Phaunos Timber Fund Ltd has announced an investment of up to €4m in sustainable forestry in Indonesia.
Guernsey-based Phaunos will invest a minimum of €2m into a closed-system of tropical forestry management, which includes helping local communities develop timber and biofuel applications, promoting biodiversity, creating stronger economies and alleviating poverty.
Phaunos added that there will be the “opportunity to scale the investment up over time”, with the finance being managed by FourWinds Capital Management
“This project represents the next generation of tropical forest management and clearly demonstrates Phaunos’ commitment to investing in projects that offer an attractive economic return as well as environmental and social returns,” said Kimberly Tara, chief executive officer of FourWinds Capital Management and Phaunos board member.
The announcement of the investment came on the same day that the Indonesian forestry ministry said it plans to plant 79 million trees on November 28, ahead of a UN climate change meeting in Bali during December.
