26 March
2024
Foresight Sustainable
Forestry Company Plc
Publication of Sustainability
and Environmental, Social and Governance Report
Foresight Sustainable Forestry
Company Plc ("FSF",
"the Company"), an
investment company that invests in UK forestry and afforestation
assets, today announces the publication of its second dedicated
Sustainability and Environmental, Social and Governance
("S&ESG") report for
the year to 30 September 2023.
This report showcases the Company's
commitment to measuring, delivering, monitoring and improving on
its S&ESG objectives. It also includes more detailed
information on the progress the Company has made over the year in
specific areas such as engagement and consultation with local
communities, biodiversity baselining and investigations into the
emerging areas of nature-related financial disclosures and natural
capital accounting. These processes underpin the Company's
strategy.
Highlights
· During
the year, the Company's portfolio sequestered 35,081 tonnes of
carbon dioxide.
· The
Company completed planting at four afforestation properties. The
planting schemes have been carefully designed to incorporate a
diverse mix of tree species.
· Value
ascribed towards the creation of carbon credits increased to £2.7
million in aggregate (30 September 2022: £0.6
million).
· The
Company's Skills Training Programme was expanded and now includes
Scotland. Ten candidates were enrolled, up from four in 2022. The
majority have since been employed into the forestry
sector.
· The
Company has made progress towards its community engagement goals
and held 28 public consultations during the year. Tangible outcomes
included a two-year lease and management arrangement with a local
community group.
· The
Company completed baseline biodiversity assessments on a
representative cross-section of 27 properties using a bespoke
biodiversity tool. This demonstrates steps taken by the Company to
deliver on its IPO commitment to protect and enhance biodiversity
across the portfolio.
· The
Company engaged with its suppliers to encourage them to attain the
International Organization for Standardization ("ISO")
accreditation or a reasonable equivalent.
· The
Company is pursuing Wallacea Biodiversity Credits using the
Wallacea Trust Methodology[1] at its Fordie
Estate property, which has a strong biodiversity potential on a
landscape scale, making it an ideal test site. This involves
baselining, forecasting and measuring biodiversity results across
five metrics with the goal of monetising the related nature
positive credentials in the future.
Full report
The full report is available to view
on the Company's website here: https://fsfc.foresightgroup.eu/shareholder-centre
Josephine Bush, Chair of the Company's S&ESG Committee,
said:
"We are pleased to present our second dedicated Sustainability
and Environmental, Social and Governance report. Our commitment is
to make continued progress towards our key sustainability
objectives through innovation, engagement and management. Over the
year, we have increased the supply of home-grown UK timber and our
2024/25 planting scheme is on track to see c.9million trees planted
over c.4,500 hectares - equivalent to one-third of the total area
planted across the UK in the year to 30 March 2023. We believe that
our growing portfolio delivers a range of natural capital services
that benefits society at large, the local communities in which we
are present, and in parallel, drives value for our
shareholders."
For further information, please
contact:
Foresight Sustainable Forestry Company Plc
Robert Guest
Richard Kelly
fsfc@foresightgroup.eu
|
+44 20 3667 8100
|
Stifel Nicolaus Europe Limited
Edward Gibson-Watt
Bruno Benega
Rajpal Padam
Catriona Neville
|
+44(0) 20 7663 3227
|
SEC
Newgate
Elisabeth Cowell
Alice Cho
Harry Handyside
|
+44 (0)20 3757 6882
fsf@secnewgate.co.uk
|
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.