Logging companies have no obligation to replace harvested trees. In many cases the earth is left to repair itself. In some areas, like British Colombia and the Congo there is legislature in place to require replacement of trees. Usually the companies can find loopholes or places of little or no oversight in whick to operate. The yoke of ecological responsability is placed on the logging companies and it is their responability to follow regulations and replant, or choose not to.
As infomatonim said, most logging companies do not take responsibility for replenishing forests. However, some do. The Forest Stewardship Council (FSC) is an organization that certifies wood from suppliers who take care of their forests. Next time you buy lumber, you can look for the FSC certification logo to see if it was sustainably produced.
Unfortunately, traditional logging firms are not replacing the trees that they are destroying. However, with the green movement there has been a push for more sustainable logging practices. These methods include avoiding youngling trees and those that are endangered and replenishing areas that have been diminished by logging. Sustainable logging practices are becoming more popular, but traditional logging still has a long way to go in becoming more green.
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