According to the present invention there is provided a carrier formulation adapted to operatively support a preservative or preservative mixture within a material for treating wood, said carrier formulation comprising water and one or more water-miscible, water-soluble or water-emulsifiable compounds wherein said carrier formulation provides for preservative penetration and substantial preservative retention within the treated wood; and wherein the treated wood requires relatively little post-treatment drying. The carrier formulation provides for substantially complete or envelope penetration of the preservative within the treated wood.