TIDMFSF
RNS Number : 4968W
Foresight Sustain. Forestry Co PLC
18 April 2023
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:
Foresight Sustainable Forestry Company Plc
Robert Guest
Richard Kelly
fsfc@foresightgroup.eu +44 20 3667 8100
Jefferies International Limited
Tom Yeadon
Will Soutar +44 20 7029 8000
SEC Newgate
Elisabeth Cowell +44 (0)20 3757 6882
Alice Cho fsf@secnewgate.co.uk
Harry Handyside
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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