Forestry Investment Explained at Westminster
The benefits of investing in UK forestry will be outlined at an event in the Houses of Parliament next month, hosted by Scottish Woodlands Ltd.
Investors, landowners and professional advisers have been invited to attend the breakfast conference where the opportunities presented by woodland creation, or the purchase of existing forests, will be outlined by a range of experts.
Scottish Woodlands Ltd is hosting the event with legal firm Brodies LLP, at a time when positive support for new woodland creation is growing across the UK.
Mary Creagh MP, the UK’s Forestry Minister, has been invited to speak at the conference, which will be held in the iconic Churchill Room at Westminster on Wednesday, March 18. She is due to meet soon with a group of forestry investment companies, including Scottish Woodlands Ltd.
Stuart Goodall, Confor’s Chief Executive, will outline the current state of the forestry industry, and opportunities and challenges ahead - before David Robertson, Scottish Woodlands Investment and Business Development Director, examines the current investment climate.
Graeme Leith and Emily Pike from Brodies will then speak about the legal, regulatory and fiscal background that have an impact on forestry investors.
Mr Robertson said: “This is a fantastic opportunity for potential investors to find out more about forestry as an asset class, and for existing investors to find out more about recent, and forthcoming, changes.”
“There has been significant activity in terms of taxation, which has been widely discussed - but there’s so much more on the table to debate. We know about the phenomenal benefits forestry and wood can deliver for our economy, environment and society - but we need clarity and certainty from governments in Westminster and the devolved administrations to give the confidence to help us deliver these benefits.”
At the Confor policy conference at Westminster last November, Mary Creagh said: "I look forward to meeting with investors soon to explore how we can unlock more private capital for woodland creation and timber production. We are working to ensure that forestry is seen as investable - with clear returns, stable policy, and long-term vision."
Mr Robertson said: “That’s exactly what we wanted to hear from Mary Creagh - and what we want her to deliver. She has already shown strong support for the use of more home-grown timber in construction - and her continued high-level support can help us to engage with communities, and to help explain the strategic importance of increased woodland creation.”
“We saw a very positive joint statement recently from the Forestry Commission and Natural England about the need to plant more trees for timber, and the Scottish Government has reaffirmed its support for ambitious planting targets. We recognise that there are challenges too, but the positive signs mean it is a really good time to find out more about forestry investment. We look forward to seeing existing contacts and new investors on March 18th.”
Graeme Leith, a rural affairs partner at Brodies LLP, said: “The forestry and wood processing industry plays a significant economic role across the UK’s rural communities. New woodland creation is key to climate change mitigation , and private capital is vital in ensuring that we maximise the opportunities - but it’s also crucial that we engage communities in land use discussions.”
“This conference will bring together all those issues - along with the fiscal and regulatory considerations that investors need to be aware of, and the legislative backdrop, including the new Land Reform Bill in Scotland. Brodies LLP is delighted to be involved in this event and looks forward to some very productive discussions.”
Emily Pike, a private client partner and expert in taxation and succession planning at Brodies LLP, said: “This is a time of significant change in terms of capital taxation and its impact on the rural sector. There are huge fiscal considerations for forestry investors, particularly in relation to succession planning, and I look forward to discussing them at the conference.”
The event is sponsored by Angus MacDonald, Liberal Democrat MP for Inverness, Skye and West Ross-shire. His constituency has a high percentage of forests and woodlands and large wood processing facilities, including BSW Timber at Fort William.
If you are interested in attending the event on March 18, please register here or contact Emma Menmuir of Scottish Woodlands on emma.menmuir@scottishwoodlands.co.uk.