Release date: 24 May 2012
Promoter – Financial Intermediary
Dasos CapitalLocation
Description
Fund targeting forestry assets mainly in Europe
Objectives
An Investment Fund targeting sustainable forestry and biomass investments mainly in Europe. The fund manager plans to complete six to ten investments. The fund aims to make a commercial return whilst contributing to climate change and other environmental objectives.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 30 million
Total cost (Approximate amount)
EUR 300 million
Environmental aspects
The Fund is expected to invest taking a sustainable environmental management perspective and the social impacts will be duly analysed. In the EU, initial afforestation and reforestation for the purposes of conversion to another type of land use falls under Annex II of the EIA Directive 85/337/EEC amended by Directives 97/11/EC and 2003/35/EC. The decision of the Competent Authority whether to require an EIA on the basis of Annex III of the Directive will be assessed, as well as the possible impacts on protected flora and fauna (Habitats’ 92/43/EEC and Birds’ 79/409/EEC Directives). The same approach and principles as contained in EU law will be applied outside EU. Details of the Fund’s environmental due diligence procedures wil be reviewed during appraisal, in particular its procedures for ensuring compliance with EU Environmental Directives (including EIA Directive, Habitats Directive and Birds Directive).
Procurement
The Fund’s investment guidelines will be required to ensure that procurement procedures applied by the underlying investments financed by the Fund are in line with the provisions of the EU Procurment Directive. Details will be verified during appraisal.
Status
Signed - 2/01/2013
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).