Published on 12th January 2022
Investment in forestry and afforestation assets contributes to climate change ambitions.
NatWest Trustee and Depositary Services has been appointed as the chosen depositary for Foresight Sustainable Forestry Company PLC.
The fund is being managed by Foresight Group LLP, a leading infrastructure and private equity investment manager, with a long-established focus on ESG and sustainability-led strategies. It currently manages over 300 infrastructure assets with a focus on solar and onshore wind assets, bioenergy and waste, and its private equity team manages eight investment funds across the UK, supporting over 120 SMEs.
Foresight Sustainable Forestry Company PLC recently raised £130m in its IPO that will invest in UK forestry and afforestation assets. The Company will seek to make a direct contribution in the fight against climate change through forestry and afforestation carbon sequestration initiatives and will seek opportunities to preserve and enhance natural capital and biodiversity across its portfolio. The flotation proceeds alone expected to result in some four million tonnes of carbon dioxide being absorbed from the atmosphere.
Matthew Hiscock, Head of Alternative Funds Business Development UK, NatWest Trustee and Depositary Services, said: “NatWest Trustee and Depositary Services UK are delighted to be selected by Foresight’s board as depositary for this exciting fund.
“We believe our independence adds significant value to the fund’s ESG credentials and we recognise the investment strategy is of huge importance to the UK’s climate change ambitions.”
Richard Davidson, Chairman, Foresight Sustainable Forestry Company Plc, added:
“Foresight Sustainable Forestry Company’s Board of Directors is pleased to be able to bring this significant investment opportunity for both institutional and retail investors to the equity capital markets. Forestry provides a compelling investment opportunity, meeting investor requirements on climate, sustainability and ESG issues and we’re pleased to be supported by NatWest Trustee and Depositary Services.”
About NatWest Trustee and Depositary Services
NatWest Trustee and Depositary Services provides independent trustee and depositary services in the UK and Luxembourg (through separate legal entities), operating in both the traditional (UCITS) and alternative funds markets. Established over 80 years ago, with £460billion in assets under trusteeship, we have the capacity, knowledge and experience to support a full range of fund types, sizes and levels of complexity.