Report on forestry in Leitrim confirms huge local benefits

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Report on forestry in Leitrim confirms huge local benefits
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A report commissioned by Minister Andrew Doyle into the socio economic impacts of forestry on the county. The full report can be downloaded here, but some of the most salient points, as highlighted by UCD’s Dr Áine Ní Dhubháin and her associates are: 1. The agricultural land use in County Leitrim is primarily grassland which is found on poorly drained soils of low fertility. Many of farms in the county are likely to include High Nature Value (HNV) farmland.

Кожна людина має власний ритм навчання, уподобання і цілі — для когось важлива бізнес-лексика, а для когось актуальніша мова подорожей. Саме тому стандартні групові заняття не завжди дають бажаний результат. Альтернативою є індивідуальні уроки англійської, що адаптуються під конкретні потреби учня. Такий підхід дозволяє викладачу гнучко змінювати темп, акценти та методи залежно від прогресу. Крім того, персональний формат сприяє глибшому опрацюванню складних тем, зменшенню стресу та формуванню довіри між учнем і викладачем. Це особливо корисно для тих, хто хоче досягти результату у стислі терміни або готується до конкретної події, наприклад, співбесіди чи іспиту.

 

  1. The percentage forest cover in Co. Leitrim in 2017 was 18.9%. This is the highest percentage forest cover among all counties and is substantially higher than the national level of 11.0%. Sitka spruce is the dominant species in the forests in the county, accounting for 61.3% of the total forest area. This is higher than the national figure of 51.0%. Native species account for 30.7% of the forest area in the county.
  2. The growth rates of trees in the county are high; for Sitka spruce in private stands growth rates are estimated to be 20% higher than the average in private stands nationally.
  3. One of the main aims of Government policy with respect to forestry is to expand the percentage forest cover in the entire country. It is currently 11% and the aim is to reach 18% nationally by the year 2046. Incentives in the form of establishment grants and annual premiums have been available to landowners since 1990 and higher premium payments have traditionally been available to farmers to encourage greater rates of farmer participation in afforestation. This situation changed in 2014, when farmers and non-farmers were deemed eligible for the same rate of premium payment for the first time.
  4. An earlier study of forestry and land use in Co. Leitrim, the Leitrim Resource study, conducted in the 1970s, identified the potential of the land in the county for forestry. It also identified a very strong resistance amongst farmers in the county to selling land for afforestation. At the time afforestation was almost exclusively carried out by the State.
  5. To find out more about the owners of forests in Co. Leitrim, a survey of a sample of owners was conducted as part of this study. The main findings are:  **Just over two-thirds of owners of forests in Co. Leitrim had planted forests on their own land;  Twenty-six percent were investors (i.e. they bought land/forest purposely for investment);  Five percent had inherited their forest;  Just over 30% of the forest owners were not resident in Co. Leitrim (half of these were from neighbouring counties);  The average size of an individual forest plot was 6.92 hectares. Forty percent had planted more than one plot. The average total area planted per owner was 14.0 hectares.  Seventy-five percent of owners were farmers (full-time, part-time and retired). **
  6. The social impacts of forestry were addressed using qualitative research methods. The aim was not to achieve a demographically balanced and representative sample of the opinions of the population of Co. Leitrim, but instead to understand the range of opinions held by people regarding forestry in the county. The main source of the information came from interviews held with 23 interviewees who were selected purposively to capture a range of opinions. Information from a survey of forest owners and voluntary written submissions provided additional information. The issues that emerged from the interviews were later grouped into themes. The major themes include those relating to forestry as a land use, forestry’s role in the community, and forest policy. A strong divergence of opinion was noted for most of the themes.
  7. The economic impact of forestry for Co. Leitrim (and the associated employment) was assessed. A base year of 2017 was chosen. The analysis estimated that a total of 50.3 full-time equivalent (FTE) jobs were generated for Leitrim residents as a result of forestry activity in the county in that year; a further 25.0 FTE jobs were generated for non-Leitrim residents. An additional 76.0 Co. Leitrim residents had employment in forestry outside of the county. Thus a total of 151.3 FTE jobs were generated as a result of forestry activity in Co. Leitrim in 2017. Wood processing in the county generated a further 158.0 full-time equivalents, half of whom were residents of Co. Leitrim. Thus,** in total 309.3 FTE jobs were associated with forestry/wood processing in Co. Leitrim in 2017.**
  8. An estimate of the direct economic activity associated with forestry in Co. Leitrim in 2017 is €15.0 million. The economic activity associated with wood processing is €11.5 million in 2017, giving a **total of €26.5 million economic activity associated with forestry/wood processing in 2017 in Co. Leitrim. **
  9. A comparative assessment of the relativity of forestry and farm incomes was undertaken, using a micro-simulation modelling approach and discounted cashflow analysis. Based on this approach, the estimated overall percentage of farms in Co. Leitrim where the return from forestry (on a per hectare basis) would be higher than that from agriculture is 67%.

11. The total carbon stock in Co. Leitrim forests is estimated to be 12,606,000 tonnes.

  1. Several Coillte-owned, recreation forests are located in Co. Leitrim, but visitor numbers to these are not available. Private forests are generally not available for public recreation. Our survey of forest owners indicated that some used their forests for recreation. A small percentage (16%) said they allowed others to recreate in their forests.
  2. Available data on the biodiversity associated with forestry in Co. Leitrim is limited. The forest owners surveyed indicated that the following tree species were found in their forests: alder, ash, birch, oak, rowan, sycamore, beech, larch, Sitka spruce, Norway spruce, lodgepole pine, western red cedar, “cypress” and Douglas fir. Sitka spruce was by far the dominant species. The survey of forest owners also provided some information about the fauna within private forests. Forest owners reported sighting a variety of animal and bird species in their forest, most commonly rabbit/hares, badgers and pine martens.
  3. Forests can have negative and positive effects on water quality. Water monitoring data from Co. Leitrim indicated that 36 water bodies have been identified as being at risk of not meeting their Water Framework Directive (WFD) status objectives. The most significant pressure leading to this “at risk” status is agriculture, accounting for 42.9% of the at-risk water bodies. Hydromorphology (16.3%), forestry (14.3%), invasive species (8.2%), anthropogenic pressures (6.1%), industry (4.1%), urban waste water (4.1%), urban run-off (2%) and extractive industries (2%) are also identified as significant pressures. Within the WFD, some water bodies are classified as having a high ecological status. Of the eight high status objective waterbodies in Co. Leitrim four are at risk and four are not at risk. Agriculture has been defined as the sole significant pressure for two of the sites, with peat (extractive industry) identified along with agriculture for another waterbody. The fourth waterbody has hydromorphology listed as a sole significant pressure. Hydromorphology includes sediment/drainage issues and thus may be a pressure as a result of forestry land use.
  4. Since 1989, a condition for receipt of grant-aid for afforestation has been the compatibility of forestry development with the protection of the environment. Guidelines, which are now Regulations, were introduced in 1992 and were further expanded and replaced by Environmental Regulations with respect to Afforestation in 2016. The Regulations are extensive, but a key element is setbacks (or buffers in earlier versions). From 1992, forests had to be set back from public roads, houses, rivers and archaeological features. Setback distances have been expanded a number of times.
  5. Since 2000, the issuing of felling licences was accompanied by the condition that the felling and planting that took place should be in accordance with the Guidelines that applied at the time. This implies that second (or more) rotation forests established since 2000 should have complied with the setback (buffer) distances specified in the guidelines at that time.
  6. Inspections are carried out by Forest Service District Inspectors (DIs) to ensure compliance with regulations. All applications for afforestation licences are desk assessed by DIs. An estimated 61% of afforestation sites were visited in 2018 in advance of an afforestation licence being issued; a similar percentage was field inspected after stand establishment in that year and a slightly higher percentage, i.e. 67%, was field inspected before the final grant payment was made. Inspection rates for forests in Co. Leitrim are similar to these national rates. Field inspection rates for felling licences are much lower; nationally, 19% of all applications for felling licences in 2018 were field inspected by DIs. Inspection rates for felling licences in Co. Leitrim were lower than the average. The county has the second highest number of applications for felling licences.
  7. Since the Forestry Appeals Committee (FAC) was established in 2018, a total of 189 appeals have been submitted to it, 25% of these relate to Co. Leitrim. All bar one were third party appeals. With respect to afforestation appeals that have been heard to date, the decision in the majority of cases has been to uphold the decision of the Minister to grant the afforestation licence. For almost one third of the appeals, the FAC varied the conditions of the licence. Of the four decisions to date to cancel the granting of licences, one of these was a successful appeal made by an applicant against a decision not to grant an afforestation licence.

Коли потрібно швидко підвищити рівень англійської до прийнятного рівня — для поїздки, роботи або термінового проєкту — класичні програми часто не підходять. У таких ситуаціях оптимальним рішенням є інтенсивний курс англійської, розрахований на короткий проміжок часу. Заняття відбуваються регулярно, з високою частотою, і охоплюють ключові аспекти: граматику, розмовну практику, лексику. Такий формат дозволяє зануритися в мову повністю, що сприяє кращому запам’ятовуванню та впевненості в спілкуванні. Програма підходить як для новачків, так і для тих, хто хоче швидко відновити навички після перерви. Головне — мотивація та готовність працювати інтенсивно протягом визначеного періоду.

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Report on forestry in Leitrim confirms huge local benefits
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A report commissioned by Minister Andrew Doyle into the socio economic impacts of forestry on the county. The full report can be downloaded here, but some of the most salient points, as highlighted by...

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Can't see the wood for the trees?

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Can't see the wood for the trees?
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As the fallout from the sale of the Irish Forestry funds to AXA IM continues, the damage being caused by reckless commentary from the vendors of that fund is highly frustrating and downright unacceptable. The person quoted in the articles has seen fit to strike a blow to the very heart of the industry, in what appears to be a vain attempt to rescue their own reputation.

Звонки от операторов могут быть неудобны — особенно если заявка подаётся ночью или человек не хочет обсуждать детали с третьими лицами. В таких ситуациях важно сохранить приватность и тишину. Лучшим вариантом становится кредит без звонков на карту, который предоставляется без участия кол-центра. После отправки заявки всё происходит автоматически, а решение принимается без проверки по телефону. Деньги поступают на карту быстро и без вмешательства сотрудников. Это удобно тем, кто хочет получить кредит тихо, без объяснений и лишнего внимания.

Green Belt have been the pioneers in Irish forestry since 1982, with all others in the private estate following. While there are very good foresters and companies across the industry, and the private estate being in a position to thrive, such broad, overwhelmingly destructive comments damage the hard work and integrity of those in the industry.

We will not make comment on the activities of the IFS fund managers but would like to address the concerns some may have about investing into Irish forestry and those who might be considering our FACT initiative - www.fact.ie

FACT 1 - FACT is a limited company owned by the shareholders; FACT 2 - Any decisions around the sale of the initiative would need to be rubber stamped by at least 67% of shareholders; FACT 3 - FACT will acquire semi mature forestry across Ireland; FACT 4 - These forests will undergo rigorous due diligence; FACT 5 - the management fee's are set out from the beginning and are mainly activity based; FACT 6 - All folios and maps are open for viewing and confirmation; FACT 7 - Returns are realistically targeting 5% per annum compounding over the 10 year term.

Forestry in Ireland plays an extremely important role in rural communities and provides excellent social, environmental and economic opportunities to the country as a whole. Regardless of your opinions of particular species, the reality is that Ireland is failing badly to reach its climate change targets and one of the best ways to address this is to plant forests and manage forestry sustainably, now and into the future.

Онлайн-фінансування вже давно перестало бути новинкою — воно стало частиною повсякденного життя. Особливо це актуально для тих, хто цінує свій час і не готовий миритися з банківською бюрократією. Кредит онлайн на карту — це простий, швидкий і доступний інструмент, який вирішує питання нестачі коштів у кілька кліків. Завдяки автоматизованому алгоритму сервіс оцінює заявку без участі менеджера, а гроші надходять на карту вже за 10–20 хвилин. Такий формат особливо зручний у непередбачуваних ситуаціях, коли час має значення. Платформа Wallecredit дозволяє скористатися послугою без дзвінків, без черг і без необхідності пояснювати, навіщо потрібні гроші. Це повна конфіденційність, контроль і свобода у вирішенні власних фінансових справ.

So, for those exploring forestry for the first time, do not be put off by the bad news stories you are reading. Take time to find the company or partner that works best with you.

We look forward to meeting you.

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Can't see the wood for the trees?
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As the fallout from the sale of the Irish Forestry funds to AXA IM continues, the damage being caused by reckless commentary from the vendors of that fund is highly frustrating and downright unaccepta...

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Agroforestry - an option to consider

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Agroforestry - Improve your farm score
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Agroforestry offers landowners an opportunity to plant trees on their land, receive an annual tax free premium and still farm the land.

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Establishing 400 to 1,000 tree's per hectare still allows you to graze the fields, harvest the grass and provide shelter for animals. The annual premium of €975 per hectare is payable is for 10 years for both farmers and non-farmers.

Green Belt is a national expert in delivering agroforestry projects. Our professional foresters work closely with you to design the right set up on your farm. We complete the necessary paperwork and administrative tasks to acquire an approval from the forest service.

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The layout is  complete with double stakes and tree guards to protect the plants. over time, they will be managed to create an attractive landscape on your lands that helps manage your environmental commitments.

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Agroforestry - an option to consider
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Agroforestry offers landowners an opportunity to plant trees on their land, receive an annual tax free premium and still farm the land.

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Recently sold Irish Forestry Funds

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Recently sold Irish Forestry Funds
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In recent weeks newspapers have made comment on the sale of Irish Forestry funds to AXA IM. The commentary around this has been negative and, we feel, adversely affecting the very important forestry industry in Ireland.

Green Belt would like to address some of those elements in the articles which presented an overly negative view of the market and longer term future of the forestry industry.

Поиск кредита может быть связан с чувством неопределённости. Люди боятся отказа, особенно если у них нет официального трудоустройства, есть просрочки или нестандартная кредитная история. Однако современный рынок микрофинансов предлагает альтернативы, где упор делается не на формальностях, а на доступности. Одним из таких решений является 100% одобрение кредита без отказа, что делает возможным получение средств практически для любого гражданина. Это работает благодаря автоматическим скоринговым системам, которые оценивают базовые параметры, а не только банковскую историю. Даже если в прошлом были проблемы, здесь шанс получить деньги остаётся высоким. Деньги поступают на карту в течение нескольких минут после подтверждения условий. Услуга особенно актуальна в экстренных ситуациях — когда нет времени на переговоры, а сумма нужна здесь и сейчас.

Timber is a global commodity and traded internationally. As such, global political and environmental issues can affect the pricing of timber in Ireland. In Germany and Austria there have been attacks by a Pine Beetle that have damaged larges swathes of the countries forestry. This has been due to the drier summers and less cold winters (no widescale frost to kill off these and other pests). As a result, there are larger than normal volumes of timber on the European market and this has resulted in a softening of timber prices. The threat of a pestilence to Ireland's forestry is constant and one we have some protection with our island status and stringent phytosanitary border controls. However, there is no guarantee the beetle won't invade our shores, but this risk is limited. The increase in new housing development in Ireland has seen less Irish timber exported versus other years, as the indigenous demand has increased. With Brexit on the horizon and a potential recession, there are fears this price will dampen even further. Our opinion, based on market research and expert analysis, suggests that the ever increasing demand for timber from the UK markets (2nd largest importer of timber in the World) and the lack of tariff on timber imports into the UK, should keep the prices relatively strong into that region. The home market should also remain buoyant and the development of new export markets as well as other and more varied uses for the timber develop.

There is one major fact that remains true - timber is best stored.....on the stump - i.e. if prices are low, timber will still grow and add value.

We are very proud of our forestry industry and work tirelessly to ensure it continues to thrive, develop and expand. We look forward to bringing you on that journey too.

В некоторых ситуациях необходимо найти способ получить деньги быстро и без лишних сложностей. Именно тогда на помощь приходят онлайн-сервисы, которые предлагают оформить кредит без звонков. Это удобное решение для тех, кто не хочет тратить время на ожидание одобрения и общение с операторами. Простая заявка, минимальный набор документов и прозрачные условия делают такой вариант особенно популярным. Кроме того, возможность получить деньги круглосуточно добавляет этому предложению дополнительное преимущество. Дополнительно стоит отметить, что такие сервисы идеально подходят для людей, которые ценят своё время и хотят избежать лишних формальностей.

We work closely with all our clients - institutions, private land owners, private investors, farmers - to guide them through the acquisition, establishment, management and harvesting of their forestry asset. All fees are action based and terms agreed at the outset of the relationship.

Green Belt offers investment into private forestry through numerous vehicles and most recently an initiative named FACT (www.fact.ie). This has been established as a limited company, with a full set of management fee's and operations costs outlined. Our intention with FACT and our other investments, is to consolidate the private estate and return as much value to all stakeholders as possible - for Green Belt, this entails developing a long term, value adding relationship enhanced by the scale of our client base, management and operations.

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Recently sold Irish Forestry Funds
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In recent weeks newspapers have made comment on the sale of Irish Forestry funds to AXA IM. The commentary around this has been negative and, we feel, adversely affecting the very important forestry i...

Teagasc Talking Timber - Tax Advice

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Teagasc Talking Timber - Tax Advice
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At recent 'Talking Timber' events hosted by Teagasc, tax consultants spoke about the tax treatment around forestry - sales of forestry and timber.

Here is the link to those videos.

Неможливо передбачити всі витрати, навіть якщо бюджет розписаний до копійки. Техніка ламається, здоров’я підводить, рахунки зростають — а доступу до фінансової подушки, як завжди, немає. У таких обставинах немає часу чекати на довгі перевірки чи проходити бюрократичні кола. Саме тут особливу цінність має кредит з миттєвим рішенням, який дозволяє отримати гроші на карту вже через кілька хвилин після подання заявки. Це означає, що у надзвичайній ситуації не потрібно нервувати — рішення ухвалюється автоматично, без дзвінків і очікування. Такий сервіс стає порятунком у моменти, коли діяти треба зараз: ніч, вихідний чи відрядження. Він дає змогу зберегти гідність, не позичати в знайомих і не пояснювати причини. Мінімум даних, швидке підтвердження і прозорі умови без прихованих комісій — ось чому цей формат дедалі більше користується попитом серед тих, хто живе в ритмі реального життя. Замість зайвих питань — конкретний результат.

When you decide your route into forestry establishment or investment, please let us know and we will guide you through the process every step of the way.

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Teagasc Talking Timber - Tax Advice
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At recent 'Talking Timber' events hosted by Teagasc, tax consultants spoke about the tax treatment around forestry - sales of forestry and timber.

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poplar_and_hardwoods_image.jpeg

Yield hunting in risky assets is dangerous

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Yield hunting in risky assets is dangerous
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In an article published by the FT (below), there are really interesting comments and projections affecting institutional investment decisions. These decisions are the basis for private investment (in my opinion) and the recommendations from some of the experts quoted below really point to diversity, security and less risk exposure. Hardly surprising we thought of forestry immediately. If you haven’t already thought of Forestry investment, then please check www.fact.ie or the document attached. Article with thanks to Chris Flood from the FT

Кредит з мінімальним відсотком дозволяє зменшити загальну суму переплати, що робить його оптимальним варіантом для довгострокових чи короткострокових позик. Це особливо корисно для клієнтів, які планують великі покупки або потребують коштів для невідкладних витрат. Такі кредити часто доступні онлайн, де можна швидко подати заявку та отримати схвалення протягом кількох годин. Кредит з мінімальним відсотком зазвичай пропонується для клієнтів із гарною кредитною історією або в рамках акційних програм для нових позичальників. Це дозволяє суттєво заощадити на виплатах і водночас отримати необхідні кошти без зайвих труднощів. Перед підписанням угоди варто детально ознайомитися з умовами

A quarter of the bonds issued by governments and companies worldwide are currently trading at negative yields — which means that $14tn of outstanding debt is being paid for by creditors in a bizarre reversal of normal practice.

Negative yields have forced long-term institutional investors, such as pension schemes and insurance companies, to make unprecedented changes to their asset allocation mix because sovereign bonds can no longer deliver the returns needed to meet the promises made to retirement savers.

Negative bond yields are a direct result of the vast asset purchase schemes introduced by central banks to stave off a worldwide economic slump after the financial crisis.

Quantitative easing programmes were intended as emergency measures that would be withdrawn once it was clear that a sustainable economic recovery had begun.

But with the trade war between the US and China slowly suffocating global economic growth, central banks have embarked on a fresh round of liquidity measures to try to prevent a recession.

© (FT) The Federal Reserve cut US interest rates on Wednesday for the first time in more than a decade, a change that the European Central Bank is expected to follow next month.

Speculation is also building that the ECB will restart its bond-buying programme before the end of the year to try to stimulate economic growth in a moribund eurozone.

As a result, the challenges presented by negative bond yields are set to intensify.

Torsten Slok, chief US economist at Deutsche Bank, says interest rate cuts by the Fed and moves to ease monetary conditions in Europe, China and Japan will drive pension funds and insurance companies to hunt for better yields in riskier assets.

This could be a dangerous course of action, he warns.

Many pension funds and insurance companies increased their holdings of corporate credit, equities and structured products, as well as alternatives including private equity and real estate, after the 2007-08 financial crisis.

Mr Slok fears that some of these investors have been lulled into a false sense of security as reductions in US Treasury yields over the past decade were accompanied by strong gains for equities and a tightening in the spread (gap) between yields on corporate bonds and government debt.

“This correlation only worked because the US economy did not fall into a recession. But if interest rates are going down because there is likely to be a sharp slowdown in global economic activity or even a recession, then it does not make sense for pension funds to buy more risky assets,” he says.

Torsten Slok warns against the false sense of security some pension funds and insurers have fallen into previously The Fed’s monetary policy shift has led to an inversion in the US yield curve (where short-term interest rates are lower than long-term rates), a historical warning sign that the economy could move into recession.

“The Fed will have to quickly resort to unconventional monetary policy, notably QE, if the economic outlook turns sour,” says Silvia Dall’Angelo, senior economist at Hermes, the London investment manager.

Worries that a recession is looming are widely shared by investors. A poll of more than 400 clients conducted by Barclays in June found that half thought a global recession would start before the end of next year. The other half did not expect it until 2021 or later.

Rick Rieder, global chief investment officer of fixed income at BlackRock, says that although a US recession over the next couple of years is possible, the Fed could respond by cutting interest rates to zero and reigniting QE.

Mr Rieder says it is “difficult to see a change” in the established trend for pension funds and insurance companies to take on more credit risk and to increase their exposures to alternatives, given the shift by the Fed, ECB and central bankers in emerging markets to relax monetary policy to support economic growth.

QE programmes and a decade of ultra-low interest rates have inflated stock markets worldwide. The S&P 500, the main US equity benchmark, hit an all-time high in late July, up 347 per cent from its post-crisis nadir in March 2009.

Strong gains for stock markets over the past decade have helped many US pension schemes to narrow the funding gaps between assets and liabilities.

Mr Rieder says many US pension funds would like to buy more bonds to extinguish their liability stream but this has become difficult because of low interest rates.

“Pension funds can’t match their liabilities with where rates are today so they have to hope that equity markets will continue to rally,” he says.

At the same time, US companies are deleveraging, which has shrunk the supply of new corporate debt, leading to a dearth of investment-grade issuance. Net supply from municipal borrowers, another vital source of new issuance, has also turned negative so there is not enough available for pension funds and insurers to buy.

© (FT) US 10-year Treasury yields have dropped from 3.24 per cent in early November 2018 to 1.88 per cent following the Fed’s rate cut.

These reductions in US interest rates will increase the funding gaps faced by many US public pension plans.

Greg Tell, head of fixed income specialists at JPMorgan Asset Management, says pension schemes can counter these problems by increasing their holdings in high quality, long-duration bonds that tend to do well when interest rates fall and growth slows.

Such bonds include US Treasury STRIPs, investment-grade bonds issued by non-cyclical companies, along with high-quality credits including commercial mortgage-backed securities issued by government-supported agencies such as Freddie Mac and Fannie Mae.

Life insurance companies with long-dated liabilities can pick similar high-quality bonds that tend to do well in an economic slowdown along with short-dated securitised consumer credit as the US consumer sector has benefited significantly from low interest rates, says Mr Tell.

The Bank of England could also be forced to cut interest rates to support the UK economy in the event of a no-deal Brexit.

Steve Turner, a partner at Mercer, the investment consultant, says declines in 10-year gilt yields, which have fallen from 1.7 per cent in late September 2018 to just 0.55 per cent, have led to a deterioration in the funding position of pension schemes, depending on their level of liability hedging.

He warns that corporate pension schemes that do not already have robust hedges (protection plans) against unexpected changes in interest rates and inflation should consider increasing gilt holdings before yields possibly fall further. A fresh drop would create bigger deficit problems at a time when cash flows at their parent companies are under pressure because of the slowdown in the global economy and the uncertainty over Brexit.

“I am encouraging defined benefit corporate pension clients that do not have high hedge ratios — at least 80 per cent of their funded liabilities — to maximise the level of hedging that they can afford to do before yields fall further. Trustees should think about protecting funding positions as many parent companies are already trying to minimise how much they pay into their pension schemes, preferring to invest in technology, research and development to strengthen their businesses,” he says.

Bonds account for more than half (54 per cent on average) of the assets held by UK pension schemes, according to Mercer’s 2019 European asset allocation survey. Hedging ratios vary widely by scheme but just over half of the 876 European pension plans surveyed by Mercer have hedging ratios of 80 per cent or more in place this year.

У сучасному світі фінансова мобільність набуває особливого значення. Багатьом доводиться вирішувати термінові питання, не маючи часу на очікування або складні банківські процедури. Саме тому мікрозайм онлайн став ефективним інструментом для тих, хто потребує коштів негайно. Це рішення підходить як для оплати комунальних послуг, так і для купівлі ліків або покриття тимчасових витрат. Оформлення займає лише кілька хвилин, не вимагає особистої присутності чи купи документів. Кошти надходять безпосередньо на картку, а гнучкий графік повернення дозволяє уникати зайвого навантаження на бюджет. Надійні платформи забезпечують безпеку даних, чіткість умов і лояльний підхід до кожного клієнта, що робить сервіс максимально зручним для щоденного користування.

Jos Vermeulen, head of solution design at Insight Investment, says most UK DB pension schemes are well funded, unlike five years ago. Increases in hedge ratios should also offset any further downwards shifts in interest rates.

“Movements in interest rates have less of an impact now on the funding position of DB funds in the UK,” says Mr Vermeulen.

Central banks look determined to prolong QE’s sugar rush to financial markets but that can only mean that the $14tn headache caused by negative rates for pension funds and insurance companies will remain unresolved for the foreseeable future.

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Yield hunting in risky assets is dangerous
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In an article published by the FT (below), there are really interesting comments and projections affecting institutional investment decisions. These decisions are the basis for private investment (in ...

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Minister Bruton & DCCAE announce launch of SSRH

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Minister Bruton & DCCAE announce launch of SSRH
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In very welcome news this morning, Minister Bruton has announced that the SSRH scheme has officially been opened to accept applications as of today. This is particularly good for those looking to set up facilities of up to 2 MB as the supports are best suited to those facilities. The positive news for forest owners and those interested in timber supply, is that there is now the potential for better returns on the lower margin elements of your forest products. If your forest is in an area restricted to market access by distance, it is possible you may have a biomass facility establish close to you and thus improve the revenue from thinning operations in particular (where the main volume extracted is pulp). Thius might also facilitate earlier thinning and thus improve the returns due to a shorter rotation.

Многие финансовые учреждения требуют от заемщиков множество документов, включая справки о доходах. Однако существуют варианты, которые позволяют избежать подобных сложностей. Один из таких вариантов — кредит без подтверждения дохода, который доступен людям с любым уровнем заработка и без необходимости предоставлять официальные справки. Оформление заявки проходит онлайн, что значительно упрощает процесс. Клиенту нужно лишь указать основные данные, такие как паспортные сведения и номер банковской карты. После автоматической проверки система одобряет запрос, и деньги зачисляются на карту в течение нескольких минут. Такой кредит идеально подходит для тех, кто сталкивается с временными финансовыми трудностями и не имеет возможности документально подтвердить свои доходы.

Alternatively, it is very much worth considering establishing Poplar plantations under the wood for fibre scheme. The grant will cover the establishment of the crop and the annual premium is €520 per hectare for 15 years (over 10 hectares planted).

Green Belt is the country's leading grower of poplar and is developing markets beyond simply biomass for the products generated from the growth of this timber. An expected IRR from a poplar plantation, over a 15 year cycle is a conservative 5% per annum, compounded. Green Belt can source and acquire land and licences on your behalf for this and any other forestry application you might have. We are also in a position to secure supply contracts for biomass plants under the SSRH scheme - Energy supply contracts, Energy delivery contracts, Supply of biomass only - and welcome an opportunity to discuss these options with you.

The full press release from the DCCAE is below in text or follow the link.

Minister Bruton Announces Support for Renewable Heat Applications open today Support Scheme for Renewable Heat

The Minister for Communications, Climate Action and Environment, Richard Bruton T.D., today (4th of May) opened the second phase of the Support Scheme for Renewable Heat (SSRH), which will provide operational support for biomass boilers and anaerobic digestion heating systems.

Making the announcement Minister Bruton said: "If we are to cut greenhouse gases, we must replace fossil fuels by renewable sources. This scheme is designed to replace fossil fuel heating systems by heat pumps and by heat from biomass or anaerobic digestion. These are sustainable and renewable sources."

"The scheme will include important protections to ensure that the heat supported is sustainable, used for useful purposes and represents value for money for the taxpayer. Over the lifetime of the scheme, the successful delivery of this programme can reduce carbon emissions by 11Mt – a significant contribution to meeting our emissions reduction targets."

Applications are open today. This round of the Scheme will support businesses and farms for up to 15 years for the installation and on-going use of biomass and anaerobic digestion heating systems. The Scheme is designed to support up to 1,300 GWh of renewable heat per year (equivalent to the heating needs of circa 120,000 homes).

Overall, the projects supported will increase the renewable heat use in Ireland by three percentage points and decrease emissions in the non-ETS sector by approximately 300,000 tonnes of CO2 per year.

The scheme has integrated lessons learned from other similar schemes in other jurisdictions and, as a result, includes detailed eligibility and budgetary controls.

The Sustainable Energy Authority of Ireland (SEAI) will administer the scheme. Jim Gannon, CEO of SEAI, commenting on the launch said: "Across Europe, heating remains one of the most challenging areas in which to achieve carbon emission reductions. This scheme is a vital component part of the Government's overall policy framework to decarbonise heat. SEAI is looking forward to delivering the scheme efficiently and effectively, mobilising the marketplace while maintaining a keen focus on value for public moneys."

The first phase of the SSRH, an installation grant for heat pumps, opened in September 2018 and supports ground, air and water source electric heat pump installations with grant-aid up to 30% of the capital outlay. Under Project Ireland 2040, the National Development Plan sets out an allocation of €300 million for the rollout of the scheme for the period up to 2027.

Full details of the Support Scheme for Renewable Heat including the tariff levels, terms and conditions and how to apply are available on SEAI's website.

ENDS Note to Editors:

Biomass is the biodegradable fraction of products, waste and residues of biological origin from agriculture, forestry and related industries including fisheries and aquaculture.

Biomass boilers work by burning biological matter and outputting the resulting heat for use in heating systems. Wood pellets, chips, logs or other biological materials are fed - automatically, semi-automatically, or by hand - into a combustion chamber where they are ignited. The hot gas and air produced by this process travel through a flue, and are then passed through a heat exchanger, which transfers the heat to the water used in the property's central heating system. The excess heat is also stored in a thermal tank.

Anaerobic digestion is a process in which organic material (e.g. food waste, agricultural waste, silage, energy crops etc.) breaks down, in the absence of oxygen, to produce biogas. This can be combusted to generate heat and/or electricity.

A heat pump system harnesses energy from renewable sources (such as the air, water or ground) outside the building. This heat can then be used for heating buildings, hot water, and for use in manufacturing processes.

Electrical heat pumps use a compressor to draw heat from a low temperature source, such as external air or ground to heat the building interior. While conventional heating systems such as storage heaters and boilers cannot produce more heat than that contained in their fuel source, a heat pump typically will produce three to four units of heat for every unit of electricity consumed.

The Support Scheme for Renewable Heat (SSRH) will support commercial, industrial, agricultural and other non-domestic heat users to adopt renewable heating systems.

The SSRH has been developed to increase the use of renewable energy in the heat sector by circa three percentage points.

The tariffs have been calculated to compensate the difference between renewable technologies and the fossil fuel counterfactual, i.e. natural gas.

Existing biomass or biogas installations will not be eligible for support under the SSRH. This is in line with State aid rules which provide that projects will only be eligible for support if they apply for aid before work on the project starts.

Den digitale utviklingen har gjort det enklere enn noensinne å bestille medisiner diskret og effektivt. For menn som ønsker behandling mot erektil dysfunksjon, er Cialis et naturlig valg grunnet sin langvarige virkning og pålitelighet. Ved å kjøp Cialis online får man tilgang til originale produkter uten å måtte gå via lege eller fysisk apotek. Tjenesten tilbyr rask levering, full diskresjon og trygg betalingsløsning. Det anbefales å starte med laveste dose og øke kun ved behov. Mange brukere rapporterer betydelig forbedret selvtillit og stabil seksualfunksjon etter oppstart med Cialis.

The lessons learned from similar schemes in other jurisdictions have been integrated into the design of the SSRH. In particular, there are eligibility criteria that projects must continue to conform to over the period of support (up to 15 years). These criteria will ensure that heat generated is applied to useful, economically justified purposes only. In addition, there are a number of budget management mechanisms to ensure value for money for the exchequer. These include project budget caps, an annual budget cap for the scheme, annual reviews of the tariffs offered to new applicants and periodic tariff reviews to prevent windfall gains.

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featured blog (top)
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Minister Bruton & DCCAE announce launch of SSRH
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In very welcome news this morning, Minister Bruton has announced that the SSRH scheme has officially been opened to accept applications as of today. This is particularly good for those looking to set ...

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Dept of Agriculture publish forestry statistics

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Dept of Agriculture publish forestry statistics
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Green Belt is delighted to see the DAFM publish forestry statistics for 2019

Annual Forest Sector Statistics The Forest Service has the responsibility for the collection and publication of forest statistics. An annual forest statistics report had been published by the state since its foundation up to 1988, but was discontinued thereafter. This publication reinstates annual reporting on the forest estate and forest industry and brings together previously published and new statistics into a single publication.

https://www.agriculture.gov.ie/forestservice/forestservicegeneralinformation/foreststatisticsandmapping/annualforestsectorstatistics/

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Dept of Agriculture publish forestry statistics
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Green Belt is delighted to see the DAFM publish forestry statistics for 2019

Orange warning for forest fires

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Orange warning for forest fires
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The Dpartment of Agriculture (@DAFM) has issued an Orange warning in relation to forest fires. This is issued on the back of high pressure weather systems and the seasonal undergrowth available for fire. https://www.rte.ie/news/environment/2019/0514/1049324-coillte-warning/

Please take every care in or around forests and if you see a fire, call the fire brigade.

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Orange warning for forest fires
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The Dpartment of Agriculture (@DAFM) has issued an Orange warning in relation to forest fires. This is issued on the back of high pressure weather systems and the seasonal undergrowth available for fi...

How to restore our forests

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How to restore our forests
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In this fascinating video, Sir David Attenborough explains the damage that's been done to the worlds forests. However, he also outlines the potential to regenerate these forests and the enormous benefits these forests provide.

In Ireland, we are in a really wonderful position to develop a sustainable, vibrant forestry and woodlands expanse. This can be so complementary to all of the country and our agricultural enterprises. For so long, there has been a disconnect, but this presents a huge opportunity to improve our carbon capture potential.

Please enjoy this video and call us to see how you can play your part in this forestry project.

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featured blog (top)
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How to restore our forests
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In this fascinating video, Sir David Attenborough explains the damage that's been done to the worlds forests. However, he also outlines the potential to regenerate these forests and the enormous benef...

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scottish_landscape_forest.jpeg