Now industry does have the lead in responding to many of these issues. It's not simply government. Industry must take the lead and has, particularly when we look at markets. You have to take the lead in when to look at species and product diversification. And in this world today, no industry will be successful without a significant portion of your budget going to research and development.
Innovation is key in our ability to compete around the world.
Although it is recognized that the industry faces a challenge of being globally competitive, over the long term this could only be achieved if the industry is seen to be a strong steward of the environment and good citizens of the community. Increasingly, we're seeing consumers are seeking out environmentally kind products, those that are produced under environmentally sustainable conditions. In the quest to retain or expand market share, producers need to heed such warnings from the marketplace. There needs to be public trust and confidence in your products. You've seen in many industries the effect of the consumer on that industry the forest industry, in particular, with the whole issue of eco-labelling.