The aim of a new government fund is to promote wood as a lower-carbon replacement for concrete in construction and for fossil fuels. Forestry Minister Peeni Henare has announced a $57 million fund to support investment in domestic wood processing facilities as the government seeks to promote wood as a carbon-efficient alternative in construction, fuels, packaging and even biochemicals and pharmaceuticals. Starting in July, the Wood Processing Growth Fund will provide about $3 million a year for research, business cases, pilot studies and market development around onshore wood processing projects, Henare told the annual Wood Processing and Manufacturing Sector Conference in Rotorua. The rest of the money – the majority – is available to companies looking to build plants or invest in equipment and technology. “Countries around the world are looking to reduce emissions, and our comparative advantage in converting sunlight into wood products, which are inherently low-carbon, is almost unbeatable,” Henare said.  (NIKKI MANDOW)