There is plenty of illegal logging of perfectly legal-to-log tree species (if they’re within a threatened species’ territory, or within a nature preserve). And of course there is plenty of logging that is legal yet ecologically destructive. But there are indeed species of trees that are theoretically either restricted or banned from being logged, such as mahogany. However, since mahogany is extremely valuable (it is often referred to as “green gold”) and since most of the countries it grows in are comparatively underdeveloped nations with no real control in the areas where it is grown, logging of it still goes on.
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