Timberland investors are used to predictable stable cashflows. But 2022 has introduced significant volatility into the asset class. Not surprisingly, driving this volatility on the supply side are heightened energy, fertiliser and transport costs. And as a recession takes hold, softening demand may further impact cash returns.

Nevertheless, timberland remains high on the agenda with specific institutional investors. The shift in portfolios towards sustainable products, and the long term structural trends of renewable energy and net zero portfolios are keeping the traffic on timber research papers inside RFPnetworks high.