--- title: the fibre grows on land the mill does not own canonical_url: https://ensurance.app/guide/the-fibre-grows-on-land-the-mill-does-not-own markdown_url: https://ensurance.app/guide/the-fibre-grows-on-land-the-mill-does-not-own.md subtitle: the highest exposure in this sample sits off the deed category: ecosystem-services --- # the fibre grows on land the mill does not own *the highest exposure in this sample sits off the deed* The fibre a southeastern containerboard mill runs on is growing on southern pine the mill does not own. In September 2026, Lloyds Banking Group and Earth Blox scoped International Paper's case to two paper mills located in the southeastern US. That pair is the report's mill scope. It is not a count of every mill the company runs. Storm mitigation at those two mills is 5.5% to 6.3%. In the fibre sourcing region for the southeastern containerboard mills, pest and disease control is 13.3% of expected annual fibre growth, and from 10.2% to 19.6% across sourcing locations sampled. The mill prose does not name what 5.5% to 6.3% is a share of, so the woods percentage is not a larger dollar result than the mill percentage. The claim the note does make is that the highest exposure in this sample sits on land the company does not own or operate. The pest they name is the **southern pine beetle**. :::johnson **the highest exposure in this sample sits off the mill deed.** Pest and disease control is 13.3% of expected annual fibre growth, from 10.2% to 19.6% across sourcing locations sampled. The mill storm figure is 5.5% to 6.3%, and the mill prose does not name that percentage's base. The two are not a larger-versus-smaller dollar comparison. 19.6% is not company revenue. [the temperate forest →](/temperate-forests.ensurance?from=guide) ::: ## a stand the mill does not run A southern pine stand is growing the wood a containerboard mill will want next year, on acres the mill's deed does not have to include. The report's finding is that the highest exposure in this sample sits on land the company does not own or operate. Southern pine beetle burrows under the bark and disrupts the water and nutrients the pine is moving. Drought, urban expansion, and overly dense cover raise how vulnerable that stand is. An outbreak is not limited to trees that were already weak. One fading spot is not the regional 1-in-20-year scenario behind the percentage. The note says a shortfall could tighten regional wood supply. The mill can be running while that exposure sits in the woods. ## what the percentage is of **Nature Value at Risk**, as this report uses it, is the share of economic value that could be at risk if one natural service degrades or drops out. The denominator depends on the case, and two percentages can be compared only when each base is named. [What nature value at risk actually measures](/guide/what-nature-value-at-risk-actually-measures?from=guide) is that metric. This page is the pine. The year they model is a 1-in-20-year, which they equate to a 5% annual probability. Each dependency is scored alone. Companies supplied the financials and the locations; Earth Blox joined those to geospatial data. The authors call the results directional scenario estimates. They are not a forecast, not an expected loss, and not a measure of future financial performance. This is Lloyds Banking Group, with Earth Blox, in *The Missing Line Item*. It is not the Lloyd's of London market. | place | service, scored alone | figure | what the prose says it is of | | --- | --- | --- | --- | | Two paper mills located in the southeastern US, the report's scope | Storm mitigation | 5.5% to 6.3% | Base not named in the mill prose | | Southeastern fibre sourcing region | Pest and disease control | 13.3% on average; 10.2% to 19.6% across sourcing locations sampled | Expected annual fibre growth | 19.6% is the high end of pest and disease control across sourcing locations sampled. It is a share of expected annual fibre growth. It is not International Paper's group revenue, and it is not a company-wide Nature Value at Risk. Water supply is also called material at the mills in that scope. The prose does not give a water percentage for those sites. The Earth Blox explainer of 23 September 2026 states two further cuts for that sourcing region, still one at a time: rainfall variability as high as 15.9%, and water supply as high as 14.3%. Those maxima belong to the explainer. They are not added to 13.3%, and they are not another name for 19.6%. The PDF chart and the pest paragraph do not share a denominator. The chart is labeled as a share of asset value. The paragraph that gives 13.3%, and the range from 10.2% to 19.6% across sourcing locations sampled, says those figures are a share of expected annual fibre growth. The pest figures on this page follow that paragraph. ### what is the southern pine beetle? The southern pine beetle (*Dendroctonus frontalis*) is a native bark beetle of the southeastern United States. It burrows under the bark of a southern pine and disrupts the water and nutrients that tree is moving. Drought, urban expansion, and overly dense cover raise the stand's vulnerability. An outbreak is not only trees that were already weak. One fading spot in a stand is not the regional 1-in-20-year scenario the fibre-growth percentage describes. ### why is a mill's nature exposure higher in the woods? In this report, higher describes where the exposure sits. It does not mean the woods percentage is a larger dollar result than the mill percentage. Storm mitigation at the two mills in scope is 5.5% to 6.3%, and the mill prose does not name that percentage's base. Pest and disease control in the sourcing region is 13.3% of expected annual fibre growth, from 10.2% to 19.6% across sourcing locations sampled, on land the company does not own or operate. In this sample the highest exposure is upstream of the deed. The report does not add these rows into one total. ### who owns the fibre risk? The landowner holds the southern pine. The mill depends on fibre those acres were going to add. Sophie Beckham, Chief Sustainability Officer at International Paper, has described a business that depends on forests and on responsible sourcing. The report's response is a sourcing decision and supplier engagement. It does not stay in the sustainability office. ## the stand is older than the percentage A southern pine stand, a mountain snowpack, and the plants holding a slope exist whether or not anyone buys a certificate. Nature Value at Risk is a percentage a bank can read. [Ensurance](/temperate-forests.ensurance?from=guide) funds the living system. It is not the percentage. You can name a [southern pine stand](/specific/create?mode=suggest&agent=temperate-forests.ensurance&name=southern%20pine%20stand&from=guide) under [temperate forests](/temperate-forests.ensurance?from=guide). The page keeps that line as coming soon, and co-creating it is how the stand gets specified. A timber check is not this stand. [What a timber investment actually buys](/guide/what-a-timber-investment-actually-buys?from=guide) is the harvest ticket on acres a timberland desk already holds. ## sources [The Missing Line Item](https://25218570.fs1.hubspotusercontent-eu1.net/hubfs/25218570/Customer%20content/The%20Missing%20Line%20Item%20-%20Lloyds%20&%20Earth%20Blox.pdf) — Lloyds Banking Group with Earth Blox, September 2026. Mill scope of two southeastern paper mills; storm figure with no base named in that prose; pest and disease control as a share of expected annual fibre growth across sourcing locations sampled; southern pine beetle. [Earth Blox explainer](https://www.earthblox.io/resources/lloyds-and-earth-blox-quantify-nature-risk-for-corporates-in-new-report-the-missing-line-item) — 23 September 2026. Rainfall variability and water supply maxima in the sourcing region, each scored on its own. ## the series - [what nature value at risk actually measures](/guide/what-nature-value-at-risk-actually-measures?from=guide) - [the fibre grows on land the mill does not own](/guide/the-fibre-grows-on-land-the-mill-does-not-own?from=guide) - [the same cooling plant, two snowpacks](/guide/the-same-cooling-plant-two-snowpacks?from=guide) - [a hectare map is not a payment](/guide/a-hectare-map-is-not-a-payment?from=guide) - [fund the stand the percentage points at](/guide/fund-the-stand-the-percentage-points-at?from=guide)