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timber company sets up Borneo initiative

January 2008

A wildlife conservation bank is to be set up in Malaysia’s Malua Forest Reserve by New Forests Pty, a forestry investment management and advisory consultancy, in conjunction with the Sabah state government.

New Forests, which is based in Sydney and the US, will work with the state government to produce a marketing plan to make the area, covering 34,000 hectares on Borneo, a commercially operated conservation bank.

The company will sell conservation values associated with the reserve and will fund rehabilitation and protection of the area, which contains a large population of orang-utans, pygmy elephants, Sumatran rhinos and other endangered species. New Forests hopes to sell to palm oil developers, energy companies and other businesses to produce environmentally sustainable biodiesel. For its part the government is terminating logging in the forest.

David Brand, New Forests’ managing director, said: ‘Palm oil companies can help to protect rainforest, private investment can make a return from rainforest rehabilitation and conservation, and the government can offer a solution to current concerns around oil palm plantation.

‘We hope that via a commercial approach to conservation we may be able to contribute to a sustainable landscape on Borneo that includes palm oil, timber production and wildlife conservation all being managed on a commercial basis in harmony.’





Further Information
http://www.ysnet.org.my
http://www.newforests.com.au
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