Corporate private sector dimensions in planted forest investments

摘要

There has been a major change in forest land ownership over the past 30 years -from government and integrated forest product ownership to institutional, equity fund and high net wealth ownership. Most of this activity has been in the United States, but it has recently spread to a number of southern hemisphere countries and also to Europe, Asia and Africa. Over US$50 billion has been invested by North American institutions alone and new fund sources are emerging.rnInvestments in forest lands have shown a high return with a negative correlation to other investments and with low volatility over a prolonged period.rnInvestors consider a number of macroeconomic, political, commercial and biological risk factors when assessing investment opportunities. Several Asian countries exhibit their own set of investment risk challenges compared with other continents. Accordingly, investors ascribe high riskpremia to such investment opportunities. Changes in risk premia in several Asian and non-Asian countries between 2000 and 2007 are addressed.rnSeveral new forest land investment opportunities are emerging - in Asia and other regions, and they are also associated with global climate change/carbon and biofuel issues.rnCommercial investments in natural forest around the world hold their own increasing challenges as the global market place for wood products seeks sustainable assurances.