Glossary

Aquifer	A permeable geological formation under the land surface capable of storing water
Agroforestry	The integration of trees with other agriculture crops or pastures within the same land management unit to achieve multiple economic, social and environmental benefits. See Farm forestry
Biodiversity	The diversity of all living things. This includes animals, plants, insects, fungi and microorganisms. It also includes the ecosystems in which they are part, and their genetic material.
Biodiversity off-setting	Biodiversity offsetting refers to the process of using conservation activities to compensate for the loss of biodiversity due to land development or other activities.
Biodiversity plantings	Planting of trees and shrubs primarily for the purpose of restoring or expanding habitat for plants, animals and micro-organisms.
Biological ecosystems	Biological ecosystems are communities of living organisms such as plants and animals that interact between themselves as well as with the physical environment around them.
Carbon	A non-metallic chemical element that binds with other chemical elements such as oxygen, nitrogen and hydrogen to form organic compounds. Carbon based molecules are essential for animal and plant life
Carbon broker	Individuals or firms that act as intermediaries in commercial transactions between carbon reduction businesses and the carbon market.
Carbon dioxide	A chemical compound composed of one carbon and two oxygen atoms present in the Earth’s atmosphere from volcanic outgassing, burning organic matter, and respiring organisms and burning fossil fuels for power or transport. It is present in the atmosphere at a low concentration and acts as a greenhouse gas. Plants use photosynthesis to convert carbon dioxide to oxygen and carbohydrates.
Carbon emissions trading	Emissions trading involves the buying and selling of carbon permits and credits with the aim to reduce greenhouse gas emissions into the atmosphere. Credits are usually expressed in terms of carbon dioxide equivalents.
Carbon market	Where carbon emission allowances are traded. Australia’s Carbon Marketplace assists businesses to navigate the voluntary carbon market http://marketplace.carbonmarketinstitute.org/
Carbon neutrality	Design of a production system so greenhouse gases produced by the system are zero or offset by sequestration. Also known as net-zero emissions.
Carbon off-setting	The process where industry or organisations (e.g. airlines) releasing carbon into the atmosphere purchase carbon credits to offset against their carbon emissions with the aim of achieving carbon neutrality.
Carbon sequestration	The process of removing carbon from the atmosphere and long-term storage in a carbon reservoir – the deep ocean, forests, or soils.
Carbon sink	A reservoir or pool of carbon that is actively taking up carbon from the atmosphere. Natural carbon sinks include oceans, trees and woody plants, and soil.
Catchment	An area of land in the natural landscape where rainwater moves through creeks, streams, rivers, lakes, dams, and other water storages, eventually flowing into the sea or into natural underground reservoirs or aquifers (groundwater storage)
Catchment Management Authority (CMA)	Catchment Management Authorities are established under the Victorian Catchment and Land Protection Act 1994 and are responsible for the integrated planning and coordination of land, water and biodiversity management within a catchment region. Victoria is divided into ten catchment and land protection regions.
Clearfelling	Where all the trees in a stand are harvested at the same time, such as at the end of a plantation rotation
Contract tree-growing	A partnership arrangement between a landowner and a timber company where the landowner agrees to grow and deliver timber of a specified quality to the timber company at an agreed date. The price paid for the timber is specified by an ‘offtake agreement’ where the timber company agrees to buy the timber at either a specified price or a market-linked future price.
Ecosystem services	The direct and indirect contributions of biological ecosystems to human well-being. These can include provisioning services (food, fibre), regulating services (clean water, carbon sequestration) and cultural services (spiritual, health and recreational benefits).
Environmental plantings	Planting of trees primarily for biodiversity conservation, catchment protection, water quality or aesthetic benefits.
Farm forestry	Trees incorporated within farming systems for commercial or on-farm outcomes.
Greenhouse gasses	Gasses that absorb infrared (heat) radiation. These include water vapour, methane, carbon dioxide and nitrous oxides. Greenhouse gasses absorb heat energy reflected from the Earth’s surface and this radiates back to the atmosphere. Increased greenhouse gas emissions contribute to global warming and human-induced climate change.  https://www.environment.gov.au/climate-change/climate-science-data/climate-science/greenhouse-effect
Groundwater	Water stored in the soil and rock formations or aquifers under the land surface.
Habitat	The natural home or environment of an animal, plant, or other organism.
Hardwood	Hardwood trees are angiosperms or flowering plants that produce seeds within a shell or fruit. Eucalypts such as spotted gums (Corymbia maculata) and deciduous trees such as oaks and walnut trees are examples of hardwood trees.
Haulage	The process of transporting trees from where they are harvested to where they will be processed, such as a timber mill
Haulage distance	The road distance between where the trees are felled and loaded where they will be processed
Investor	A person or organisation providing financial capital to grow trees, usually in the expectation of receiving some financial return in future. Investors may provide capital to grow trees to achieve non-financial outcomes, such as to sequester carbon, to protect waterways and catchments, or to enhance biodiversity.
Joint venture	An agreement where the ownership of a business venture is shared between two or more independent entities. The co-owners of the joint venture share the financial risks and benefits of the business activity.
Lease contracts	In forestry, leases contracts are a business model where a landowner leases land to a timber company or other entity, usually for an annual payment. In lease arrangements the company typically has control and manages the land and the trees.
Net-carbon emissions	This is the balance between greenhouse gas emissions and uptake in specified accounting unit.
Off-take agreement	In forestry an off-take agreement is an arrangement between a landowner or producer and a timber company or other buyer to purchase or sell the timber produced at a time and price that is agreed in advance.
Out-grower	Out-grower, also known as a contract grower, refers to arrangements between a landowner and another organisation to supply trees to that organisation. The landowner provides the land, labour and capital to establish and manage the trees. The timber company may provide the seedlings and management information.
Pulp	Material made up of separated wood fibres used to make paper and paper-based products such as cardboard
Pulpwood	Logs processed into woodchips, used mainly to manufacture paper and paper goods
Riparian zone	The land alongside creeks, streams, gullies, rivers and wetlands
Royalty	The price paid for a standing tree (see Stumpage)
Sawlogs	Logs that are suitable for milling into solid timber products such as sawn timber, veneers, poles or sleepers
Shelter belts	Trees and other plants strategically planted, usually in belts or strips, to provide shade and shelter from the sun and prevailing winds to crops, pasture and livestock. Also called windbreaks.
Silviculture	The practice of managing the growth, composition, health, and quality of trees and forests to meet diverse needs and values.
Softwood	Softwood is wood from gymnosperm trees including pines or cypress (conifers). Unlike angiosperms (flowering plants) gymnosperms produce seeds that are not contained within an ovary or fruit.
Stumpage	The price paid for a standing tree. The price is based on the value of the log at the mill door less the cost of harvesting and transporting the log to the mill
Thinning	Harvesting or removing selected trees from a stand of trees. Thinning increases the growing space to improve the quality and volume of the remaining trees
Timber harvesting	The process of cutting or felling trees for processing
Timber plantation	An area or stand of trees that have been planted for the purpose of timber production.
Victorian Environmental Water Holder (VEWH)	An independent statutory body responsible for holding and managing Victoria’s environmental water entitlements to ensure the best environmental outcomes from the water that is available.
Woodchips	Small or medium sized chips of woods resulting from cutting or chipping larger pieces of wood. Woodchips are used for making manufactured timber products such as particle board and are used in the manufacture of paper and cardboard products.
Woodlot	Usually refers to an area of trees that are grown for private use, such as for firewood, posts or other timber uses