the committee knows, Coillte is the largest forestry company in Ireland. It plays a key role in producing sustainably grown wood products, protecting and enhancing biodiversity, tackling climate change and contributing to a climate resilient economy. In light of recent concerns expressed about Coillte’s agreement with the Ireland Strategic Investment Fund and Gresham House, I would like to clarify why the Irish Strategic Forestry Fund was established, Coillte’s approach to afforestation and how Coillte will contribute to Ireland’s climate action plan.

When Coillte was before the committee in December 2022, it was unfortunately not possible to confirm details relating to the Irish Strategic Forestry Fund because it had not yet been finalised. There were third parties involved in the fund, who had not yet executed agreements. It was, therefore, not possible for Coillte to disclose details relating to the fund, other than to confirm that the initiative was at an advanced stage. My colleagues provided as much information as possible on the day. We always aim to answer the committee’s questions in an open and transparent manner and to the best of our ability, and we will do so today.

As we know, creating new forests is integral to the delivery of Ireland’s climate action targets. It has been well reported that the Government’s national afforestation target is to increase forest cover in Ireland from 11.6% to 18%. Achieving this target will necessitate the creation of 450,000 ha of new forests. It is an ambitious target, which will require a significant increase in planting. The current run rate of planting new forests in Ireland is approximately 2,000 ha per year and the country is currently targeting 8,000 ha per year to move towards achieving 18% forest cover. It is, therefore, crucial that all stakeholders in the forestry sector play a role in meeting Ireland’s afforestation targets. Farmers, as the largest landowners, will be at the centre of delivering this national afforestation target. However, given the scale of the challenge, private forestry companies and Coillte will also need to play a role.

In April 2022 we launched our forestry strategic vision. This vision is focused on delivering the multiple benefits from Coillte’s forests for the environment, nature, biodiversity and recreation, while continuing to deliver for the forest and wood products industry.

Against the backdrop of the current climate emergency, the programme for Government, and our shareholders' expectations that Coillte will get back into afforestation, creating new forests is a core part of our strategic vision. Our ambition is to enable the creation of 100,000 ha of new forests by 2050, half of which will be native woodland. For context, this equals approximately 20% of the Government’s national afforestation target.

Coillte's 100,000 ha target is a long-term target up to 2050, and will take many initiatives to deliver.