GBM Conference Wrap Up - A Lumberjack Breakfast Hosted by BFL Forestry

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“Risk and Resiliency from Fell to Sell”

The forestry sector's outlook for 2024 is marked by challenges, including anticipated further sawmill curtailments across North America and a difficult first half of the year. British Columbia's lumber production saw a significant decrease of 26.5% in 2023 compared to the previous year, while the overall Canadian lumber production declined by 21.2%. These reductions were largely due to economic pressures such as elevated interest rates and subdued global economic growth, which led to diminished demand for lumber, impacting housing construction activities and lumber pricing. Despite these obstacles, the forestry industry remains a vital component of the Canadian economy, with its production of both softwood and hardwood lumber making substantial contributions to the manufacturing revenue. The industry's importance is underscored by the projected value addition in the wood market, which is expected to reach US$12.3 billion in 2024, with a forecasted compound annual growth rate (CAGR) of 1.29% from 2024 to 2029.

The forestry industry is inherently linked with both risk and resilience. Risks in this sector often stem from environmental factors such as wildfires, pests, diseases, and climate change, which can all lead to significant economic losses. However, the industry is also a prime example of resilience, as it has developed various adaptive management strategies to mitigate these risks. These include diversifying tree species, improving fire management practices, and enhancing monitoring and early warning systems. Furthermore, sustainable forestry practices contribute to the resilience of forest ecosystems, ensuring they can recover from disturbances and continue to provide essential resources and ecological benefits for future generations.

Please join the GBM and BFL Forestry Practice for a spirited expert panel discussion as we explore "Risk and Resiliency from Fell to Sell"

BFL CANADA is one of the largest employee-owned and operated Risk Management, Insurance Brokerage, and Employee Benefits consulting services firms in Canada. The BFL Forestry Practice bring together true expertise, strive to develop deep relationships, and deliver a genuinely fresh perspective across the value chain of lumber manufacturing ; "from Fell to Sell".

Featuring

Nick Arkle, CEO - Gorman Group

With a career spanning over four decades, Nick has established himself as a visionary leader and a driving force behind Gorman Group’s growth and innovation. Nick is a professional forester with extensive experience in the forestry sector, having worked in various capacities that have honed his expertise in sustainable forestry management, operational excellence, and strategic planning. His leadership at Gorman Group is characterized by a commitment to sustainability, community engagement, and continuous improvement. Under Nick’s guidance, Gorman Group has achieved significant milestones, including advancements in technology, expansion into new markets, and a strengthened focus on environmental stewardship.
Bhavjit Thandi, CFO – Richmond Plywood Corporation

With a distinguished career in finance and accounting, Bhavjit brings a wealth of expertise and strategic insight to his role. Bhavjit has a proven track record of driving financial performance, optimizing operational efficiencies, and leading high-performing teams. Bhavjit has also been recognized as one of Woodworking Network’s Top 40 Under 40 in North America in 2022 and Canadian Forest Industries’ Top 20 Under 40 in Canada in 2023. At Richmond Plywood Corporation Limited, Bhavjit oversees all financial operations and ensures the company’s financial health. He also serves as the Corporate Secretary, responsible for implementing the decisions of the Board of Directors and ensuring adherence to statutory and regulatory requirements.
Behzad Ghods (P.Eng, MBA) VP, Forestry Practice - BFL CANADA

Behzad joined BFL CANADA in August 2023. Behzad has 13 years of industry experience including 11 years of engineering/risk consulting and underwriting experience in large complex Natural Resource risks. Behzad has a Master of Business Administration (MBA) with a Finance Specialization from UBC Sauder School of Business as well as a BASc, Mechanical Engineering from UBC.
Anthony (Tony) G. Moore, Consultant, Risk Control Engineering - BFL CANADA

Prior to joining BFL Canada in September 2022 as a Risk Control Engineering Consultant, Tony worked in risk control engineering for a global leader in Property and Casualty insurance company. With vast experience over 25 years, Tony’s expertise covers a wide span of industries and operations including forest products, mining, telecommunications, and manufacturing. Tony is a Certified Infrared Thermographer, completed training in Heat Plant and Thermal Oil Systems, Electrical Hazards, Liability Loss Control, including training in flammable liquids exposures.