REG - Foresight Sustain. - Publication of Sustainability and ESG Report

Foresight Sustainable ForestryAnnouncement

26/03/2024 07:00

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RNS Number : 2340I  Foresight Sustain. Forestry Co PLC  26 March 2024

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  (#_ftn1) 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  +44 20 3667 8100

 Robert Guest

 Richard Kelly

 fsfc@foresightgroup.eu

 Stifel Nicolaus Europe Limited              +44(0) 20 7663 3227

 Edward Gibson-Watt

 Bruno Benega

 Rajpal Padam

 Catriona Neville

 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/ (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.

 

 1  (#_ftnref1)
https://wallaceatrust.org/wp-content/uploads/2022/12/Biodiversity-credit-methodology-V3.pdf

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