Coillte was established as a commercial state company with private limited status under the Forestry Act, 1988, to become custodian and manager of the national forest estate.
The company's mandate is set out in Section 12 of the Forestry Act 1988 and provides, inter alia, that one of its principal objects is to carry on the business of forestry and related activities on a commercial basis, and in accordance with efficient silvicultural practices. Coillte currently manages 440,000 hectares of land (7% of the total area of the State).
Over time Coillte's role has evolved in accordance with Government policy to include the environmental, social and economic sustainability of the forestry sector and our rural economy.
Coillte's Strategic Vision for Our Future Forest Estate sets out its high-level ambitions for its forest estate to 2050, which aims to balance and deliver the multiple benefits of forests for climate action, biodiversity and recreation, while continuing to deliver for the forest and wood product industry. A guiding principle of delivering on this vision is the ambition to increase the area of its forest estate being managed for nature from 20% to 50% in the long term.
The Shareholder letter of Expectation issued to Coillte on 2nd June 2022 clearly defines the terms of the State body’s relationship with the Department and includes balancing Coillte’s commercial remit with national environmental objectives. This letter is published on gov.ie. Discussions between Coillte and my Department on an updated Shareholder Letter are currently progressing.