Publication of Sustainability and ESG Report
18 April 2023
Foresight Sustainable Forestry Company Plc
("FSF", "the Company")
Publication of inaugural dedicated Sustainability and ESG ( " S&ESG " ) Report
Foresight Sustainable Forestry Company Plc, an investment company that invests in UK forestry and afforestation assets, today announces the publication of its first dedicated Sustainability and Environmental, Social and Governance ("ESG") report.
The report outlines the Company's ambitious Sustainability and ESG vision and provides stakeholders with an update on the Company's delivery against its Key Sustainability and ESG objectives over the period ended 30 September 2022. With the release of this document, the Company is aiming to set an enhanced standard for reporting within the forestry and natural capital industry and the wider ESG investment sector.
Sustainability and strong governance are fundamental to FSF's business model, as captured in the Company's three key Sustainability and ESG objectives:
· Key Objective 1: Timber Supply - To deliver and increase the supply of homegrown UK timber to reduce the country's reliance on imports.
· Key Objective 2: Sustainable Returns - To do so in a way that combines sustainable financial returns with carbon sequestration, biodiversity protection and other positive environmental and social impacts.
· Key Objective 3: Progressive Industry Leadership - To be a sustainability leader in the UK forestry industry whilst delivering both traditional commercial timber products and innovative natural capital services.
The report showcases measures taken by the Company to engage with local communities, increase carbon sequestration, and increase the supply of UK sustainable timber. It includes detailed case studies of some of the Company's activities such as a flood protection scheme, an afforestation project in action, the negotiation of a sustainability-linked Revolving Credit Facility and the launch of the Company's flagship Forestry Skills Training Programme.
The report also explains the natural capital land management approach that the Company is applying with a view to generating natural capital alpha, which is the delivery of ecosystem services to society alongside resilient risk-adjusted financial returns to its shareholders. These concepts and the related terminology are described in the report.
FSF will continue to provide transparent reporting on the progress and challenges related to its Sustainability and ESG journey. The full report is available to view on the Company's website here: https://media.umbraco.io/foresight/ar0gzg2h/sustainability-and-esg-report-2022.pdf
Josephine Bush, Chair of the Company's S&ESG Committee, said:
"We are pleased to present our first dedicated Sustainability and ESG report, which showcases FSF's commitment to the setting of Key Objectives which align with the UN SDGs, the EU Green Taxonomy, Article 9 of the EU SFDR and the TCFD and to transparently reporting the Company's progress on those objectives and underlying principles over time. Since IPO, FSF has achieved significant Sustainability and ESG contributions, and has received several industry awards recognising the leading role that the Company is playing. The report introduces and explains the Company's natural capital approach to sustainable land management and timber supply and the framework for how it can measure S&ESG success and areas for improvement in the future. The Board looks forward to continuing to work with the Investment Manager to build on the positive output and momentum that has been achieved this year in this area of the business."
For further information, please contact:
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Foresight Sustainable Forestry Company Plc Robert Guest Richard Kelly fsfc@foresightgroup.eu
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+44 20 3667 8100 |
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Jefferies International Limited Tom Yeadon Will Soutar
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+44 20 7029 8000
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SEC Newgate Elisabeth Cowell Alice Cho Harry Handyside
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+44 (0)20 3757 6882 fsf@secnewgate.co.uk
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About the Company
Foresight Sustainable Forestry Company Plc ("the Company") is an externally managed investment company investing in a diversified portfolio of UK forestry and afforestation assets.
Targeting a net total return of more than CPI +5%, the Company provides investors with the opportunity for real returns and capital appreciation driven by the prevailing global imbalance between supply and demand for timber; the inflation-protection qualities of UK land freeholds; and biological tree growth of 3% to 4% not correlated to financial markets.
The Company also offers outstanding sustainability and ESG attributes and access to carbon units related to carbon sequestration from new afforestation planting.
The Company targets value creation as the afforestation projects successfully achieve development milestones in the process of converting open ground into established commercial forest and woodland areas.
The Company is seeking to make a direct contribution in the fight against climate change through forestry and afforestation carbon sequestration initiatives and to preserve and proactively enhance natural capital and biodiversity across its portfolio.
The Company is managed by Foresight Group LLP. https://fsfc.foresightgroup.eu/
Notes
This announcement does not constitute, and may not be construed as, an offer to sell or an invitation to purchase investments of any description, or the provision of investment advice by any party. No information set out in this announcement is intended to form the basis of any contract of sale, investment decision or any decision to purchase securities in the Company.
This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will", "targeting" or "should" or, in each case, their negative or other variations or comparable terminology. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, strategy, plans, proposed acquisitions and objectives, are forward-looking statements.
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