Symposium for Overseas Investment in Forests (WFC)
The international symposium for activation of investment in overseas forests held at COEX - a discussion venue to diagnose opportunities and risks of overseas forest projects in ESG management
The Korea Forest Service held a '2022 international symposium for activation of investment in overseas forests' on May 4th. Fifty officials attended, including companies and related agencies invested and interested in overseas forests.
This event was designed to identify opportunities and risks of overseas forest projects and devise strategies for generating outcomes by sharing the overseas forest projects linked with ESG management.
This symposium at COEX, where the XV World Forestry Congress is being held, was attended by many people interested in investing in overseas forests. These people are from various sectors, including industry, government, academia, and environmental organizations. The event was also a good opportunity for participants to enjoy the 15th WFC's programs and exhibitions.
This symposium featured presentations on investment cases in overseas forests and plans to increase investment through the link between forests and ESG management from domestic companies and academia. Also, forest experts from Indonesia and Vietnam presented on various subjects, including approach plans for domestic companies consistent with trends of investment markets and overseas policies of forests.
Program: REDD+ possibility for carbon neutrality and its future solution (Professor Jeong Seoyong, Korea University); A feasibility study of the corporation's REDD+ and the way to link ESG (Jang Yoonho, Korea Forestry Promotion Institute); Afforestation business and ESG activities of Solomon Islands (Baek OhHyun, Managing Director of Eagon); Indonesia Magrove Forest Restoration and Cooperation (Mr. Fajar Cahya Nugraha, BRGM Indonesia); Opportunity for Korean corporations, challenges and the possibility of investment(Mrs. Nguyen Thuy My Linh, Vietnamese Academy of Forest Science (VAFS)); AFoCO Green Partnership (Jin Sun pil, Vice Executive Director, AFoCO)
Panelists (total of eight people): Seungmo Kang (Korea Forestry Promotion Institute), Professor Jeong Seoyong (Korea University), Jin Sun pil (Vice Executive Director, AFoCO), Baek OhHyun (Eagon), Choi Soo (Glotech), Jun Kyung-hwa (Deputy General Manager, Korea Investment), Fajar Cahya Nugraha (Indonesia Peatland Mangrove Restoration), Nguyen Thuy My Linh (Vietnam Forestry Science and Technology Association), Song Hansae (Researcher, Climate Solutions)
Following these presentations, participants, including those from environmental organizations, academia, and the industrial sector, actively discussed various opinions to devise strategies for generating investment outcomes in overseas forests through the link between forests and ESG management.
Lee Kangoh, Head of the Korea Forest Promotion Agency, said, due to the global background of the Forest Investment corporation, it requires a new role and responsibility worldwide. The connection between forestry and ESG will be an alternative for the agencies to secure competitiveness. He also added that, through this symposium, he hoped he would help to promote public awareness of forestry and facilitate investments in forests abroad.
Eunsik Park, Director General of the International Affairs Bureau of the Korea Forest Service, said, in the climate change era, through corporations and ESG management, forestry's role have become further emphasized globally. Also, based on this changing environment, the KFS will support the policy to help develop forestry resources abroad and take the lead in building momentum for cooperation and communication between companies.