Einde inhoudsopgave
Corporate Social Responsibility (IVOR nr. 77) 2010/13.3.1.0
13.3.1.0 Introductie
Mr. T.E. Lambooy, datum 17-11-2010
- Datum
17-11-2010
- Auteur
Mr. T.E. Lambooy
- JCDI
JCDI:ADS365783:1
- Vakgebied(en)
Ondernemingsrecht (V)
Voetnoten
Voetnoten
The 2010 Biodiversity Indicators Partnership (Global Intiative). See: http://www.twentyten.net/forestdegradation, accessed on 12 April 2010.
'Consequences of Deforestation, Environmental Science and Conservation', News site: Chapter 9: Mongabay.com, at: http://rainforests.mongabay.com/0901.htm, accessed on 6 September 2009; Food and Agriculture Organisation (FAO), UN Report: 'State of the World's Forests', 2009. Available at: http://www.fao.org/forestry/sofo/en/, accessed on 21 June 2010. D. Dykstra, R. Heinrich, 'Sustaining tropical forests through environmentally sound harvesting practices', FAO, at: http://www.fao.org/docrep/u6010e/u6010e04.htm, accessed on 22 May 2010.
Climate Change, Loss of Biodiversity and Deforestation, Working Paper on Climate Change, Loss of Biodiversity and Deforestation, Djakarta, March 6-7, 2007, at: http:// www.asem.mim.dk/NR/rdonlyres/4271D755-2C34-44B6-8A53-3767D7D76A01/0/WPon-BiodiversityandDeforestation280207.pdf, accessed on 3 April 2010.
The Nature Conservancy (conservation organisation), Facts about Rainforests, 2010 See: http://www.nature.org/rainforests/explore/facts.html, accessed on 1 May 2010.
According to Asia Pacific Forestry Commission: 'it is the stewardship and use of forests and forest lands in a way, and at a rate, that maintains their biological diversity, productivity, regeneration capacity, vitality and their potential to fulfil, now and in the future, relevant ecological economic and social functions, at local, national and global levels, and that does not cause damage on other ecosystems.' Available at: http://www.fao.org/forestry/33711/en/, accessed on 2 September 2009.
A. Suria, 'Considering Timber as an Asset Class', Suria Investments Inc., 8 December 2008, at: http://seekingalpha.com/article/109524-considering-timber-as-an-asset-class, accessed on 3 April 2010.
For instance, in Brazil, the Environmental and Social Stock Exchange (BVS&A) was established. Its goal is to bring together all relevant actors, such as NGOs that require funds and social investors willing to support their programmes and projects. Over 60 projects have already been funded, at: http://www.fao.org/forestry/media/16559/170, accessed on 2 September 2009.
Financing Sustainable Forest Management - Forest Policy Brief, PDF available at: http:// www.fao.org/forestry/media/16559/1/0/, accessed on 2 September 2009.
Idem.
All information concerning the funds and projects described in this chapter is sourced from the fund managers directly or from their websites. The author takes no responsibility for the correctness or completeness of the information as these projects and funds are solely presented for illustration purposes concerning the new developing pro-biodiversity investment markets.
Forest degradation is a day-to-day occurrence. Tropical rain forests in particular are disappearing from the face of the earth with immense speed. They are being destroyed at a pace exceeding 200 square kilometres per day.1 In the short term, deforestation results in the loss of the ecological services provided by tropical rainforests and related ecosystems. That implies a reduced access to renewable resources, such as medicinal plants and timber, and the loss of valuable rainforest services, such as water treatment and flood control.2 Over the longer term, the effect of deforestation has an impact on climate and biodiversity.3 Although rainforests cover less than two per cent of the planet's surface, they provide habitat for 50 per cent of the variety of life on the planet.4 Deforestation therefore has a direct effect on the loss and degradation of biodiversity. One of the ways to halt unsustainable deforestation is to protect the forests and to only harvest timber in a sustainable manner, i.e. through sustainable forestry.
Sustainable forest management5 offers business and investment opportunities along with environmental benefits. Investments in this asset class have clearly become more popular over the past few years: the volumes have increased and the spectrum of investors has widened.6 Not only direct investments, i.e. in forestry funds, but also indirect investments are increasing in significance. An example of an indirect investment product is a forest-backed security. The value of these securities relates to expected future profits from commercial forest activities.7Today, investment funds aimed at socially responsible and green investments are an important source of private sector finance.8
A sustainable forest manager makes financial returns by selling timber and wood products, generally certified. He can also sell non-timber forest products (NTFP), such as fiber for biofuels and nuts. In addition, he can make use of PES mechanisms for generating other types of returns.9 For example, selling water rights to downstream users, employing eco-tourism services, and he can tap into the emerging markets for environmental credits for carbon and biodiversity offsets.
To illustrate some developments in this market, three forestry-related initiatives will be presented in paragraphs 13.3.1.1-13.3.1.3. In addition, some Brazilian innovative forestry-related projects can be found in Appendix 13.21.10 As a common denominator the initiatives combine conservation activity with the aim of commercial profitability.