Pension Fund Investment in Forestry
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World Bank, Washington, DC
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A forestry investment can include land
suitable for growing trees, the trees themselves, or both.
Forestry has long provided opportunities for institutional
investors but the scope for this investment remains limited.
Forestry investment can offer financial and environmental,
social, and governance (ESG) benefits. However, challenges
to investing in forestry are significant particularly in
emerging markets, which is also where reforestation,
afforestation, and sustainable forest management is most
needed. Currently, there is a lack of both knowledge about
and interest in the forestry asset class. This report
addresses this by detailing the nature of forestry
investments, explores the case for investing in forestry,
explains the mechanics of forestry investments, and
highlights some of the challenges. The report concludes that
the time is right to support broader involvement by pension
plans in forestry investments globally.
Palabras clave
PENSION FUNDS, FORESTRY INVESTMENT, TAX TREATMENT, ENVIRONMENTAL SUSTAINABILITY, SUSTAINABLE GROWTH, DISASTER RISK, EXPECTED RETURNS, DIVERSIFICATION, DISCOUNT RATE, PENSION REGULATION, LIQUIDITY, COUNTRY RISK, FOREIGN EXCHANGE RISK, EMERGING MARKET ECONOMIES, INVESTMENT STRATEGY