SlideShare a Scribd company logo
Long Finance & PEFC              PEFC/01-00-01

                                                 Promoting Sustainable
                                                  Forest Management
© Z/Yen Group                                        www.pefc.org
     2012




                Finance, Forestry & PEFC:
                How Is Forest Certification
                        Relevant?
                       London, 25 October 2012
Agenda                          PEFC/01-00-01

                                                             Promoting Sustainable
                                                              Forest Management
© Z/Yen Group                                                    www.pefc.org
     2012



                ♦  Welcome
                ♦  PEFC Forest Certification And The Finance
                   Sector– Ben Gunneberg, PEFC
                ♦  What Does Certification Mean For Investors,
                   Guarantors, Lenders and Traders? – Michael
                   Mainelli, Z/Yen Group
                ♦  Q&A / Open Discussion on finance, forestry
                   and certification
PEFC Forest Certification and
    the Finance Sector
    Ben Gunneberg, Secretary General, PEFC International
    London, 25th October 2012




3
What is PEFC?
    §    Global, not-for-profit, non-governmental organisation based in
          Geneva, Switzerland

    §    Voluntary mechanism promoting sustainable forest management
          providing independent, third party certification of good practices

    §    Alliance of national forest certification systems with global
          representation and an international chain of custody

    §    World's largest forest certification system and provider of two thirds of
          the world’s certified sustainably managed wood

    §    Certification system of choice for small family forest-owners

4
           Programme for the Endorsement of Forest Certification
Finance, Forestry & Certification
    Financial Significance                        Sustainability Significance
    § Global investment universe of              § 17% of global CO2 emissions
    managed forests: ~300-500 bn                  § 1 in 5 people depend on forests
    USD (+100 bn USD by 2030)                     § 80% of terrestrial biodiversity
    § Physical assets
                                                  § 10-15 bn USD assets and
    § Financial assets                           revenues lost annually from illegal
    § Lending, investing, banking,               logging
    commodity trading, credit ratings

      Enhances the underlying asset value         Reduces risk

                           Sustainable Forest Management

                      Standards, assurance, transparency and traceability

5                                  Forest Certification
What is Forest Certification?
     Elements of Certification                    Certification Delivers

                                            Sustainable wood raw material is:

                                            •    legal: the wood is harvested following
                                                 local legislation and international
                                                 agreements and the forest owner has
                                                 been compensated accordingly
     Forest Management Certification
                                            •    from well managed forests: forestry
                                                 operations have been conducted
                                                 maintaining forest s ecological, social
           Chain of Custody Certification        and economic values

                                            •    traceable: the raw material supply chain
                                                 is controlled and verified from the
                                                 harvesting site up until finished products



6
PEFC Sustainable Forest
    Management Requirements
    §    Requires compliance with all fundamental ILO conventions
    §    Tailored to specific needs ranging from company to family and
          community owned forestry
    §    Sets highest standards for forest certification aligned with the
          majority of world’s governments, including
           –    Maintaining & enhancing biodiversity
           –    Prohibition of forest conversions
           –    Prohibition of most hazardous chemicals, GMOs
           –    Protecting workers rights & welfare
           –    Encouraging local employment
           –    Recognizes principles of FPIC (free, prior, informed consent), UN
                Declaration on the Rights of Indigenous Peoples, ILO 169
    §    Provisions for consultation with local people and stakeholders
    §    Exclusion of certification of plantations established by
7
          conversions
Relevance of Forest Certification
    to Finance Sector
    §    Globally recognized mechanism to codify sustainable forest
          management standards & verify practices
    §    Screening indicator for financial and ESG-related decision-
          making
    §    Provides assurance throughout the entire supply chain;
          strengthening of traceability
    §    Ensures long-term management of forest assets
    §    Elimination of illegal activities; deforestation of primary forests
    §    Improved access to markets
    §    Better environmental risk management



8
Increasing the recognition of
    Forest Certification
    §    ESG issues have potential to create or diminish shareholder
          value so need to be managed

    §    Over 70 leading banks signed up to the Equator Principles for
          project finance. Principle 3 recommends compliance with IFC’s
          Performance Standards, including Standard 6 - Biodiversity
          which requires independent certification of sustainable practices.

    §    Following Rio+20 Earth Summit – 40 institutions have signed
          Natural Capital Declaration supporting development of
          methodologies to integrate natural capital considerations into
          decision making process for all financial products and services

9
PEFC’s Global Presence




        - Non-endorsed system   - Endorsed system
10
Certification Globally
                    9%                           26%                          66%




     §    Only 9% of the world’s forests are certified
     §    Only 26% of the world’s industrial roundwood supply is certified
     §    66% of the total area certified is to PEFC



11
Acceptance by Government
     Procurement Policies
     §    PEFC is recognised by the Belgian, British, Danish, Dutch, Finnish,
           French, German, Japanese, and Swiss Timber Procurement Policies




     §    Recommended by the European Commission Guidelines on Green
           Public Procurement



     §    EU Ecolabel

     §    European Retail Environmental Sustainability Code


12
Acceptance by Other
           Procurement Policies
     §    Green Building Councils in Australia, Italy, and Singapore, the Code
           for Sustainable Homes, BREEAM in the Netherlands and the UK,
           and SKA rating in the UK



     §    Green Building Assessment Protocol for Commercial Buildings and
           the National Green Building Standard (US), and Built Green
           (Canada)

     §    Comprehensive Assessment System for Built Environmental
           Efficiency (CASBEE) Japan

     §    Singapore Environment Council
13
CPET




14
UK Public Procurement CPET




     According to the assessment reports, the certification systems comply with the
     CPET criteria as follows:
     § FSC: 92%*

     § PEFC: 89% (97% for revised standard**)



     * for for chip and fibre products with less than 70%. certified material
15
     Source: CPET 2010 Review of forest certification schemes
     ** own assessment
Conclusions
     §    Forest certification provides benchmark and assurance tool of
           SFM practices and is one of several ESG indicators
     §    Helps to verify compliance and mitigate risk
     §    When investing in or lending to forest related projects:
            –    Screens for quality re selection/inclusion in funds and for projects /companies
            –    Risk mitigation tool when dealing with smaller enterprises
     §    When insuring forest – related activities:
            –    Increases assurances when providing insurance to forest enterprises – esp
                 smaller actors
     §    When trading forest products including timber:
            –    Traceability and risk mitigation
     §    Should also be incorporated into financial institutions’ own
           procurement policies

16
Why PEFC?
          PEFC is the world’s largest forest certification system

     1. Basedon intergovernmental agreements & internationally
     recognized processes

     2. Upholds   highest SFM standards without exceptions

     3. Intentioned
               to maintain focus on promoting Sustainable Forest
     Management

     4. Level   of stakeholder engagement equally high for all standards

     5. Demands    independence between the different aspects of the
     forest certification

17   BUILDing on local action, PEFC cares for our forests globally
Further information about PEFC: www.pefc.org

     THANK YOU!

18
Finance, Forestry & PEFC
© Z/Yen Group
     2012




                What Does Certification Mean
                 For Investors, Guarantors,
                   Lenders and Traders?
                   Professor Michael Mainelli, Chairman, Z/Yen Group
Finance & forestry - who
© Z/Yen Group
     2012



                ♦  Investors – individuals, companies, institutions,
                   family offices, governments
                   Ø Including investment managers or intermediaries
                      acting on behalf of investors e.g. asset managers,
                      private equity firms, banks
                ♦  Lenders – banks, capital markets, project
                   financiers, trade financiers
                ♦  Guarantors – insurers, banks, rating agencies
                ♦  Traders – commodity traders, banking
                   services, trade financiers
                ♦  In-house procurement
./0)1'232*.'+)2-+,'4'56*6'7./,)8
          9,1):';*.-)'70<*
                             $!!                                                                                          "!




                                               What - forest physical assets (1)
                                                                                                                          &
                             #!!

                                                                                                                          !

© Z/Yen Group                "!!
     2012                                                                                                                 ?&

                                                                                                                                                                     The IPD UK Forestry Index is calculated

                              ♦  Long-term investment for ‘patient capital’ but
                                                                                                                          ?"!
                               !                                                                                                                                     from a sample of private sector
                                   "@@& "@@C "@@B "@@A "@@@ #!!! #!!" #!!# #!!$ #!!% #!!& #!!C #!!B #!!A #!!@ #!"! #!""
                                                                                                                                                                     coniferous plantations of predominantly
                                                                                                                                                                     Sitka spruce in mainland Britain and in
                                 involving immediate returns (e.g. timber)
                                                =..'>3+)02+('9,1):                 >3+)02+('9,1):
                                                                                                                                                                     2011 returned 34.8%



       !"#$%&$'()*+,)-$!./*0$                         $              $         $           $            $$$$$$$

                                                   !./*0                    !./*0                                                                                   3..?@7A+*/$)@,*+$B
                                                  #*4GH=<=                 #*4GH=<<
                                               #*4$<>>H$I$<==            #*4$<>>H$I$<==               <$-)        :$-)+                                            ;$-)+$         <=-)+             <>-)+

       6)*"#&*,'                                    .5/89                    :598;                     .:8<        4/89                                            458:            /.8=               ;8;
       &)&-%'*"&$*7

       >?23"*'@*?1"'                                  =/8C                    =C8:                      :8.        /C8/                                            //8.             985              D584
       1+-7A"B
       B'^7'-',"-*'&)'N-*1+'3-#?#'Z45//'_'N-*1+'45/4[


       C,D*)$@++*,+$E,(,@7$)*,?).F$ $                                $         $           $$$$$$$

        EF$?&?"#                                    ://85                    .=98<                   D.8C          /48=                                              /84            :8<               ;8C

        G?%&#                                       .;=8.                    :.<89                   /C89           ;8=                                              =85            ;85               <8/

        H)22"*1?-%'                                 :<=8;                    C4<8/                    ;8<           <8;                                             D58;            98=               =84
        @*)@"*&,
       0-&-'O)$*1"#`'6>OE'V%%DO+-*"'M7J"XL'6>OE'T]'G?%&#'M7J"X'C'D'/C',*#L'MU0'T]'V77$-%'M7J"XL'6)*"#&*,'H)22?##?)7')2?7-%'U*?1"'M7J"X')('H)7?("*)$#'O&-7J?7A'O-%"#'
       Z()*'G*"-&'I*?&-?7[

                                                                         Source - IPD UK Forestry Index (2012)
        12(.+()+$                          $           $             $         $
        I?JK"%%#L'I)*J"*'H)7#$%&-7&#L'H)76)*L'6MN'O"*P?1"#'Q?2?&"JL'6)*"#&*,'H)22?##?)7L'6)$7&-?7#'6)*"#&*,L'R?A+(?"%J'6)*"#&*,L'O1)&&?#+'S))J%-7J#L'TUN'>?%+?%%L'
        O&"%%-*'V##"&'N-7-A"2"7&
What - forest physical assets (2)
© Z/Yen Group
     2012




                Attractive…                      … but risky too
                ♦    Portfolio diversification   ♦    Political (country) risk
                ♦    Low-volatility of returns   ♦    Property rights
                ♦    Counter-cyclical            ♦    Operational risks
                ♦    Long-term inflation         ♦    Reputational risk
                     hedge                       ♦    Investment risk

                Risk management and mitigation options:
                ♦ Diversification
                ♦ Insurance, e.g. property, investment
                ♦ Credit derivatives
                ♦ Securitization
UK Too!
© Z/Yen Group
     2012




                      Forest operations in Scotland
                      Source – PEFC UK
What – forest financial assets
© Z/Yen Group
     2012



                ♦  Forest-related financial product/asset deriving
                   its value from a contractual claim
                   Ø Timberland Investment Management Organisations
                      (TIMOs), Forest Real Estate Investment Trusts
                      (REITs)
                   Ø corporate bonds in the forest, packaging & paper
                      industry
                   Ø thematic funds – SFM, timber
                   Ø multilateral and government bonds issued to fund
                      forestry-related activities
                   Ø forest bonds
                   Ø emissions credits – REDD+
REDD and REDD+
© Z/Yen Group
     2012



                ♦  UN-backed
                ♦  Aiming to reduce emissions from deforestation
                   and forest degradation
                ♦  Focus on developing countries
                ♦  REDD+ projects include conservation,
                   sustainable forest management and carbon
                   sinks enhancement
                ♦  Recent developments
                  Ø REDD + - World Bank administered Forest Carbon
                     Partnership Facility
                  Ø REDD – BNP Carbon Finance US$ 50 m deal with
                     Wildlife Works
Forest bonds
© Z/Yen Group
     2012



                ♦  Significant interest (IFC, WB) but no issuance
                   yet
                ♦  To attract low-cost, long-term capital to project/
                   companies in sustainable forestry
                   Ø Bonds issuance against various cashflows
                   Ø Portfolio diversity, country selection and credit
                      enhancement are key to risk mitigation and
                      feasibility
                   Ø Best (?) if issued by supranational entity
Finance & forestry: other connections
© Z/Yen Group
     2012



                ♦  Lending to or investing in:
                   Ø Companies in the forest, paper & packaging (FPP)
                      industry
                   Ø Industries impacting on forests e.g. mining
                   Ø Infrastructure development projects
                   Ø Companies in sectors buying forest products (e.g.
                      construction, retail)
                ♦  Banking services, e.g. to agribusinesses
                ♦  Commodity trading and trade finance, e.g.
                   timber
                ♦  Countries’ credit ratings & sustainability
Reports from the London Accord
© Z/Yen Group
     2012



                ♦  UNEP FI – “REDDy - Set - Grow” (2011)
                ♦  Inrate – “The UN Year of Forests and Its
                   Significance for Investors” (2011)
                ♦  Responsible Research – “Forestry in
                   Asia” (2011)
                ♦  *Bank Sarasin – “Sustainable Fulfillment of
                   Sovereign Obligations” (2011)
                ♦  Z/Yen Group – “Finance & Forestry: Where’s
                   the Data?” (2010)
                ♦  Forum for the Future – “Forest Investment
                   Review” (2009)
Finance, Forestry & PEFC           PEFC/01-00-01

                                                  Promoting Sustainable
                                                   Forest Management
© Z/Yen Group                                         www.pefc.org
     2012


                                 Any Questions?




                Tropical forest Source - PEFC

More Related Content

What's hot

Options for REDD+
Options for REDD+Options for REDD+
Options for REDD+
CIFOR-ICRAF
 
Foodservice the throwaway industry?
Foodservice  the throwaway industry?Foodservice  the throwaway industry?
Foodservice the throwaway industry?
Footprint_Forum
 
Mica Bennett - Eco-certification: Can it deliver in the tropics? - Aug 2009
Mica Bennett - Eco-certification: Can it deliver in the tropics? - Aug 2009Mica Bennett - Eco-certification: Can it deliver in the tropics? - Aug 2009
Mica Bennett - Eco-certification: Can it deliver in the tropics? - Aug 2009
Pro-poor Rewards for Environmental Services in Africa ICRAF
 
Efficient Wood Supply 2025
Efficient Wood Supply 2025Efficient Wood Supply 2025
Efficient Wood Supply 2025
Metsateho
 
Rene Boot_Certification, FLEGT & REDD+ Combining Incentives for Impact
Rene Boot_Certification, FLEGT & REDD+ Combining Incentives for ImpactRene Boot_Certification, FLEGT & REDD+ Combining Incentives for Impact
Rene Boot_Certification, FLEGT & REDD+ Combining Incentives for Impact
International Bamboo and Rattan Organisation
 
Why and How should Indigenous Peoples and forest communities engage with NFMS...
Why and How should Indigenous Peoples and forest communities engage with NFMS...Why and How should Indigenous Peoples and forest communities engage with NFMS...
Why and How should Indigenous Peoples and forest communities engage with NFMS...Global Canopy
 
Berry Plan vivo methods oct 2011
Berry Plan vivo methods oct 2011Berry Plan vivo methods oct 2011
HCARE Staff and Student Induction
HCARE Staff and Student InductionHCARE Staff and Student Induction
HCARE Staff and Student Induction
Rebecca Ferriday
 
Developing a sustainable charcoal sector in sub-Saharan Africa
Developing a sustainable charcoal sector in sub-Saharan AfricaDeveloping a sustainable charcoal sector in sub-Saharan Africa
Developing a sustainable charcoal sector in sub-Saharan Africa
World Agroforestry (ICRAF)
 
Charlie Henderson insetting guide
Charlie Henderson insetting guideCharlie Henderson insetting guide
Charlie Henderson insetting guide
PlanVivo1
 
Blue Carbon+: Efforts to harness coastal and marine ecosystem values for impr...
Blue Carbon+: Efforts to harness coastal and marine ecosystem values for impr...Blue Carbon+: Efforts to harness coastal and marine ecosystem values for impr...
Blue Carbon+: Efforts to harness coastal and marine ecosystem values for impr...Iwl Pcu
 
Forest Refine, 2012-2014
Forest Refine, 2012-2014Forest Refine, 2012-2014
Forest Refine, 2012-2014Kalvis Kons
 
245472983-Sustainable-Coppice-Forest-Management-in-the-Balkan
245472983-Sustainable-Coppice-Forest-Management-in-the-Balkan245472983-Sustainable-Coppice-Forest-Management-in-the-Balkan
245472983-Sustainable-Coppice-Forest-Management-in-the-Balkanhakikola
 
Carbon insetting to confront climate change, improve farmer livelihoods and e...
Carbon insetting to confront climate change, improve farmer livelihoods and e...Carbon insetting to confront climate change, improve farmer livelihoods and e...
Carbon insetting to confront climate change, improve farmer livelihoods and e...CIAT
 

What's hot (14)

Options for REDD+
Options for REDD+Options for REDD+
Options for REDD+
 
Foodservice the throwaway industry?
Foodservice  the throwaway industry?Foodservice  the throwaway industry?
Foodservice the throwaway industry?
 
Mica Bennett - Eco-certification: Can it deliver in the tropics? - Aug 2009
Mica Bennett - Eco-certification: Can it deliver in the tropics? - Aug 2009Mica Bennett - Eco-certification: Can it deliver in the tropics? - Aug 2009
Mica Bennett - Eco-certification: Can it deliver in the tropics? - Aug 2009
 
Efficient Wood Supply 2025
Efficient Wood Supply 2025Efficient Wood Supply 2025
Efficient Wood Supply 2025
 
Rene Boot_Certification, FLEGT & REDD+ Combining Incentives for Impact
Rene Boot_Certification, FLEGT & REDD+ Combining Incentives for ImpactRene Boot_Certification, FLEGT & REDD+ Combining Incentives for Impact
Rene Boot_Certification, FLEGT & REDD+ Combining Incentives for Impact
 
Why and How should Indigenous Peoples and forest communities engage with NFMS...
Why and How should Indigenous Peoples and forest communities engage with NFMS...Why and How should Indigenous Peoples and forest communities engage with NFMS...
Why and How should Indigenous Peoples and forest communities engage with NFMS...
 
Berry Plan vivo methods oct 2011
Berry Plan vivo methods oct 2011Berry Plan vivo methods oct 2011
Berry Plan vivo methods oct 2011
 
HCARE Staff and Student Induction
HCARE Staff and Student InductionHCARE Staff and Student Induction
HCARE Staff and Student Induction
 
Developing a sustainable charcoal sector in sub-Saharan Africa
Developing a sustainable charcoal sector in sub-Saharan AfricaDeveloping a sustainable charcoal sector in sub-Saharan Africa
Developing a sustainable charcoal sector in sub-Saharan Africa
 
Charlie Henderson insetting guide
Charlie Henderson insetting guideCharlie Henderson insetting guide
Charlie Henderson insetting guide
 
Blue Carbon+: Efforts to harness coastal and marine ecosystem values for impr...
Blue Carbon+: Efforts to harness coastal and marine ecosystem values for impr...Blue Carbon+: Efforts to harness coastal and marine ecosystem values for impr...
Blue Carbon+: Efforts to harness coastal and marine ecosystem values for impr...
 
Forest Refine, 2012-2014
Forest Refine, 2012-2014Forest Refine, 2012-2014
Forest Refine, 2012-2014
 
245472983-Sustainable-Coppice-Forest-Management-in-the-Balkan
245472983-Sustainable-Coppice-Forest-Management-in-the-Balkan245472983-Sustainable-Coppice-Forest-Management-in-the-Balkan
245472983-Sustainable-Coppice-Forest-Management-in-the-Balkan
 
Carbon insetting to confront climate change, improve farmer livelihoods and e...
Carbon insetting to confront climate change, improve farmer livelihoods and e...Carbon insetting to confront climate change, improve farmer livelihoods and e...
Carbon insetting to confront climate change, improve farmer livelihoods and e...
 

Viewers also liked

Financial Analysis - Banque Cantonale Vaudoise - Banque Cantonale Vaudoise (B...
Financial Analysis - Banque Cantonale Vaudoise - Banque Cantonale Vaudoise (B...Financial Analysis - Banque Cantonale Vaudoise - Banque Cantonale Vaudoise (B...
Financial Analysis - Banque Cantonale Vaudoise - Banque Cantonale Vaudoise (B...
BCV
 
Mobile Convention Amsterdam - Dan Armstrong
Mobile Convention Amsterdam - Dan ArmstrongMobile Convention Amsterdam - Dan Armstrong
Mobile Convention Amsterdam - Dan Armstrong
MobileConventionAmsterdam
 
ISLAMIC FIANANCIAL INSTITUTION IN SWITZERLAND
ISLAMIC FIANANCIAL INSTITUTION IN SWITZERLAND ISLAMIC FIANANCIAL INSTITUTION IN SWITZERLAND
ISLAMIC FIANANCIAL INSTITUTION IN SWITZERLAND
Maryam Khalilah
 
2016 GRESB Real Estate & Debt Results Release - Australia/NZ
2016 GRESB Real Estate & Debt Results Release - Australia/NZ 2016 GRESB Real Estate & Debt Results Release - Australia/NZ
2016 GRESB Real Estate & Debt Results Release - Australia/NZ
GRESB
 
Advanon - NOAH16 Berlin
Advanon - NOAH16 BerlinAdvanon - NOAH16 Berlin
Advanon - NOAH16 Berlin
NOAH Advisors
 
The historical background of sumpang bita
The historical background of sumpang bitaThe historical background of sumpang bita
The historical background of sumpang bita
Muh Azwar
 
Despacho de Sérgio Moro na Operação Resta Um
Despacho de Sérgio Moro na Operação Resta UmDespacho de Sérgio Moro na Operação Resta Um
Despacho de Sérgio Moro na Operação Resta Um
Giovanni Sandes
 
2016 GRESB Real Estate Swedish Results
2016 GRESB Real Estate Swedish Results2016 GRESB Real Estate Swedish Results
2016 GRESB Real Estate Swedish Results
GRESB
 
GreenBiz Forum 2015 Tutorial Slides: "The Science of Science-Based Goals" - N...
GreenBiz Forum 2015 Tutorial Slides: "The Science of Science-Based Goals" - N...GreenBiz Forum 2015 Tutorial Slides: "The Science of Science-Based Goals" - N...
GreenBiz Forum 2015 Tutorial Slides: "The Science of Science-Based Goals" - N...
GreenBiz Group
 
Financial Analysis
Financial AnalysisFinancial Analysis
Financial Analysis
David Gibson-Moore
 
Communication of Corporate Social Responsibility
Communication of Corporate Social ResponsibilityCommunication of Corporate Social Responsibility
Communication of Corporate Social Responsibility
Copenhagen Business School
 
Islamic profit rate swap
Islamic profit rate swapIslamic profit rate swap
Islamic profit rate swap
Tariqullah Khan
 
Relato Integrado | GT3 Pioneiras
Relato Integrado | GT3 PioneirasRelato Integrado | GT3 Pioneiras
Relato Integrado | GT3 Pioneiras
Relato Integrado - Comissão Brasileira
 
2011 Energie Congres - Positionering
2011 Energie Congres - Positionering2011 Energie Congres - Positionering
2011 Energie Congres - PositioneringJoost Augusteijn
 
Rabo Development & Sustainable Distribution
Rabo Development & Sustainable DistributionRabo Development & Sustainable Distribution
Rabo Development & Sustainable Distribution
Dan Armstrong
 
Rabo Development Retail Distribution Case Study: Mobile Banking and Payments
Rabo Development Retail Distribution Case Study: Mobile Banking and PaymentsRabo Development Retail Distribution Case Study: Mobile Banking and Payments
Rabo Development Retail Distribution Case Study: Mobile Banking and PaymentsDan Armstrong
 
Africa - Mobile Convention Amsterdam
Africa - Mobile Convention AmsterdamAfrica - Mobile Convention Amsterdam
Africa - Mobile Convention AmsterdamDan Armstrong
 

Viewers also liked (20)

PROSPEROUS GROUP Presentation April 2016
PROSPEROUS GROUP  Presentation April 2016PROSPEROUS GROUP  Presentation April 2016
PROSPEROUS GROUP Presentation April 2016
 
2016_GRESB_Pitch_Luc
2016_GRESB_Pitch_Luc2016_GRESB_Pitch_Luc
2016_GRESB_Pitch_Luc
 
Financial Analysis - Banque Cantonale Vaudoise - Banque Cantonale Vaudoise (B...
Financial Analysis - Banque Cantonale Vaudoise - Banque Cantonale Vaudoise (B...Financial Analysis - Banque Cantonale Vaudoise - Banque Cantonale Vaudoise (B...
Financial Analysis - Banque Cantonale Vaudoise - Banque Cantonale Vaudoise (B...
 
Mobile Convention Amsterdam - Dan Armstrong
Mobile Convention Amsterdam - Dan ArmstrongMobile Convention Amsterdam - Dan Armstrong
Mobile Convention Amsterdam - Dan Armstrong
 
Caroline Lemoine CV
Caroline Lemoine CVCaroline Lemoine CV
Caroline Lemoine CV
 
ISLAMIC FIANANCIAL INSTITUTION IN SWITZERLAND
ISLAMIC FIANANCIAL INSTITUTION IN SWITZERLAND ISLAMIC FIANANCIAL INSTITUTION IN SWITZERLAND
ISLAMIC FIANANCIAL INSTITUTION IN SWITZERLAND
 
2016 GRESB Real Estate & Debt Results Release - Australia/NZ
2016 GRESB Real Estate & Debt Results Release - Australia/NZ 2016 GRESB Real Estate & Debt Results Release - Australia/NZ
2016 GRESB Real Estate & Debt Results Release - Australia/NZ
 
Advanon - NOAH16 Berlin
Advanon - NOAH16 BerlinAdvanon - NOAH16 Berlin
Advanon - NOAH16 Berlin
 
The historical background of sumpang bita
The historical background of sumpang bitaThe historical background of sumpang bita
The historical background of sumpang bita
 
Despacho de Sérgio Moro na Operação Resta Um
Despacho de Sérgio Moro na Operação Resta UmDespacho de Sérgio Moro na Operação Resta Um
Despacho de Sérgio Moro na Operação Resta Um
 
2016 GRESB Real Estate Swedish Results
2016 GRESB Real Estate Swedish Results2016 GRESB Real Estate Swedish Results
2016 GRESB Real Estate Swedish Results
 
GreenBiz Forum 2015 Tutorial Slides: "The Science of Science-Based Goals" - N...
GreenBiz Forum 2015 Tutorial Slides: "The Science of Science-Based Goals" - N...GreenBiz Forum 2015 Tutorial Slides: "The Science of Science-Based Goals" - N...
GreenBiz Forum 2015 Tutorial Slides: "The Science of Science-Based Goals" - N...
 
Financial Analysis
Financial AnalysisFinancial Analysis
Financial Analysis
 
Communication of Corporate Social Responsibility
Communication of Corporate Social ResponsibilityCommunication of Corporate Social Responsibility
Communication of Corporate Social Responsibility
 
Islamic profit rate swap
Islamic profit rate swapIslamic profit rate swap
Islamic profit rate swap
 
Relato Integrado | GT3 Pioneiras
Relato Integrado | GT3 PioneirasRelato Integrado | GT3 Pioneiras
Relato Integrado | GT3 Pioneiras
 
2011 Energie Congres - Positionering
2011 Energie Congres - Positionering2011 Energie Congres - Positionering
2011 Energie Congres - Positionering
 
Rabo Development & Sustainable Distribution
Rabo Development & Sustainable DistributionRabo Development & Sustainable Distribution
Rabo Development & Sustainable Distribution
 
Rabo Development Retail Distribution Case Study: Mobile Banking and Payments
Rabo Development Retail Distribution Case Study: Mobile Banking and PaymentsRabo Development Retail Distribution Case Study: Mobile Banking and Payments
Rabo Development Retail Distribution Case Study: Mobile Banking and Payments
 
Africa - Mobile Convention Amsterdam
Africa - Mobile Convention AmsterdamAfrica - Mobile Convention Amsterdam
Africa - Mobile Convention Amsterdam
 

Similar to Breakfast Event: Finance, Forestry & PEFC: How Is Forest Certification Relevant?

FSC Free Prior Informed Consent in practice
FSC Free Prior Informed Consent in practiceFSC Free Prior Informed Consent in practice
FSC Free Prior Informed Consent in practice
CIFOR-ICRAF
 
Notes Version: Sustainability Elements of a Responsible Request for Proposal
Notes Version: Sustainability Elements of a Responsible Request for ProposalNotes Version: Sustainability Elements of a Responsible Request for Proposal
Notes Version: Sustainability Elements of a Responsible Request for ProposalVivastream
 
Notes Version: Sustainability Elements of a Responsible Request for Proposal
Notes Version: Sustainability Elements of a Responsible Request for ProposalNotes Version: Sustainability Elements of a Responsible Request for Proposal
Notes Version: Sustainability Elements of a Responsible Request for ProposalVivastream
 
The role of private sector in forest conservation & finance
The role of private sector in forest conservation & finance The role of private sector in forest conservation & finance
The role of private sector in forest conservation & finance
CIFOR-ICRAF
 
Day 1.Presentation 3. augustin silvani
Day 1.Presentation 3. augustin silvaniDay 1.Presentation 3. augustin silvani
Day 1.Presentation 3. augustin silvaniThe Forests Dialogue
 
27 1400 3_new forests_ rai policy and experience in mekong
27 1400 3_new forests_ rai policy and experience in mekong27 1400 3_new forests_ rai policy and experience in mekong
27 1400 3_new forests_ rai policy and experience in mekong
mrlgregion
 
ForCES – Forest Certification for Ecosystem Services - A groundbreaking pilot...
ForCES – Forest Certification for Ecosystem Services - A groundbreaking pilot...ForCES – Forest Certification for Ecosystem Services - A groundbreaking pilot...
ForCES – Forest Certification for Ecosystem Services - A groundbreaking pilot...
CIFOR-ICRAF
 
Eco labels
Eco labelsEco labels
Eco labels
sureshbtechmba
 
The Southern African farmers’ challenge: climate finance for agriculture
The Southern African farmers’ challenge: climate finance for agricultureThe Southern African farmers’ challenge: climate finance for agriculture
The Southern African farmers’ challenge: climate finance for agriculture
Technical Centre for Agricultural and Rural Cooperation ACP-EU (CTA)
 
Joshua Bishop, WWF Australia - Presentation UNAA Sustainable Consumption and ...
Joshua Bishop, WWF Australia - Presentation UNAA Sustainable Consumption and ...Joshua Bishop, WWF Australia - Presentation UNAA Sustainable Consumption and ...
Joshua Bishop, WWF Australia - Presentation UNAA Sustainable Consumption and ...
United Nations Association of Australia (Vic)
 
Rspo cspo presentation may 2014
Rspo cspo presentation may 2014Rspo cspo presentation may 2014
Rspo cspo presentation may 2014
Peter Meredith
 
OECD UNDP Conference on Biodiversity Finance – Session 5 Onno van den Heuvel,...
OECD UNDP Conference on Biodiversity Finance – Session 5 Onno van den Heuvel,...OECD UNDP Conference on Biodiversity Finance – Session 5 Onno van den Heuvel,...
OECD UNDP Conference on Biodiversity Finance – Session 5 Onno van den Heuvel,...
OECD Environment
 
Laos redd intro
Laos redd introLaos redd intro
Laos redd introLIWG-Laos
 
Ops forumsustainability presentationslidessept2012
Ops forumsustainability presentationslidessept2012Ops forumsustainability presentationslidessept2012
Ops forumsustainability presentationslidessept2012
Ardea International
 
Presentation1.pptx
Presentation1.pptxPresentation1.pptx
Presentation1.pptx
Mirali93266
 
Pham UN-REDD safeguards_翻訳付
Pham UN-REDD safeguards_翻訳付Pham UN-REDD safeguards_翻訳付
Pham UN-REDD safeguards_翻訳付Pham Nam
 
Ops forumsustainability presentationslidessept2012
Ops forumsustainability presentationslidessept2012Ops forumsustainability presentationslidessept2012
Ops forumsustainability presentationslidessept2012Ardea International
 
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB SummitThe Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
Global Infrastructure Basel Foundation
 

Similar to Breakfast Event: Finance, Forestry & PEFC: How Is Forest Certification Relevant? (20)

FSC Free Prior Informed Consent in practice
FSC Free Prior Informed Consent in practiceFSC Free Prior Informed Consent in practice
FSC Free Prior Informed Consent in practice
 
Notes Version: Sustainability Elements of a Responsible Request for Proposal
Notes Version: Sustainability Elements of a Responsible Request for ProposalNotes Version: Sustainability Elements of a Responsible Request for Proposal
Notes Version: Sustainability Elements of a Responsible Request for Proposal
 
Notes Version: Sustainability Elements of a Responsible Request for Proposal
Notes Version: Sustainability Elements of a Responsible Request for ProposalNotes Version: Sustainability Elements of a Responsible Request for Proposal
Notes Version: Sustainability Elements of a Responsible Request for Proposal
 
The role of private sector in forest conservation & finance
The role of private sector in forest conservation & finance The role of private sector in forest conservation & finance
The role of private sector in forest conservation & finance
 
Day 1.Presentation 3. augustin silvani
Day 1.Presentation 3. augustin silvaniDay 1.Presentation 3. augustin silvani
Day 1.Presentation 3. augustin silvani
 
27 1400 3_new forests_ rai policy and experience in mekong
27 1400 3_new forests_ rai policy and experience in mekong27 1400 3_new forests_ rai policy and experience in mekong
27 1400 3_new forests_ rai policy and experience in mekong
 
ForCES – Forest Certification for Ecosystem Services - A groundbreaking pilot...
ForCES – Forest Certification for Ecosystem Services - A groundbreaking pilot...ForCES – Forest Certification for Ecosystem Services - A groundbreaking pilot...
ForCES – Forest Certification for Ecosystem Services - A groundbreaking pilot...
 
Eco labels
Eco labelsEco labels
Eco labels
 
Avoided Deforestation with Sustainable Benefits: Challenges for Tanzania (and...
Avoided Deforestation with Sustainable Benefits: Challenges for Tanzania (and...Avoided Deforestation with Sustainable Benefits: Challenges for Tanzania (and...
Avoided Deforestation with Sustainable Benefits: Challenges for Tanzania (and...
 
Guy Duke
Guy DukeGuy Duke
Guy Duke
 
The Southern African farmers’ challenge: climate finance for agriculture
The Southern African farmers’ challenge: climate finance for agricultureThe Southern African farmers’ challenge: climate finance for agriculture
The Southern African farmers’ challenge: climate finance for agriculture
 
Joshua Bishop, WWF Australia - Presentation UNAA Sustainable Consumption and ...
Joshua Bishop, WWF Australia - Presentation UNAA Sustainable Consumption and ...Joshua Bishop, WWF Australia - Presentation UNAA Sustainable Consumption and ...
Joshua Bishop, WWF Australia - Presentation UNAA Sustainable Consumption and ...
 
Rspo cspo presentation may 2014
Rspo cspo presentation may 2014Rspo cspo presentation may 2014
Rspo cspo presentation may 2014
 
OECD UNDP Conference on Biodiversity Finance – Session 5 Onno van den Heuvel,...
OECD UNDP Conference on Biodiversity Finance – Session 5 Onno van den Heuvel,...OECD UNDP Conference on Biodiversity Finance – Session 5 Onno van den Heuvel,...
OECD UNDP Conference on Biodiversity Finance – Session 5 Onno van den Heuvel,...
 
Laos redd intro
Laos redd introLaos redd intro
Laos redd intro
 
Ops forumsustainability presentationslidessept2012
Ops forumsustainability presentationslidessept2012Ops forumsustainability presentationslidessept2012
Ops forumsustainability presentationslidessept2012
 
Presentation1.pptx
Presentation1.pptxPresentation1.pptx
Presentation1.pptx
 
Pham UN-REDD safeguards_翻訳付
Pham UN-REDD safeguards_翻訳付Pham UN-REDD safeguards_翻訳付
Pham UN-REDD safeguards_翻訳付
 
Ops forumsustainability presentationslidessept2012
Ops forumsustainability presentationslidessept2012Ops forumsustainability presentationslidessept2012
Ops forumsustainability presentationslidessept2012
 
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB SummitThe Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
 

More from PEFC International

Double certification PEFC and FSC (Estimation end 2016)
Double certification PEFC and FSC (Estimation end 2016)Double certification PEFC and FSC (Estimation end 2016)
Double certification PEFC and FSC (Estimation end 2016)
PEFC International
 
PEFC Global Certificates
PEFC Global CertificatesPEFC Global Certificates
PEFC Global Certificates
PEFC International
 
Draft Requirements for Sustainable Forest Management
Draft Requirements for Sustainable Forest ManagementDraft Requirements for Sustainable Forest Management
Draft Requirements for Sustainable Forest Management
PEFC International
 
Group Forest Management Certification Requirements
Group Forest Management Certification RequirementsGroup Forest Management Certification Requirements
Group Forest Management Certification Requirements
PEFC International
 
PEFC Standard Setting - Requirements
PEFC Standard Setting - RequirementsPEFC Standard Setting - Requirements
PEFC Standard Setting - Requirements
PEFC International
 
Global Challenges for Certification
Global Challenges for CertificationGlobal Challenges for Certification
Global Challenges for Certification
PEFC International
 
PEFC Standards Revision: Requirements for SFM Standards
PEFC Standards Revision: Requirements for SFM StandardsPEFC Standards Revision: Requirements for SFM Standards
PEFC Standards Revision: Requirements for SFM Standards
PEFC International
 
PEFC Standards Revision: Standard Setting
PEFC Standards Revision: Standard SettingPEFC Standards Revision: Standard Setting
PEFC Standards Revision: Standard Setting
PEFC International
 

More from PEFC International (8)

Double certification PEFC and FSC (Estimation end 2016)
Double certification PEFC and FSC (Estimation end 2016)Double certification PEFC and FSC (Estimation end 2016)
Double certification PEFC and FSC (Estimation end 2016)
 
PEFC Global Certificates
PEFC Global CertificatesPEFC Global Certificates
PEFC Global Certificates
 
Draft Requirements for Sustainable Forest Management
Draft Requirements for Sustainable Forest ManagementDraft Requirements for Sustainable Forest Management
Draft Requirements for Sustainable Forest Management
 
Group Forest Management Certification Requirements
Group Forest Management Certification RequirementsGroup Forest Management Certification Requirements
Group Forest Management Certification Requirements
 
PEFC Standard Setting - Requirements
PEFC Standard Setting - RequirementsPEFC Standard Setting - Requirements
PEFC Standard Setting - Requirements
 
Global Challenges for Certification
Global Challenges for CertificationGlobal Challenges for Certification
Global Challenges for Certification
 
PEFC Standards Revision: Requirements for SFM Standards
PEFC Standards Revision: Requirements for SFM StandardsPEFC Standards Revision: Requirements for SFM Standards
PEFC Standards Revision: Requirements for SFM Standards
 
PEFC Standards Revision: Standard Setting
PEFC Standards Revision: Standard SettingPEFC Standards Revision: Standard Setting
PEFC Standards Revision: Standard Setting
 

Recently uploaded

PF-Wagner's Theory of Public Expenditure.pptx
PF-Wagner's Theory of Public Expenditure.pptxPF-Wagner's Theory of Public Expenditure.pptx
PF-Wagner's Theory of Public Expenditure.pptx
GunjanSharma28848
 
Which Crypto to Buy Today for Short-Term in May-June 2024.pdf
Which Crypto to Buy Today for Short-Term in May-June 2024.pdfWhich Crypto to Buy Today for Short-Term in May-June 2024.pdf
Which Crypto to Buy Today for Short-Term in May-June 2024.pdf
Kezex (KZX)
 
how to sell pi coins in all Africa Countries.
how to sell pi coins in all Africa Countries.how to sell pi coins in all Africa Countries.
how to sell pi coins in all Africa Countries.
DOT TECH
 
US Economic Outlook - Being Decided - M Capital Group August 2021.pdf
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfUS Economic Outlook - Being Decided - M Capital Group August 2021.pdf
US Economic Outlook - Being Decided - M Capital Group August 2021.pdf
pchutichetpong
 
innovative-invoice-discounting-platforms-in-india-empowering-retail-investors...
innovative-invoice-discounting-platforms-in-india-empowering-retail-investors...innovative-invoice-discounting-platforms-in-india-empowering-retail-investors...
innovative-invoice-discounting-platforms-in-india-empowering-retail-investors...
Falcon Invoice Discounting
 
What price will pi network be listed on exchanges
What price will pi network be listed on exchangesWhat price will pi network be listed on exchanges
What price will pi network be listed on exchanges
DOT TECH
 
Intro_Economics_ GPresentation Week 4.pptx
Intro_Economics_ GPresentation Week 4.pptxIntro_Economics_ GPresentation Week 4.pptx
Intro_Economics_ GPresentation Week 4.pptx
shetivia
 
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
muslimdavidovich670
 
how can I sell pi coins after successfully completing KYC
how can I sell pi coins after successfully completing KYChow can I sell pi coins after successfully completing KYC
how can I sell pi coins after successfully completing KYC
DOT TECH
 
how to sell pi coins at high rate quickly.
how to sell pi coins at high rate quickly.how to sell pi coins at high rate quickly.
how to sell pi coins at high rate quickly.
DOT TECH
 
what is the future of Pi Network currency.
what is the future of Pi Network currency.what is the future of Pi Network currency.
what is the future of Pi Network currency.
DOT TECH
 
Transkredit Finance Company Products Presentation (1).pptx
Transkredit Finance Company Products Presentation (1).pptxTranskredit Finance Company Products Presentation (1).pptx
Transkredit Finance Company Products Presentation (1).pptx
jenomjaneh
 
一比一原版(IC毕业证)帝国理工大学毕业证如何办理
一比一原版(IC毕业证)帝国理工大学毕业证如何办理一比一原版(IC毕业证)帝国理工大学毕业证如何办理
一比一原版(IC毕业证)帝国理工大学毕业证如何办理
conose1
 
how can I sell/buy bulk pi coins securely
how can I sell/buy bulk pi coins securelyhow can I sell/buy bulk pi coins securely
how can I sell/buy bulk pi coins securely
DOT TECH
 
Webinar Exploring DORA for Fintechs - Simont Braun
Webinar Exploring DORA for Fintechs - Simont BraunWebinar Exploring DORA for Fintechs - Simont Braun
Webinar Exploring DORA for Fintechs - Simont Braun
FinTech Belgium
 
The European Unemployment Puzzle: implications from population aging
The European Unemployment Puzzle: implications from population agingThe European Unemployment Puzzle: implications from population aging
The European Unemployment Puzzle: implications from population aging
GRAPE
 
how can i use my minded pi coins I need some funds.
how can i use my minded pi coins I need some funds.how can i use my minded pi coins I need some funds.
how can i use my minded pi coins I need some funds.
DOT TECH
 
Pensions and housing - Pensions PlayPen - 4 June 2024 v3 (1).pdf
Pensions and housing - Pensions PlayPen - 4 June 2024 v3 (1).pdfPensions and housing - Pensions PlayPen - 4 June 2024 v3 (1).pdf
Pensions and housing - Pensions PlayPen - 4 June 2024 v3 (1).pdf
Henry Tapper
 
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...
beulahfernandes8
 
SWAIAP Fraud Risk Mitigation Prof Oyedokun.pptx
SWAIAP Fraud Risk Mitigation   Prof Oyedokun.pptxSWAIAP Fraud Risk Mitigation   Prof Oyedokun.pptx
SWAIAP Fraud Risk Mitigation Prof Oyedokun.pptx
Godwin Emmanuel Oyedokun MBA MSc ACA ACIB FCTI FCFIP CFE
 

Recently uploaded (20)

PF-Wagner's Theory of Public Expenditure.pptx
PF-Wagner's Theory of Public Expenditure.pptxPF-Wagner's Theory of Public Expenditure.pptx
PF-Wagner's Theory of Public Expenditure.pptx
 
Which Crypto to Buy Today for Short-Term in May-June 2024.pdf
Which Crypto to Buy Today for Short-Term in May-June 2024.pdfWhich Crypto to Buy Today for Short-Term in May-June 2024.pdf
Which Crypto to Buy Today for Short-Term in May-June 2024.pdf
 
how to sell pi coins in all Africa Countries.
how to sell pi coins in all Africa Countries.how to sell pi coins in all Africa Countries.
how to sell pi coins in all Africa Countries.
 
US Economic Outlook - Being Decided - M Capital Group August 2021.pdf
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfUS Economic Outlook - Being Decided - M Capital Group August 2021.pdf
US Economic Outlook - Being Decided - M Capital Group August 2021.pdf
 
innovative-invoice-discounting-platforms-in-india-empowering-retail-investors...
innovative-invoice-discounting-platforms-in-india-empowering-retail-investors...innovative-invoice-discounting-platforms-in-india-empowering-retail-investors...
innovative-invoice-discounting-platforms-in-india-empowering-retail-investors...
 
What price will pi network be listed on exchanges
What price will pi network be listed on exchangesWhat price will pi network be listed on exchanges
What price will pi network be listed on exchanges
 
Intro_Economics_ GPresentation Week 4.pptx
Intro_Economics_ GPresentation Week 4.pptxIntro_Economics_ GPresentation Week 4.pptx
Intro_Economics_ GPresentation Week 4.pptx
 
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
 
how can I sell pi coins after successfully completing KYC
how can I sell pi coins after successfully completing KYChow can I sell pi coins after successfully completing KYC
how can I sell pi coins after successfully completing KYC
 
how to sell pi coins at high rate quickly.
how to sell pi coins at high rate quickly.how to sell pi coins at high rate quickly.
how to sell pi coins at high rate quickly.
 
what is the future of Pi Network currency.
what is the future of Pi Network currency.what is the future of Pi Network currency.
what is the future of Pi Network currency.
 
Transkredit Finance Company Products Presentation (1).pptx
Transkredit Finance Company Products Presentation (1).pptxTranskredit Finance Company Products Presentation (1).pptx
Transkredit Finance Company Products Presentation (1).pptx
 
一比一原版(IC毕业证)帝国理工大学毕业证如何办理
一比一原版(IC毕业证)帝国理工大学毕业证如何办理一比一原版(IC毕业证)帝国理工大学毕业证如何办理
一比一原版(IC毕业证)帝国理工大学毕业证如何办理
 
how can I sell/buy bulk pi coins securely
how can I sell/buy bulk pi coins securelyhow can I sell/buy bulk pi coins securely
how can I sell/buy bulk pi coins securely
 
Webinar Exploring DORA for Fintechs - Simont Braun
Webinar Exploring DORA for Fintechs - Simont BraunWebinar Exploring DORA for Fintechs - Simont Braun
Webinar Exploring DORA for Fintechs - Simont Braun
 
The European Unemployment Puzzle: implications from population aging
The European Unemployment Puzzle: implications from population agingThe European Unemployment Puzzle: implications from population aging
The European Unemployment Puzzle: implications from population aging
 
how can i use my minded pi coins I need some funds.
how can i use my minded pi coins I need some funds.how can i use my minded pi coins I need some funds.
how can i use my minded pi coins I need some funds.
 
Pensions and housing - Pensions PlayPen - 4 June 2024 v3 (1).pdf
Pensions and housing - Pensions PlayPen - 4 June 2024 v3 (1).pdfPensions and housing - Pensions PlayPen - 4 June 2024 v3 (1).pdf
Pensions and housing - Pensions PlayPen - 4 June 2024 v3 (1).pdf
 
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...
 
SWAIAP Fraud Risk Mitigation Prof Oyedokun.pptx
SWAIAP Fraud Risk Mitigation   Prof Oyedokun.pptxSWAIAP Fraud Risk Mitigation   Prof Oyedokun.pptx
SWAIAP Fraud Risk Mitigation Prof Oyedokun.pptx
 

Breakfast Event: Finance, Forestry & PEFC: How Is Forest Certification Relevant?

  • 1. Long Finance & PEFC PEFC/01-00-01 Promoting Sustainable Forest Management © Z/Yen Group www.pefc.org 2012 Finance, Forestry & PEFC: How Is Forest Certification Relevant? London, 25 October 2012
  • 2. Agenda PEFC/01-00-01 Promoting Sustainable Forest Management © Z/Yen Group www.pefc.org 2012 ♦  Welcome ♦  PEFC Forest Certification And The Finance Sector– Ben Gunneberg, PEFC ♦  What Does Certification Mean For Investors, Guarantors, Lenders and Traders? – Michael Mainelli, Z/Yen Group ♦  Q&A / Open Discussion on finance, forestry and certification
  • 3. PEFC Forest Certification and the Finance Sector Ben Gunneberg, Secretary General, PEFC International London, 25th October 2012 3
  • 4. What is PEFC? §  Global, not-for-profit, non-governmental organisation based in Geneva, Switzerland §  Voluntary mechanism promoting sustainable forest management providing independent, third party certification of good practices §  Alliance of national forest certification systems with global representation and an international chain of custody §  World's largest forest certification system and provider of two thirds of the world’s certified sustainably managed wood §  Certification system of choice for small family forest-owners 4 Programme for the Endorsement of Forest Certification
  • 5. Finance, Forestry & Certification Financial Significance Sustainability Significance § Global investment universe of § 17% of global CO2 emissions managed forests: ~300-500 bn § 1 in 5 people depend on forests USD (+100 bn USD by 2030) § 80% of terrestrial biodiversity § Physical assets § 10-15 bn USD assets and § Financial assets revenues lost annually from illegal § Lending, investing, banking, logging commodity trading, credit ratings Enhances the underlying asset value Reduces risk Sustainable Forest Management Standards, assurance, transparency and traceability 5 Forest Certification
  • 6. What is Forest Certification? Elements of Certification Certification Delivers Sustainable wood raw material is: •  legal: the wood is harvested following local legislation and international agreements and the forest owner has been compensated accordingly Forest Management Certification •  from well managed forests: forestry operations have been conducted maintaining forest s ecological, social Chain of Custody Certification and economic values •  traceable: the raw material supply chain is controlled and verified from the harvesting site up until finished products 6
  • 7. PEFC Sustainable Forest Management Requirements §  Requires compliance with all fundamental ILO conventions §  Tailored to specific needs ranging from company to family and community owned forestry §  Sets highest standards for forest certification aligned with the majority of world’s governments, including –  Maintaining & enhancing biodiversity –  Prohibition of forest conversions –  Prohibition of most hazardous chemicals, GMOs –  Protecting workers rights & welfare –  Encouraging local employment –  Recognizes principles of FPIC (free, prior, informed consent), UN Declaration on the Rights of Indigenous Peoples, ILO 169 §  Provisions for consultation with local people and stakeholders §  Exclusion of certification of plantations established by 7 conversions
  • 8. Relevance of Forest Certification to Finance Sector §  Globally recognized mechanism to codify sustainable forest management standards & verify practices §  Screening indicator for financial and ESG-related decision- making §  Provides assurance throughout the entire supply chain; strengthening of traceability §  Ensures long-term management of forest assets §  Elimination of illegal activities; deforestation of primary forests §  Improved access to markets §  Better environmental risk management 8
  • 9. Increasing the recognition of Forest Certification §  ESG issues have potential to create or diminish shareholder value so need to be managed §  Over 70 leading banks signed up to the Equator Principles for project finance. Principle 3 recommends compliance with IFC’s Performance Standards, including Standard 6 - Biodiversity which requires independent certification of sustainable practices. §  Following Rio+20 Earth Summit – 40 institutions have signed Natural Capital Declaration supporting development of methodologies to integrate natural capital considerations into decision making process for all financial products and services 9
  • 10. PEFC’s Global Presence - Non-endorsed system - Endorsed system 10
  • 11. Certification Globally 9% 26% 66% §  Only 9% of the world’s forests are certified §  Only 26% of the world’s industrial roundwood supply is certified §  66% of the total area certified is to PEFC 11
  • 12. Acceptance by Government Procurement Policies §  PEFC is recognised by the Belgian, British, Danish, Dutch, Finnish, French, German, Japanese, and Swiss Timber Procurement Policies §  Recommended by the European Commission Guidelines on Green Public Procurement §  EU Ecolabel §  European Retail Environmental Sustainability Code 12
  • 13. Acceptance by Other Procurement Policies §  Green Building Councils in Australia, Italy, and Singapore, the Code for Sustainable Homes, BREEAM in the Netherlands and the UK, and SKA rating in the UK §  Green Building Assessment Protocol for Commercial Buildings and the National Green Building Standard (US), and Built Green (Canada) §  Comprehensive Assessment System for Built Environmental Efficiency (CASBEE) Japan §  Singapore Environment Council 13
  • 15. UK Public Procurement CPET According to the assessment reports, the certification systems comply with the CPET criteria as follows: § FSC: 92%* § PEFC: 89% (97% for revised standard**) * for for chip and fibre products with less than 70%. certified material 15 Source: CPET 2010 Review of forest certification schemes ** own assessment
  • 16. Conclusions §  Forest certification provides benchmark and assurance tool of SFM practices and is one of several ESG indicators §  Helps to verify compliance and mitigate risk §  When investing in or lending to forest related projects: –  Screens for quality re selection/inclusion in funds and for projects /companies –  Risk mitigation tool when dealing with smaller enterprises §  When insuring forest – related activities: –  Increases assurances when providing insurance to forest enterprises – esp smaller actors §  When trading forest products including timber: –  Traceability and risk mitigation §  Should also be incorporated into financial institutions’ own procurement policies 16
  • 17. Why PEFC? PEFC is the world’s largest forest certification system 1. Basedon intergovernmental agreements & internationally recognized processes 2. Upholds highest SFM standards without exceptions 3. Intentioned to maintain focus on promoting Sustainable Forest Management 4. Level of stakeholder engagement equally high for all standards 5. Demands independence between the different aspects of the forest certification 17 BUILDing on local action, PEFC cares for our forests globally
  • 18. Further information about PEFC: www.pefc.org THANK YOU! 18
  • 19. Finance, Forestry & PEFC © Z/Yen Group 2012 What Does Certification Mean For Investors, Guarantors, Lenders and Traders? Professor Michael Mainelli, Chairman, Z/Yen Group
  • 20. Finance & forestry - who © Z/Yen Group 2012 ♦  Investors – individuals, companies, institutions, family offices, governments Ø Including investment managers or intermediaries acting on behalf of investors e.g. asset managers, private equity firms, banks ♦  Lenders – banks, capital markets, project financiers, trade financiers ♦  Guarantors – insurers, banks, rating agencies ♦  Traders – commodity traders, banking services, trade financiers ♦  In-house procurement
  • 21. ./0)1'232*.'+)2-+,'4'56*6'7./,)8 9,1):';*.-)'70<* $!! "! What - forest physical assets (1) & #!! ! © Z/Yen Group "!! 2012 ?& The IPD UK Forestry Index is calculated ♦  Long-term investment for ‘patient capital’ but ?"! ! from a sample of private sector "@@& "@@C "@@B "@@A "@@@ #!!! #!!" #!!# #!!$ #!!% #!!& #!!C #!!B #!!A #!!@ #!"! #!"" coniferous plantations of predominantly Sitka spruce in mainland Britain and in involving immediate returns (e.g. timber) =..'>3+)02+('9,1): >3+)02+('9,1): 2011 returned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`'6>OE'V%%DO+-*"'M7J"XL'6>OE'T]'G?%&#'M7J"X'C'D'/C',*#L'MU0'T]'V77$-%'M7J"XL'6)*"#&*,'H)22?##?)7')2?7-%'U*?1"'M7J"X')('H)7?("*)$#'O&-7J?7A'O-%"#' Z()*'G*"-&'I*?&-?7[ Source - IPD UK Forestry Index (2012) 12(.+()+$ $ $ $ $ I?JK"%%#L'I)*J"*'H)7#$%&-7&#L'H)76)*L'6MN'O"*P?1"#'Q?2?&"JL'6)*"#&*,'H)22?##?)7L'6)$7&-?7#'6)*"#&*,L'R?A+(?"%J'6)*"#&*,L'O1)&&?#+'S))J%-7J#L'TUN'>?%+?%%L' O&"%%-*'V##"&'N-7-A"2"7&
  • 22. What - forest physical assets (2) © Z/Yen Group 2012 Attractive… … but risky too ♦  Portfolio diversification ♦  Political (country) risk ♦  Low-volatility of returns ♦  Property rights ♦  Counter-cyclical ♦  Operational risks ♦  Long-term inflation ♦  Reputational risk hedge ♦  Investment risk Risk management and mitigation options: ♦ Diversification ♦ Insurance, e.g. property, investment ♦ Credit derivatives ♦ Securitization
  • 23. UK Too! © Z/Yen Group 2012 Forest operations in Scotland Source – PEFC UK
  • 24. What – forest financial assets © Z/Yen Group 2012 ♦  Forest-related financial product/asset deriving its value from a contractual claim Ø Timberland Investment Management Organisations (TIMOs), Forest Real Estate Investment Trusts (REITs) Ø corporate bonds in the forest, packaging & paper industry Ø thematic funds – SFM, timber Ø multilateral and government bonds issued to fund forestry-related activities Ø forest bonds Ø emissions credits – REDD+
  • 25. REDD and REDD+ © Z/Yen Group 2012 ♦  UN-backed ♦  Aiming to reduce emissions from deforestation and forest degradation ♦  Focus on developing countries ♦  REDD+ projects include conservation, sustainable forest management and carbon sinks enhancement ♦  Recent developments Ø REDD + - World Bank administered Forest Carbon Partnership Facility Ø REDD – BNP Carbon Finance US$ 50 m deal with Wildlife Works
  • 26. Forest bonds © Z/Yen Group 2012 ♦  Significant interest (IFC, WB) but no issuance yet ♦  To attract low-cost, long-term capital to project/ companies in sustainable forestry Ø Bonds issuance against various cashflows Ø Portfolio diversity, country selection and credit enhancement are key to risk mitigation and feasibility Ø Best (?) if issued by supranational entity
  • 27. Finance & forestry: other connections © Z/Yen Group 2012 ♦  Lending to or investing in: Ø Companies in the forest, paper & packaging (FPP) industry Ø Industries impacting on forests e.g. mining Ø Infrastructure development projects Ø Companies in sectors buying forest products (e.g. construction, retail) ♦  Banking services, e.g. to agribusinesses ♦  Commodity trading and trade finance, e.g. timber ♦  Countries’ credit ratings & sustainability
  • 28. Reports from the London Accord © Z/Yen Group 2012 ♦  UNEP FI – “REDDy - Set - Grow” (2011) ♦  Inrate – “The UN Year of Forests and Its Significance for Investors” (2011) ♦  Responsible Research – “Forestry in Asia” (2011) ♦  *Bank Sarasin – “Sustainable Fulfillment of Sovereign Obligations” (2011) ♦  Z/Yen Group – “Finance & Forestry: Where’s the Data?” (2010) ♦  Forum for the Future – “Forest Investment Review” (2009)
  • 29. Finance, Forestry & PEFC PEFC/01-00-01 Promoting Sustainable Forest Management © Z/Yen Group www.pefc.org 2012 Any Questions? Tropical forest Source - PEFC