Forico

Integrating climate and nature into strategic oversight

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Climate and nature-related risk: Wildfire, drought, biosecurity threats and deteriorating ecosystem condition affecting forests and long-term business value
Solution pathway: Integrated risk assessment; strategic planning; executive ownership; board oversight

Business type: Private forestry and land-management business
Sector: Forestry and natural asset management
Geography: Tasmania, Australia

In practice

Forico is Tasmania's largest private land manager, managing approximately 172,000 hectares of estate across the State. They maintain and operate a vertically integrated forestry business managing seed production through to the supply of logs and wood fibre.  Their forest estate depends on environmental conditions that influence timber production and wider ecosystem services. Forico’s September 2023 integrated climate and nature disclosure describes a strategic framework that brings these dependencies into enterprise planning, supported by risk assessments and consultation with staff, stakeholders and directors.

Priority issues are translated into plans with defined objectives, budgets, timeframes and performance indicators. Senior managers lead the work, with board review and approval. Documented responses include wildfire prevention and early detection, assessment of drought impacts on plantation productivity, and monitoring and response arrangements for biosecurity threats.

Management provides quarterly updates on significant risks and opportunities, creating a recurring link between environmental information and executive decisions. Natural capital reporting complements this process by making services such as water filtration, carbon storage and habitat visible alongside timber production. The result is a governance structure through which changing environmental conditions can inform priorities and investment.

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Why this example was selected

The Taskforce on Nature-related Financial Disclosures collaborated with Forico to produce an illustrative report integrating climate and nature disclosures. This provides external recognition of its usefulness as a reporting and governance example. The case is particularly relevant because it documents responsibilities, planning processes and oversight arrangements, while clearly distinguishing these organisational measures from evidence of future resilience outcomes.

Key lesson

Connect priority environmental risks with accountable leaders, funded work and regular review. Consider climate and nature together where business performance depends on the same landscapes, resources and ecosystem services.

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