Forests are one of Latvia's greatest natural resources, underpinning both economic and environmental sustainability. Yet the question of how they are managed is becoming ever more pressing, as climate change demands new solutions and new approaches to the use of resources. At a time when global carbon markets are developing rapidly, the capacity of forests to store carbon may also prove highly significant for the Latvian economy. Latvia, much like Estonia, can create new opportunities for forest owners and encourage sustainable development. Now, as the role of climate policy and the value of carbon storage grow within the European Union, it is the right moment to consider how to make forestry innovative and sustainable.

Preserving forests and capturing carbon

Forests cover roughly 170 million hectares in Europe and around 3.3 million hectares in Latvia, and historically their value has been measured chiefly by their timber production potential. That approach is gradually changing, however, as alternative management methods develop that deliver both economic and environmental benefits. This autumn, following the example of neighbouring Estonia, a new form of forest management has been introduced in Latvia as well – alternative forestry. This approach offers forest owners a new source of income based not only on felling forests, but also on preserving them and capturing carbon. By extending felling cycles or forgoing clear-cutting, owners can prolong a forest's capacity to capture and store carbon for at least 40 years. The approach also helps to preserve biological diversity, while substantially reducing carbon emissions.

One of the main challenges in developing such management solutions is understanding the potential for carbon capture and storage in mature forests. Close cooperation with forest owners and local scientists is therefore essential, in order to create forest growth models tailored to the tree species found in the particular country. Such modelling allows forest owners to understand the potential of their property in a simple and comprehensible way, and to make informed decisions about managing their resources in an economically advantageous manner.

An opportunity to drive change

Both European Union and global climate neutrality targets, along with public expectations regarding environmental protection, are prompting companies to look ever more actively for sustainable ways to reduce their impact. Forest owners, too, increasingly face management challenges that call for adaptation in order to meet sustainability goals. Alternative forestry is one approach that allows forest owners both to take part in driving meaningful change, conveniently and simply, and to earn an income from doing so.

Forecasts suggest that business-based solutions such as alternative forestry will be the most effective means of bringing about real change in the field of climate neutrality. This approach demonstrates that forest management can be sustainable and profitable at the same time, provided that the needs of the local market and those of the parties involved are respected. In this way, the link between business and environmental protection is strengthened, helping to advance climate neutrality goals.