Hon STUART NASH: The forestry and wood processing sector in New Zealand is New Zealand's third-biggest primary sector export earner, contributing between $6 billion and $7 billion per annum over recent years. With increasing global demand for low-emissions materials and fuels, New Zealand's large forestry estate is a vital strategic asset. It will continue to drive development in both established and new areas—for example, long-lived wood products such as engineered wood products are a viable substitute for emissions-intense materials such as concrete and steel, and the residues from timber processing and harvesting skid sites can be used to generate solid heat energy and produce biofuels, displacing carbon-intensive fossil fuels like coal. Sector transformation will also support New Zealand's reputation as a producer of premium, environmentally friendly goods, helping to offset and reduce emissions in other sectors. This is vital as trading partners and consumers increasingly seek environmentally friendly and sustainable products.