Financial impact evaluation of catastrophic storm damage in Irish forestry: a case study. II. Future revenue losses

Citation
M. Nieuwenhuis et E. O'Connor, Financial impact evaluation of catastrophic storm damage in Irish forestry: a case study. II. Future revenue losses, FORESTRY, 74(4), 2001, pp. 383-393
Citations number
6
Language
INGLESE
art.tipo
Article
Categorie Soggetti
Plant Sciences
Journal title
FORESTRY
ISSN journal
0015-752X → ACNP
Volume
74
Issue
4
Year of publication
2001
Pages
383 - 393
Database
ISI
SICI code
0015-752X(2001)74:4<383:FIEOCS>2.0.ZU;2-2
Abstract
The objective of the research reported in this article was to identify fact ors influencing the economic impact of catastrophic storm damage in forestr y. The study was based on data from stands which were wind thrown in the so uth of Ireland during the storm of 24 December 1997. The study area covered all forests in Counties Cork and Waterford, most in County Kerry and some in County Limerick. This, the second of two articles, focuses on the future revenue losses in the current and the subsequent rotation. The results of the analysis on short-term impacts (presented in the first article) are com bined with these long-term impacts to produce a comprehensive estimate of t he financial losses due to catastrophic wind damage. Two forests (Midleton and Skibbereen) were selected for detailed stand-level analysis. This analy sis showed average combined stumpage and growth losses per ha. of IR pound 1778 for Midleton forest and IR pound 4141 per ha for Skibbereen forest. Th ese losses were for the current wind-thrown rotation only. As a consequence of the wind throw, the next rotations will commence earlier than planned, resulting in a reduction in these losses. Taking both the current and next rotation into account, the losses per ha were IR pound 1649 for Midleton fo rest and IR pound 3668 per ha for Skibbereen forest. The total wind-throw l oss in Midleton of IR pound 163252 amounted to 28 per cent of the average a nnual stumpage value of IR pound 583700. For Skibbereen forest, the total w ind-throw loss of IR pound 641900 was 126 per cent of the average annual st umpage value of IR pound 511110. The reasons for this much higher percentag e loss in Skibbereen forest were: a higher proportion of blown stands; a lo wer average annual stumpage value in the years prior to the storm; and a gr eater difference between target rotation length and the age at which the st ands were wind blown. These results show clearly that the financial impact of wind-throw damage can vary greatly depending on the local stand and fore st characteristics. Consequently, any accurate estimates of financial losse s due to catastrophic wind throw have to be based on detailed stand-level a nalysis.