In the six months to the end of March 2025, US equity markets corrected while Europe performed better. In Holzkurier of 24 April 2025, Stefano Charrey, Senior Research Advisor at Timber Finance, shows how this affected the Timber Finance Carbon Capture & Storage Index, which has tracked the timber construction value chain since 22 February 2022.
Outlet
Holzkurier
Published
April 24, 2025
North America under pressure
From the end of September 2024 to the end of March 2025, the index lost 13.5 percent in euros. Canadian lumber producers and US manufacturers and distributors of timber building products weighed most. Western Forest Products generated around 36 percent of its 2024 revenue from exports to the US, and Interfor estimates that around 25 percent of its lumber output is exposed to tariffs. Forest machinery makers and the large US timberland owners PotlatchDeltic, Rayonier and Weyerhaeuser held up best.
European small caps gain
The European part of the index has performed well since the end of 2024. German wood fibre insulation specialist Steico and Finnish forest machinery maker Ponsse gained 31 and 34 percent respectively in the first quarter of 2025. Swiss property developer Ina Invest left the index at the end of March due to low liquidity. Otherwise the composition remained stable, with 35 percent in Europe and just over 40 percent in secondary products such as engineered wood.
The index is the first equity index to track the timber construction value chain in North America and Europe.
How Timber Carbon sees it
The index is run by Timber Finance, from which Timber Carbon was spun off in 2026. While the index tracks companies along the value chain, Timber Carbon works at the level of the individual building: we quantify, certify and monetise the carbon removed in mass timber buildings as carbon removal credits on the voluntary carbon market. Learn more on our technology page.
Topics
Source
Holzkurier
Austrian trade newspaper for the timber industry
