New Forest Company
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The New Forests Company "is a UK-based sustainable and socially responsible forestry company with established, rapidly growing plantations" across Africa. [1]
According to the New York Times
- "...New Forests Company, grows forests in African countries with the purpose of selling credits from the carbon-dioxide its trees soak up to polluters abroad. Its investors include the World Bank, through its private investment arm, and the Hongkong and Shanghai Banking Corporation, HSBC.
- "In 2005, the Ugandan government granted New Forests a 50-year license to grow pine and eucalyptus forests in three districts, and the company has applied to the United Nations to trade under the mechanism. The company expects that it could earn up to $1.8 million a year.
- "But there was just one problem: people were living on the land where the company wanted to plant trees. Indeed, they had been there a while..." [2]
Contents
Board
Accessed April 2012: [3]
- Robert Devereux – Chairman
- Julian Ozanne - Executive Director & CEO
- Jonathan R. Aisbitt - Director
- Avril Stassen – Director
- Sajjad Sabur – Director
- Quentin Scorgie – Chief Financial Officer
Criticism
- Matt Grainger, Oxfam; Kate Geary, Oxfam, "The New Forests Company and its Uganda plantations: Oxfam Case Study," 21 September 2011.
Contact
URL: http://www.newforests.net
