From acacia forest plantations to tropical forests - ForestFinance
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EN_brochure_GA_screen_2019_Jaguar_2011 28.01.2019 15:33 Seite 1
All information as of January 2019
Investment with a contract term of only seven years
From acacia forest plantations
Photo: feller, unsplash
to tropical forests
jaguar
Since October 2018 ForestFinance is certified
by FOCUS-MONEY, a German top business
magazine, as one of the best investment Direct forest investments with a short contract term
companies in Germany.
and sustainable commitment
EN_brochure_GA_screen_2019_Jaguar_2011 28.01.2019 15:33 Seite 2
We are building forests – join us!
More and more people look for investments are managed in an ecologically sustainable
that are based on real assets and generate way. Sustainably managed forests are beco-
sustainable returns without relying on stock ming more significant and their products
markets and speculation. This applies to more valuable. Due to their key roles as an
forest as a real asset. Its monetary value is ecological energy source, wood supplier,
based on renewable raw materials, which gene pool for plants and animals, their air
are in great demand. It does not rely on and water filtering functions, forests will
expectations placed on stock exchanges or become more important and commercially
Top: Row for row, the first year acacia seedlings stand in the sandy on virtual profits from bets on the financial valuable.
savannah soil. Their ability to enrich the soil with nitrogen and to
market. ForestFinance has been building
aerate it with their roots is a precondition for new mixed forests.
Top left: The lush green of the acacia leaves is evidence of the en- forests for almost 25 years. Join us The ForestFinance Group stands for sustainable
vironmentally friendly organic fertiliser that is individually produ- and plant acacia trees in Colombia with us: forestry with a decades-old tradition that is able
ced for the soil by experienced forest managers. to provide the industry with raw materials. Our
Top right: Richard Focken, manager in the ForestFinance Group GreenAcacia Jaguar areas in Colombia have
and Petra Kollmannsberger, Managing Director Latin America, are GreenAcacia forest plantations are particularly
already been reforested with Acacia man-
impressed by the excellent growth of the almost two year old aca- suitable for the step-by-step transformation into
gium trees in 2012. The investment also in-
cia trees. Photos: ForestFinance a biodiverse mixed forest.
cludes the forestry management.
GreenAcacia Jaguar creates a real asset, the raw Regions in northeastern Colombia have been
material wood, which is efficiently processed deforested for several hundred years, resulting
and used. This is a proven business model in in nutrient-deprived soils. The tree species Aca-
a market with a high demand for biomass cia mangium is very well suited for reforesting
and premium woods. these areas, as it greatly improves the quality of
the soil. This species accumulates nutrients and
Sustainably managed forests become more
Content Page protects and cleans the soil, making it the per-
significant and their products more
We are building forests – join us! 2 fect tree for the intermediate step to renatura-
Colombia as a location for new forests 3
valuable.
tion or near-natural forestry management. In
Our offer at a glance 4
Since 1960, the global consumption of wood addition to efficient timber production, Acacia
Yield development model and forecasts 5
has increased continuously, resulting in a mangium provides habitats for numerous na-
Risks – in all frankness 6
large gap between supply and demand. This tive plant and animal species, filters water, and
Economic, ecological and social sustainability 8
Our concept – your benefit 9
high demand can not be satisfied without has a positive influence on the global climate by
Project areas chosen for a biodiversity study 10 the unsustainable and partially criminal ex- storing CO2.
The right conditions for good teamwork 11 ploitation of natural forests. Wood from plan-
Imprint – contact information 12 tations can play a crucial role in easing the
pressure on rainforests, if these plantations
2 GreenAcacia Jaguar
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jaguar
Colombia as a location for new forests
Colombia is the third largest economy in In the long run, however, this method severely
South America, ranking 40th worldwide. harms the soil through erosion.
Above all, the Colombian economy is stimu-
lated by an increasing domestic demand and To stop this development, the Colombian
high foreign direct investments. Free trade government has been promoting reforesta-
agreements with the USA, the EU and Ger- tion projects in Vichada: by now, more than
many further boost economic growth. 60,000 hectares of forest plantations have
been reforested with mostly tropical pine
The new inner stability and safety makes An Ara sighted in the region in Colombia where the ForestFinance forest
trees, Acacia mangium or jatropha plants. plantations are planted.
this booming country even more attractive
160,000 more hectares of forest plantations
for foreign investors.
in the region are to be established by 2019.
Over the past ten years, the whole environ-
These are excellent conditions for investors
ment, in particular the safety situation, has
in particular as the technical knowhow in
constantly improved in Colombia, resulting in
forestry is on a high level.
a positive impact on the development of agri-
culture and forestry. In the years to come, the The ForestFinance areas, including the
Colombian government is planning to unlock twelve hectares of GreenAcacia Jaguar, are
the forestal potential of 1.3 million hectares of situated close to the Orinoco river. The river
land. New forest projects are promoted by banks provide a refuge for many plants and
means of tax concessions grants for forest animals, which helps the ecosystem and in-
certifications. creases the biodiversity in this region.
The Colombian government supports refore- The Acacia mangium forest plantations are located in eastern Colom-
The whole GreenAcacia area has a great bio-
station projects bei offering technical assis- bia, in a region where several forestry companies are already opera-
diversity potential, which will help us regrow ting. Many animals live on these areas, such as the Ara chloroptera
tance and economic incentives.
mixed forests in Vichada within the next 50 (top picture).
Situated on the edge of the “Llanos” (plains) of to 100 years.
east Colombia, Vichada is the second biggest We keep bee colonies in our forests in Colombia, not only to pollunate
province of the country. Most of the approxi- the plants, but also to produce honey, which is sold on site.
mately 70,000 inhabitants are fishermen, far- Photos: ForestFinance
mers or cattle breeders who live in the wide and
sparsely populated areas. Many forests have
been, and to some extent still are, destroyed
by the slash-and-burn method in order to gain
farmland. The ash remains on the soil and
improves the growing conditions for food
plants for a short period of time.
GreenAcacia Jaguar 3
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Our offer at a glance
Investing in GreenAcacia Jaguar means investing in an existing Acacia mangium plantation in
Colombia, which was already reforested in 2012, with a contract term of only seven years.
GreenAcacia Jaguar: investment overview
Contract term Investment Returns (IRR*) Payouts Forestry concept
approx. 7 € 2,125 (0.25 ha) approx. 5.0 % one final payout at Acacia forest plantations are
years, € 4,150 (0.5 ha) approx. 5.4 % the end of contract gradually converted into
until 2025 € 6,175 (0.75 ha) approx. 5.5 % term mixed forests
€ 8,200 (1 ha) approx. 5.6 %
*IRR (Internal Rate of Return) is a method of dynamic investment calculation which is used to calculate the average annual return.
A one year old Acacia mangium tree on our forest areas in Colom-
GreenAcacia Jaguar consists of two independent vice provider. It is up to the provider to choose the
bia. The acacia trees grow remarkably fast. After only one year, the
contracts: a property lease contract and a forestry harvest time to ensure the best economic and
trunk is already too thick to be grasped by hand and has a height
service contract. forestal outcome.
of two to three metres. Despite its rapid growth acacia wood is
quite hard and robust and shows a fine and shiny surface which is
very popular with furniture manufacturers. If acacia trees are The calculated returns in approximately year seven Please see pages 6 to 7 for more information
harvested in early stages they end up as wood chips in the paper (see page 5) are based on projected timber sales on risks and safety concepts.
industry. Photo: ForestFinance that are scheduled and organised by our forest ser-
Acacia mangium growth data of the Jaguar area reforested in 2012
Tree height (in metres)
14.00
12.00
Tree height (in metres)
10.00
Good growth In June 2016, about four years after the planting of
Medium growth the acacia trees, the first measurements on the
8.00
forest area “Jaguar” showed good results regarding
6.00 Low growth
height of trees and timber volume.
4.00 2016 measurement
2.00 Compared to similar plantings, the timber volume
0.00 was within a good range, the height of the trees
Age of tree
Baumalter: even exceeded comparable figures.
New measurements are scheduled for the end of
Timber volume/area (in cubic metres) 2018. Our investors will find the latest results in our
growth and activity reports.
250.00
Timber volume/area (in cubic metres)
200.00
Illustration: 2016 monitoring data/ForestFinance
Good growth
150.00
Medium growth
100.00 Low growth
2016 measurement
50.00
0.00
Age of tree
Baumalter: 4 GreenAcacia Jaguar
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Yield development model and forecasts for GreenAcacia Jaguar
Calculation parameters: harvest yields and prices for biomass and timber
Area Expected Expected share of Price per m3 Expected share of Price per m3 timber Total proceeds at the end of Return
harvest yields biomass biomass timber contract term less harvest costs (IRR*)
0.25 ha 55 m3 65 % approx. € 30 35 % approx. € 137 approx. € 3,000 approx. 5.0 %
0.5 ha 110 m3 65 % approx. € 30 35 % approx. € 137 approx. € 6,000 approx. 5.4 %
0.75 ha 165 m3 65 % approx. € 30 35 % approx. € 137 approx. € 9,000 approx. 5.5 %
1 ha 220 m3 65 % approx. € 30 35 % approx. € 137 approx. € 12,000 approx. 5.6 %
*IRR (Internal Rate of Return) is a method of dynamic investment calculation which is used to calculate the average annual return.
Investing in GreenAcacia Jaguar means investing in a natural raw We consider the scenario shown above to be the most realistic
material. Thus, the success depends on natural factors such as the expectation. However, changing factors such as harvest yield,
climate, soil, etc., which have an influence on the timber quantity quality and prices can lead to different results. Upward and
and quality as well as on proceeds from sales that can be achieved downward shifts are possible.
on the market. Every change of one of the calculation parameters
(such as harvest yield, quality and price) has an influence on the
total result.
The yield forecasts are based on future assumptions, especially on Please note: our yield and return forecasts are regularly adjusted to current market
subjective goals regarding the future development of the harvest developments. Not only to better inform people interested in our investments but
also because we include current market data and real experiences in our calculations.
quality and sale prices for biomass and timber, which are naturally
For this reason, you may find deviating calculations and return forecasts in different
linked with uncertainties. publications. All of our calculations in this brochure are based on a euro exchange
rate of 1.10 US dollars.
The limited amount of twelve hectares of GreenAcacia Jaguar is located in this area in "Colombia from above": you will find more information on our reforestation projects in Colombia in
Vichada, Colombia. this film. Visit our media library at: www.forestfinance.com/media-library
GreenAcacia Jaguar 5
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Risks – in all frankness
GreenAcacia Jaguar is a direct investment in Every person interested should consider this direct forest investments in the EU.
the raw material timber. The economic result aspect in the process of decision-making.
is not certain yet and can only be forecast. As one of the first German providers we have
There are no guarantees for those forecasts. At the ForestFinance Group, we respond to those already repeatedly distributed returns to our
An investment in GreenAcacia Jaguar is no deposit risks with our long-term experience and numerous customers gained from harvesting and selling
banking. This means there is no deposit insurance successes as a provider of forest investments: timber from ForestFinance forests.
like there is for bank deposits. Therefore, this direct our forests are partly more than 20 years old
investment is linked to significant risks and can even and with over 19,000 customers,
lead to the total loss of the invested capital. we are among the leading providers of
Risks Safety measures
Firstly, there are natural risks such as natural disasters, fire and pests, which have a significant influence on proceeds from We rely on efficient measures that have proven them-
sales due to their impact on the harvest quantity and quality of the timber. Please see next page for a risk analysis. selves for more than 20 years.
There is no trading market comparable to the securities market (restricted fungibility). Thus, a premature, individual sale We help investors and work together towards the best
of the investment is not guaranteed and could be linked to significant financial losses. possible solution.
The financial situation of ForestFinance could influence the capability of ForestFinance to deliver the forestry service and In the course of two decades, we have proven our
management as agreed upon in the contract during the contract term, which could impact the harvest quantity efficiency. The business reports with audited balance
and quality. sheets are published annually.
Currency fluctuations could have an impact on the payout of harvest returns. You are investing in the real asset wood. For the
most part, its value is independent from worldwide
exchange rates.
The political situation in Colombia and possible political distortions in Latin America should be mentioned, as well. It can We closely observe the developments in Latin America
not be ruled out that such developments could complicate or even prevent the access to the forest areas and their and are able to react to them together with our long-
management. term partners on site.
Trust through transparency:
At www.forestfinance.com, you will find statement of ForestFinance. In our activity
information on our work and the quality and forestry reports, you can inform yourself
management as well as up-to-date about the corporate environmental footprint
reports. We annually publish business or the developments and activities in your
reports including information on the si- forest areas. We always provide the newest
tuation and the corresponding evaluation, figures and data of your forest for you in our
outlooks and goals as well as the financial customer area.
Our investors can watch their own forest grow in our customer area.
6 GreenAcacia Jaguar
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Probability of occurrence and safety measures
Risks that are, in the opinion of the forestry ma- forestry manager, most likely. Even if the
nager, linked to the investment, are classified in forestry manager has taken all measures to
the following scheme under the aspects risk iden- ensure the economic success of the invest-
tification, probability of occurrence, extent of ment, damages that could lead to a total loss
damage and risk management. Each risk is of the investment cannot be ruled out
attributed with the risk classes high, average or entirely.
low. These are the risks that are, according to the
Risks Storm Fire Pests Timber prices Mismanagement
Risk identification Heavy storms, hurricanes Forest fire during dry season Strong infestation, e.g. by Strong fluctuation Flaws in the forest
Gusano Mariposa (a leafea- management
ting worm), Comegen
(wood worm) or Hormiga
Arriera (leaf-eating ant)
Probability of Low; up to now, only 1.4 % Average; up to now twice in Low for strong infestation; Average; there are strong Low; there are hardly any
occurrence of the total ForestFinance six years due to lightning pests occur but are control- fluctuations on the interna- reference values available,
acacia forest plantations strikes led immediately with ade- tional markets, when single constant improvement
have been affected by wind- quate measures events such as strong storms process since 2006
throw; heavy storms are not in Asia result in a temporary
known in this region oversupply of certain kinds
of timber
Extent of damage High; no damages known up High; losses up to now High; up to now no dama- Average; since the time of High; flaws or lack of
to now below one hectare out of ges known in a radius of harvest is not set, price knowledge of forest
3,500 hectares (0.03 per 60,000 hectares fluctuations can be manager can have negative
cent loss in eight years) addressed flexibly impact on growth; no
known damages up to now
Risk management Establishment of the fincas Round the clock fire patrols Regular control by a forest The forest companies in the ForestFinance areas are
in regions where there are on site by our employees; pathologist (“forest region are planning their considered prime examples
no tropical cyclons. Selection 10 to 15 metres wide fire doctor”), who examines own sawmill and biomass of forestry in this region
of trees with strong root protection stripes; fire insu- the forest in regard to power plant to become more followed by other forest
systems; deep soil loosening rance based on general insu- diseases; Hormiga Arriera independent from the inter- managers; the soil is ploug-
supports deep roots; rance conditions covers fire is controlled by use of an national market regarding hed up to one metre deep;
Restricted time in tree risks organic orange concen- the unprocessed trunks samples of the leaves and
nursery, to prevent roots trate; no monocolonial the soil are examined on a
from untwisting in the plantings: approx. five regular basis to optimise
planting pot; since 2016 in- different acacias from Aust- nutrients; experiments with
surance for investors against ralia, Brazil and Colombia indigenous tree species
windthrow are used; after pruning, the
cuts are tended immedia-
tely to prevent invading
pests
GreenAcacia Jaguar 7
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Economic, ecological and social sustainability
Economic: We believe in values. This includes values that mean a fair profit for
the investor. All “stakeholders” shall receive their part of the natural
added value: the investor, the people on site, the forestry manager, na-
ture. We do not aim to achieve maximum short-term profits. Instead,
we prefer sound middle and long-term returns gained from natural
real assets.
Social: We put the people at the heart of our activities. We know that
safety and success are only possible in the long run if we integrate and
motivate the people on site to protect the newly created forests. We
plan and develop for the future and for future generations.
Ecological: We create new forests. Over the next 50 years plantations are trans-
formed into mixed forests, which consist of mainly native tree species.
We have reforested thousands of hectares of land that used to be rug-
ged, overgrazed savannah. Certification is issued in accordance with
the highest climate protection and social standards.
Many years ago Horacio Pulido has prepared the soil for reforesta-
tion and planted the first acacia trees on the ForestFinance fincas
in Colombia. Photo: ForestFinance
This is our understanding of “social forestry“ and the “social impact“ of our
activities:
No discrimination of gender, belief, race, re- qualified jobs; further education possibilites
ligion, sexual orientation or other criteria; li- on site e.g. at beekeeping facility;
teracy courses for our employees; micro further education by means of courses in
credits for family members of our forest wor- forestry and work safety.
kers; long-term safety and improvement of
ForestFinance was awarded the German CSR award which
living conditions; wages and social benefits
acknowledges our sustainable forestry concept and our
transparent practices in all our operations. above the local standard; creation of
Photo: CSR certificate
International standards – what does it mean?
We stick to our word – ForestFinance is cer- Colombia are also certified according to Gold
tified by Focus Money, a German top business Standard guidelines, which proves our eco-
magazine, as one of the best investment com- logical and social way of management.
panies in Germany. As we have successfully
done in other countries, we adhere to the
guidelines of sustainable forestry in Colom-
bia, as well. Our acacia forest plantations in
These are the 17 Sustainable Development Goals by the UN.
This means:
They serve as guidelines to companies to act in a sustainable
manner. Since the very beginning, sustainability has been » Maintaining the rights of indigenous peoples
the core issue of the ForestFinance corporate philosophy; » The forest management will preserve or enhance the social and economic welfare
many of these SDGs have already been successfully included of ForestFinance employees and the local population in the long run
in our day to day business for years.
Photo: Screenshot
» Economic efficiency and product variety
» Conservation of biodiversity, protective functions of the forests and landscape
» Plantations can provide social and economic advantages as a supplement to more
natural forestry concepts and reduce the pressure on natural forests
8 GreenAcacia Jaguar
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Left: We grow resistant seedlings in our own tree nurseries for our
forests. Right: A white-tailed deer (Odocoileus virginianus) in our
GreenAcacia forest plantation in Colombia. We transform the forests
into near-natural mixed forests step by step, providing even more
Our concept – your benefit animals and plants with a new habitat. Photos: ForestFinance
Stability Quality
S almost 25 years of experience with prove Sinvestment in a designated plot of land on an
success; customers have already received existing Acacia mangium forest plantation
payouts from acacia forests S cooperation with an experienced Colombian
S Colombia is a member of the World Bank, the forestry service provider, soon to be certified
WTO, the IDB (Inter-American Development S ForestFinance subsidiary supervises forest
Bank) and the IMF management on site
S more than 2,500 hectares of savannah have
been reforested with acacia forest plantati-
ons; the project is considered a prime exam-
ple in this region
Ecology Social benefits
S transformation of Acacia mangium forest S creation of permanent jobs in rural regions
plantations into mixed forests creates new of Colombia
habitats for animals and plants S training and qualification of employees at a
S better water storage and filtering perfor- high level, thereby improvement of living
mance of the forest and erosion control due conditions
to improved forest management concept S fair payment with corresponding fringe
S positive impact on both local and global benefits
climate
Photos: ForestFinance, jaguar: shutterstock.com
We often find traces of the shy jaguar on our fincas. It hunts deer and other animals living in the GreenAcacia forests.
Thus, the acacia forests are valuable migrating corridors and perhaps even a future habitat for these rare big cats. Acacia forests also
help protect their highly threatened habitats as well as natural forests. The annual worldwide consumption of logs amounts to 4,000
million cubic metres, with a rising tendency. In order to satisfy this demand, precious forests are being destroyed (areas about the size of
Germany each year). Sustainable forestry and transformation of monocultures into near-natural forests can end this vicious circle: they
provide wood, natural forests need not be destroyed and much needed new ecosystems come into existence.
ForestFinance forests have proven this for more than two decades.
By the way: many rare animal and plant species live on our forest areas! For more information, please see page 10 and our media library
at www.forestfinance.de/en/media-library where you will find our biodiversity reports that are published annually.
GreenAcacia Jaguar 9
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Project areas chosen for a biodiversity study by the WWF
In September 2014 our forest areas were cho- Five of the bird species belong to the indicator
sen as one of four project areas where the pilot species, depending on areas of high conserva-
project “Promoting biodiversity conservation tion value (important bird areas as stated by
on privately managed productive forest areas Birdlife International). These species have an
and pasture land” will be implemented. The international impact on the conservation of
survey will be conducted by the WWF within biodiversity:
the scope of the United Nations Development
Turkey buzzard (top) and Southern lapwing (bottom) live on Programme (UNDP) during a period of three
» Neotropic cormorant (Phalacrocorax brasi-
the ForestFinance project areas and belong to the indicator
years. Its objectives are to examine the influ-
lianus)
species depending on areas of high conservation value. Natu- » Little blue heron (Egretta caerulea)
ral forest remnants remain on the ForestFinance areas while ence of private forest projects on biodiversity
» Buff-necked ibis (Theristicus caudatus)
the animals and plants living there are protected. in the region, and to determine whether the
Photos: ForestFinance, wikipedia/Samuel Blanc (Turkey buzzard), » Turkey buzzard (Cathartes aura)
wikipedia/Dario Sanches (bottom)
projects have a positive impact. Our project
» Southern lapwing (Vanellus chilensis)
areas in Vichada are part of the protection pro-
gramme, which is showing impressive results:
a total of 645 animal and plant species were The region is also crucial for the survival of
recorded in this area. the jaguar. The farm is located in the middle
of the migrating corridor of the wild cats and
The first biodiversity monitoring was con- each of them is welcome.
ducted in March 2014. During the bird moni-
toring a total of 94 bird species were identified
by scientists Fiorela Delgado and Álvaro Ve-
lásquez.
In addition to six migratory bird species, pas-
sing Colombia on their way south or staying
there temporarily, there were also species
among them that are of particular significance
for the conservation of biodiversity.
10 GreenAcacia JaguarEN_brochure_GA_screen_2019_Jaguar_2011 28.01.2019 15:33 Seite 11
We have built accommodations for the forest workers in Vichada
and provide them with a warm lunch. As they live far away from
big cities and their families, a comfortable living situation is
The right conditions for good teamwork crucial for a good working environment.
Photos: ForestFinance
The ForestFinance project areas are located fairly-paid job, which is very difficult to find
two driving hours from Puerto Carreño. in this region.” Apart from the material
Since 2007, an average of 35 men and aspects, she appreciates that nature returns
women from all regions of Colombia has to the region, which used to be densely co-
been working here on reforesting the savan- vered with trees: “There are deer in our
nah. “There is no city around, no supermar- forests, that weren’t here ten years ago. Also,
ket, no electricity,” reported Oliver Ristau jaguars cross the land. Sometimes, they in-
Luisa Azabache has a degree in agricultural sciences and manages the
for Deutsche Welle, who visited the project vade our farm in the night to feed on our
reforestation projects in Colombia.
site in 2014 (you can read his article at chickens. We accept that”.
www.dw.com/p/1BNau). Thus, the team
managed by ForestFinance agricultural We are happy to have found such committed
engineer Luisa Azabache and Roman employees and make their lives as comforta-
Jaramillo has to organise everything on its ble as possible, hoping they will happily stay
own. “Chicken and chicklets scratch the for a long time. This includes fair payment,
ground, horses and cattle stand on social benefits and adequate accommoda-
company-owned pasture land. A diesel ge- tion, also in the interest of our investors.
nerator and solar panels produce electricity,”
Ristau describes the rural idyll.
Luisa Azabache likes working here, even
though she lives far away from civilisation
and her family. She has just started her own
in Vichada and is glad she is able to reconcile A ForestFinance employee survey showed
her job with being a mother: “ForestFinance that our employees identify themselves
supports me and my family to a great with the company and are very happy with
degree. I am happy that I found a secure and their work.
GreenAcacia Jaguar 11EN_brochure_GA_screen_2019_Jaguar_2011 28.01.2019 15:33 Seite 12
01-2019 (D) Subject to changes, errors or misprints.
www.forestfinance.com
The Gold Standard is an internationally
renowned climate protection standard
Published by and responsible for: which includes social and ecological
Forest Finance Panama S.A. aspects. ForestFinance is one of the first
Edificio #146 companies worldwide to receive
Clayton - Ciudad del Saber Gold Standard certification for landuse
projects for its forest and cocoa areas.
Panamá Ciudad
Rep. de Panamá
Managing Director: Petra Kollmannsberger
ForestFinance Service Centre
EN + 49 228 943 778-0
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