Dasos Dasos Capital Sustainable Timberland Investment Sustainable Timberland Investment Timberland as an Investment Dasos Timberland Funds Timberland Fund I Timberland Fund II Team Contact Q&A In english Suomeksi About us Dasos Capital Oy was established in 2005. We are an independent company whose majority is owned by the Management Team. We act as an investment advisor to institutional investors, endowments, private banks, family offices and other clients interested in sustainable international timberland investing. Dasos generates returns in the form of net cash flows from sustainable forest management, forest certification and from utilising identified market and management inefficiencies. In addition, we pursue complementary revenue from environmental services (e.g. carbon sequestration) and sale of higher and better use (HBU) lands. We also expect to realise additional long-term returns from timberland appreciation. With combined total volume of funds and assets at over EUR 600 million, Dasos Capital acts as an Investment Advisor for Dasos Timberland Fund I and Dasos Timberland Fund II, both private equity funds investing in sustainable timberland investments in Europe and emerging markets. The Funds' investors include Finnish and other European pension funds and endowments, family offices and other investors. Dasos Capital is a member of the Finnish Venture Capital Association (FVCA) and the American Chamber of Commerce in Finland. We have signed UN’s Principles of Responsible Investment and are a member of Finland’s Sustainable Investment Forum (FINSIF). Dasos Capital is authorised as Alternative Investment Fund Manager (AIFM) by the Financial Supervisory Authority (FSA) in Finland. Latest news 23.04.2018 Dasos reports on forestry-related Sustainable Development Goals (SDGs) The Sustainable Development Goals (SDGs) of the United Nations (UN) provide a globally agreed framework to map progress towards sustainable development at large. The SDG process explicitly calls on companies to address sustainable development challenges; assessing and communicating transparently about their impacts. The framework provides a general approach for integrating sustainable development into business operations by minimizing negative impacts and maximizing positive benefits on people and the environment, and reporting the outcomes. UN Secretary-General, Mr. António Guterres, notes that we need “all financial actors to align investments with the needs of climate action and sustainable development”. Dasos Capital answers to this call through certified sustainably and climate-smart forestry, and by reporting about related sustainability performance. Starting in 2018, Dasos Capital reports on the core SDG-based indicators and metrics that capture our tangible and sustainable impacts on the economy, the environmental and society. Reporting demonstrates our commitment to making sustainability investable, through value creation activities that account for core economic, environmental and social benefits. SDG reporting complements Dasos Capital’s current annual reporting as a signatory to the Principles of Responsible Investment (PRI); the world’s leading proponent of responsible investment. It also further strengthens Dasos Capital’s environmental, social and governance (ESG) efforts and contributes to informing all key stakeholders, and society at large, about the company’s work. SDG reporting is also meant to inform current and possible future investors, who want sustainable investment targets that align with their investment strategies and indicators and create value while controlling environmental and social risks. Each indicator that we report on is carefully selected from the Global Impact Investing Network (GIIN)’s IRIS catalogue and Global Reporting Initiative (GRI) Standards. Reporting on our SDG progress Dasos Capital continues to be at the forefront of meeting global investors’ needs for information on the company’s sustainable development contributions. Reporting on progress within the SDG framework also helps ensure that our forests contribute to a sustainable development pathway for our economy, society and planet. For further information, please contact Brent Matthies, tel. +358 45 665 1445, brent.matthies(at)dasos.fi 15.04.2018 Dr Cormac O’Carroll joins Dasos as Senior Advisor Dr Cormac O’Carroll has until recently served as Global Practice Head at Pöyry Management Consulting, leading and coordinating Pöyry´s assignments in the fields of forestry, biomass and wood industries. Cormac’s previous positions include CEO at Pöyry Management Consulting (London) Ltd and marketing/strategic planning roles at Jefferson Smurfit Group. Cormac is a widely known and recognized expert in the field of forestry and timberland with extensive world-wide exposure. For more information, please contact Cormac O’Carroll +44 7767 623 457 or Olli Haltia +358 40 901 0338 05.02.2018 Finsilva forests receive FSC® certification Finsilva Plc is one of the largest independent forest owners in the Northern Europe holding approximately 130,000 hectares of forest constituted mainly of Scotch pine, Norway spruce and birch stands in southern and central Finland. Dasos Timberland Fund II with its investors owns 50.1% of Finsilva Plc. The entire forest area of Finsilva Plc has now received dual-certification by both PEFC™ and FSC®. Third-party certified forests indicate sustainable management and responsible use. "Demand for FSC certified wood is increasing in the market and we feel that FSC® certification is beneficial to Finsilva," says Harri Viitaniemi, Managing Director of Finsilva Plc. Approximately 600,000 m3 of pulpwood and sawlogs are harvested annually from Finsilva-owned forests. Finsilva's wood trading partner is Metsä Group. FSC certification has some impact on forest management. FSC certification requires, inter alia, that 5% of the certified area is permanently protected. In addition, 5% of the area is treated with special harvest protections. Finsilva’s FSC licence code is FSC-C139460. For further information, please contact Harri Viitaniemi, tel. +358 50 370 6902, harri.viitaniemi(a)finsilva.fi 08.12.2017 Strong Forest/Wind Synergies in Ireland In Ireland, wind turbines generate about 25% of Ireland's electricity demand. This represents one of the highest electric grid wind power penetration levels in the world. Ireland's more than 200 wind farms (with min 3 wind turbines) are almost exclusively onshore. A typical wind park consists of several, say up to 10-20 turbines, and each turbine plus the required road infrastructure occupy some 1-2 hectares of land. Given the fact that the required distance between turbines is several hundreds of meters, wind power requires large areas of land which can be supplied by forestry entrepreneurs. Due to the very fragmented structure of forest ownership in Ireland, a wind farm developer normally has to reach an agreement with several land owners before launching the project. The transaction cost for wind power is reduced with the consolidation of forestland. Dasos has recently signed the first wind power development agreement, and there are several further cooperation ventures under discussion with several wind farm developers. From forestry point of view, a wind power project represents a scope for HBU (Higher and Better Use) of land, and the revenue streams at an individual property level can be significant. On larger portfolio scale, the main value creation will continue coming from the production of wood. Further information: Petteri Seppänen petteri.seppanen (at) dasos.fi +358 40 728 2819 25.10.2017 Efficiency in the conservation market can be raised by private financing Dasos Capital publishes an article in Environmental Finance “How private finance can raise efficiency in conservation markets”. The European Union’s 2011 Biodiversity Strategy obliges Member States to halt net biodiversity loss by 2020. However, the midterm review of that strategy noted considerable efforts were still required to halt the loss of ordinary biodiversity. A recent review of network funding found a gap for public conservation finance of 80%. Private finance offers a way forward to fulfil existing financing gaps. Over-the-counter (OTC) biodiversity offsets, executed with individually created case-by-case conservation contracts, create greater market liquidity and efficiency, while addressing the principles of additionality and permanence. Socially and environmentally-friendly actions can be achieved through investments in conservation assets, and increase the liquidity and functioning of the conservation marketplace in parallel. To learn more about private conservation finance kindly read the article Laininen and Matthies: How private finance can raise efficiency in conservation markets. Environmental Finance 12.9.2017. ./dz/documents/How%20private%20finance%20can%20raise%20efficiency%20in%20conservation%20markets%20Environmental%20Finance.pdf For further information, please contact Brent Matthies, brent.matthies(a)dasos.fi or Jenni Laininen, jenni.laininen(a)dasos.fi. 21.09.2017 Jari Mikkola joins Dasos as Financial Manager Mr Jari Mikkola (M.Sc. Econ) has joined Dasos as Financial Manager. He has previously worked at Indufor Oy as Chief Financial Officer. Jari has expertise in financial and management accounting. At Dasos, he is responsible for back-office financial management. Archive × SUSTAINABLE Environment Social and environmental sustainability underlie all our timberland investments. We see timberland investment as an ethically and socially responsible activity in itself contributing to sustainable development while generating profits to investors. We are committed to an investment philosophy that integrates rigorous timberland investment analysis with creation of innovative ways to enhance returns also from forest-based environmental services, such as carbon, biodiversity and landscape conservation. We put great emphasis on SRI/ESG issues. We have adopted a comprehensive Forest Investment Policy, which incorporates ESG-related principles as well as forest-specific environmental and social policies and guidelines. All investments are made in accordance with the Equator Principles and the EC’s and IFC’s environmental and social safeguard principles. Dasos Team has long experience in social and environmental aspects of forest management in various environments in addition to a broad technical know-how crucial in ensuring highly productive forestry combined with enhancement of societal development objectives. Certification We have a policy of investing only in forests that are certified or are certifiable to demonstrate that the forest management in the invested asset is economically viable, socially acceptable and ecologically sound. The certification of forest assets adds value to the timberland asset, improves market access, demonstrates sustainability through independent annual audits, and mitigates social, environmental and reputational risks. Certification also provides the platform and framework for planning, implementing and monitoring sustainable forest management at a project (investment) level. We are open to all accredited certification systems including FSC, SFI and PEFC. In the emerging markets and tropical and sub-tropical forests, the FSC scheme is of special importance because of its global nature and the potential to improve risk-adjusted returns. The key principles of the internationally endorsed forest certification schemes are integrated in our environmental policy and implementation guidelines. Close × TIMBERLAND Wood Population and GDP growth trends will drive demand for industrial forest products, and thus for fibre and logs; the global demand for wood is increasing steadily. Based on long-term historical data, real wood prices have increased by about 1.5% annually. Forest product demand and price trends are positive for timberland investment as whole, with considerable regional and country variations. We will aim at utilising investment opportunities derived from regional and country demand-supply imbalances and identify countries that have comparative advantages in supplying wood fibre to deficit areas. Climate and Bioenergy Climate change and environmental policies are creating the demand to have more land under sustainable forest management. Carbon and other non-timber markets can provide diversification benefits and an upside to investment returns. Increasing popularity of "Green Buildings or Zero-carbon Buildings" and other green products promotes the use of renewable materials, especially wood. Bioenergy related wood revenue has increased in significance over the past five years. This trend is driven especially by EU's renewable energy (RES) policies and higher energy prices. The use of wood biomass for energy will provide additional revenue from timberland investments; in some areas competition for wood fibre will likely drive up wood prices. HBU In addition to value creation via intensive, sustainable forest management, we identify opportunities for HBU (High and Better Uses) sales of selected timberland lots e.g. for recreation, especially when it can simultaneously contribute to rationalising the forest resource base. Close × INVESTMENT Diversification We aim at a well-diversified global timberland portfolio which combines the aspects of geographical, age and wood fibre as well end-use diversification. A relatively broad species/end-use mix offers diversification in terms of price exposure, changes in market conditions, natural risks, timing of harvests and rotation cycle. Investment into mature harvestable forests generates immediate, more secure returns while investment into younger assets provides potential for increasing yields and appreciation. Country diversification helps with addressing regional market variations, environmental and economic policy and related regulatory risks, and natural disaster risks as well as with providing exposure to climate zones with unique growing conditions and return potential. Biological asset Dasos focuses on what it sees as the primary driver of revenue generation, i.e. growing and harvesting trees sustainably and profitably with the objective of maximizing benefits from biological growth. Value is enhanced mainly by improving forest management, reducing inefficiencies in harvesting and marketing as well as improving the strategic positioning of the asset, e.g. through expansion or certification. For institutional investors, biological growth has unique features because trees grow all the time regardless of economic events or market fluctuations resulting in a predictable and positive carry and providing a natural inflation hedge. Additional revenue from environmental services is actively sought for but in most cases we see it as a complementary source of revenue. The ongoing discussions on the follow-up Kyoto agreement have increased the importance of forestry carbon credits, including those derived from avoided deforestation (REDD). SRI/ESG We put great emphasis on SRI/ESG issues. We have adopted a comprehensive Forest Investment Policy, which incorporates ESG-related principles and forest-sector specific environmental and social policies and guidelines. All our investments are made in accordance with the Equator Principles and we have also adopted key EC’s and IFC’s environmental and social safeguard principles. Our policy is to communicate openly about the environmental and social impacts of our operations. Close Our website uses cookies to make your browsing experience better and more personal. By continuing to use our site, you agree to our use of cookies. 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