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Program

Tuesday, May 19, 2020

Day One

7:55am

Registration

9:00am

Timber REITs: Potential for the 2020’s

By 2019 the listed Timber REITs owned nearly 19 million acres of forest in North America and have been increasing their ownership year by year. Rayonier is unique amongst T-REITS in having forest ownership both in the USA (in the US South and Pacific Northwest) as well as a significant holding in New Zealand. This talk will highlight Rayonier's expectations for the coming decade, both for the company itself and the Timber REIT sector in general.

 

 
9:35am

Tony Cascio

Managing Director, Head of Client Account Management,

Hancock Natural Resource Group

Evergreen Timberland Funds: The Future for TIMO’s in the 2020’s

A number of the leading TIMOs have shifted some of their focus to "evergreen funds" that are not limited to a "Closed Fund" 10 or 12 year life span. Hancock Timber Resource Group launched its intergrated timber and agriculture fund as an evergreen fund, and this presentation will look at how and why the TIMO industry seems to be moving more and more in this new direction.

 

10:05am

Chung-Hong Fu

Managing Director

Timberland Investment Resources

North America: Still the best bet for timberland investors

When Timberland Investment Resources was founded (more than 25 years ago), all but one of the mainstream TIMOs invested only in North America. Over the years, most of the other largest TIMOs have expanded into investments overseas, but TIR has continued to focus on the USA as the best region for timberland investment. This presentation will highlight why TIR continues to believe that US timberland investments offer the best opportunities for long-term investors.

 

10:35am

Coffee and Tea Networking Break

11:05am

Planting a trillion trees: Can the best solution to climate change also be a good investment?

In 2019 Swiss  scientists claimed that the "best" solution to climate change it to plant one trillion trees, and an increasing  number of leading corporations are viewing tree planting as a sustainable way to off-set their greenhouse gas emissions. But how are these companies approaching investment in tree plantation development? Mark Campanale, of Consilium Capital, has put together an interesting panel to discuss this latest trend in Corporate environmental responsibility.

 

11:50am

Climate change and risk insurance for timberland investors: Key concerns in the 2020’s

While climate change provides some compelling reasons for the world to invest in more forests, it also presents some very real risks for timberland investors, including most notably forest fires in the western USA and Canada and  hurricane damage in the US Southeast. Outdoor Underwriters will provide some key insights into risk mitigation strategies in the face of increasing threats from climate change.

 
12:20pm

Networking Lunch

1:50pm

Ulla Paajanen

Senior Vice President, Head of Investor Relations

Stora Enso Oyj

European forest products companies: Why we are expanding forest ownership rather than divesting

2:20pm

Partnerships between forest investors and major forest products companies

Klabin is one of the largest pulp and paper producers in Latin America, and has long had a reputation for sound environmental management of its large forest resources. As the company has expanded production, it has also formed partnerships with some overseas investors represented by TIMOs in order to foster development of more plantation resources to support its industrial production. This talk with explore how Klabin views these partnerships, which represent a potential route for much greater institutional timberland investment in Latin America.

 
2:50pm

Forest investment in Brazil: The golden years are still ahead

Brazil exported US$13.6 billion in forest products in 2018, up from just $3.1 billion in 1998. The country's planted forest area has also expanded rapidly during this period, but the country has a plan to develop nearly 5 million acres of new planted forest by 2030. What role can timberland investors play in this major expansion of one of the world's largest industrial planted forests? The Brazilian Tree Industry (Ibá) is the association that represents the entire planted forest production chain, from field to final product, and this talk will highlight the new opportunities for investors in Brazil's forestry sector.

 
3:20pm

Coffee and Tea Networking Break

3:50pm

Short presentations on timberland investment projects around the world

One of the most popular highlights of last year's conference was this panel, which will introduce 10 companies involved in forest investment via short, 6-minute company presentations to highlight a wide range of forest investment opportunities from around the world. 

  • USA - Carter Coe, Principal, Chincook Forest Partners
  • Brazil - Geraldo Rinaldi, Consultant, Green Edge Capital
  • Australia - David Smith, Director, Smith Agri International
  • More speakers and countries to be added
5:20pm

Cocktail Reception

6:50pm

Close of Day One

Wednesday, May 20, 2020

Day Two

7:55am

Registration

8:55am

Welcome Remarks

9:00am

Asian perspective on timberland investment vs. agricultural investment

9:30am

Forest investment in Africa: The 2020's will be our decade

Criterion Africa Partners is by far the largest institutional investor in African forestry, with operations in South Africa, Swaziland, Tanzania, Uganda and Gabon. This presentation will explore different options for investing in forestry in Africa, including combining agriculture and timber investments in the same fund.

 

10:00am

Forest investment in Oceania

10:30am

Coffee and Tea Networking Break

11:00am

Investing in Europe

Investing in forestry in the UK is markedly different from investing in North American timberland. F&W Forestry has analyzed key metrics of returns to forestry (including with generous government support payments) in the UK, through its subsidiary Fountains Forestry. This talk will summarize some of F&W's findings about the challenges and opportunities in forest investment in this region.

 
11:30am

Investing in Europe: The Baltics

The transition in governments in the Baltics from the Soviet Union to independence beginning in 1991 has provided some excellent opportunities for timberland investors, both domestic and from overseas. Are good returns still possible for overseas investors in forestry in the Baltics, or have the opportunites mostly passed? This talk will discuss key metrics of forestry in the three Baltic countries (Estonia, Latvia and Lithuania), as well as comparing and contrasting the forest resources and industry in each country.

 
11:50am

Timberlink survey on timberlands investment

Each year Timberlink conducts a comprehensive survey of the timberland investment sector, and compiles valuable data on institutional investors, including who is investing and regions of focus. Partner Tracy Evens shares the results of Timberlink's latest investor survey.

 

12:10pm

Networking Lunch

1:15pm

Nick Ling

Technical Design Lead

Heatherwick

Deep Materiality: a Heatherwick Studio approach to timber construction

1:45pm

Outlook for the China log and lumber market

China National Forest Group the largest log importers in China, and works with log suppliers and partners in New Zealand, Australia, Russia, USA, Canada, South America and Europe. This talk will focus on the changing strategies of Chinese log buyers to secure resources, China's demand for softwood timber, and the impact of currency fluctuations, the trade war with USA and ocean freight economics, to help investors understand the outlook for softwood timber from different regions.

 
2:20pm

North American lumber outlook – The rise of southern yellow pine in the wake of BC curtailments

  • Review the wave capacity curtailments in Western Canada and the Pacific Northwest along with the rampup of sawmill capacity in the US South
  • Updates on the trade war, the US-Canadian lumber dispute and the effect of duties on Canadian competitiveness 
  • Reflect on whether southern yellow can fill the void left by SPF
  • Address the sluggish demand performance and key causes in 2019
  • What this means for the demand and supply balance for lumber over the coming years and risks ahead
 
2:50pm

Coffee and Tea Networking Break

3:15pm

David Fortin

Senior Economist, Wood Products

Fastmarkets RISI

Global pulp markets

  • Review of the market pulp outlook for supply and demand over the next two years
  • What has happened to the record inventory levels reached in 2019 and any lasting impacts on 2020?
  • How global fiber markets are likely to adjust to the upcoming recovered paper ban in China?
  • Which projects are in the pipeline and most likely to be start-up?
 
3:45pm

Peter Barynin

Principal Economist, North American Timber

Fastmarkets RISI

North American Timber: Expected market solutions to the changing availability of wood fiber in the US South and BC

  • How will wood supply affect investment patterns?
  • How long will the southern yellow pine “supply overhang” last?
  • What does a contracting BC industry mean for other wood markets?
  • Which other regions in North American are vulnerable to downsizing?
4:15pm

Close of Conference