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NordicSIF 2021: Timber! Green, brown or something in between?

9.6.2021 @ 14:00 - 16:30

NordicSIFs will meet this year around Forest theme. Before we wander off into the woods we start with the presentations by the NordicSIF chairpersons. NordicSIFs are at the forefront of sustainable investing globally and we are happy to share the updates on current activities across Nordic countries.

Nordic region has 20% of Europe’s wood stock. Sweden, Norway and Finland are three of the most forest-rich countries in Europe. In the coming years a number of Commission Initiatives are expected on a framework for sustainable products. How and to what extent will forest industry be included in this work? From the perspective of forest-rich countries, the forthcoming revision of EU Forest strategy is crucial.

Investors have been drawn to forests due to good long term returns with low volatility, the defensive nature of forestry and the low correlation with other asset classes. Now forests have become an attractive option for investors not only because of commercial timber value but also for potential new sources of revenues, such as carbon credits.

Forest use provokes many emotions and there are increasing demands on forests, for carbon sequestration, for renewable bio-based materials and products which can substitute non-renewable ones, for rural livelihoods, and for recreation, all in the context of a rapidly changing climate. Forests contribute to biodiversity conservation, employment, and income of rural communities. Only about 2% of the European forests are considered undisturbed by man.

Are our forests supplying wood on a sustainable basis? The concept of sustainable forest management is based on the idea of fulfilling the ecological, economic, and social functions of forests on a basis which will provide benefits for present generations while not sacrificing the needs of future ones, as defined at the Helsinki Ministerial Conference in 1992.

NordicSIF will return to the foundations laid down in 1992 in Helsinki. Forestry is both topical and all-embracing subject. We warmly welcome you to join our experts with lively discussions and presentations on forestry, its multiple values and benefits to us all.


Register here

The event is open to Finsif and other NordicSIFs members.

The event is held in English.

Additional information

Päivi Riska



14:00 Welcome Terhi Koipijärvi, Director, Communications, Strategy and Responsibility, Metsähallitus

14:05 NordicSIFs today – Organization, people, activities

DanSIF – Dewi Dylander, chairperson

FinSIF – Marja Karttunen, chairperson

IcelandSIF – Kristbjörg Kristinsdottir, chairperson

NorSIF – Janicke Scheele, chairperson

SweSIF – Susanne Bolin Gärtner, chairperson

15:00 Investor´s comment on Nordic Forestry, Jyri Hietala, CEO, UB Nordic Forest Management Ltd

15:10 EU and the forests – the regulatory point of view Nils Torvalds – a Member of the European Parliament (MEP)

15:25 Investor´s comment on regulation, Tapani Pahkasalo, Partner, Dasos Capital Oy Ltd

15:35 Sustainable Forest Management Timo Lehesvirta, Leading Specialist, Climate and Nature Solutions, Sitra

15:50 Investor´s comment on sustainability, Roger Naylor, Portfolio Manager, Evli Fund Management Company Ltd

16:00 Fireside chat Terhi Koipijärvi, Director, Communications, Strategy and Responsibility, Metsähallitus

16:15 Q&A

16:30 Event ends

Terhi Koipijärvi has an extensive global experience in leading corporate responsibility and sustainable forestry within the forest sector. She has worked more than 25 years in various managerial and leadership positions, being now a Director, Communications, Strategy and Responsibility at Metsähallitus, state company, which is responsible for the sustainable management of one third of Finland’s area. In her earlier career Koipijärvi has led the responsibility agenda in global forest companies like Metsäliitto (Metsä Group) and Stora Enso. Koipijärvi has a MSc in forestry and forest products marketing from the University of Helsinki. She has written two leadership books on strategic corporate responsibility together with responsibility expert Sari Kuvaja. Koipijärvi is the Deputy Chairman of the Board of the Corporate Responsibility Network FIBS, a member of the Responsibility Committee of the Central Chamber of Commerce (Finland), and a member of a forest company Green Resources AS (East Africa).









Mr Tapani Pahkasalo is a Partner at Dasos Capital and a natural resources investment professional with plenty of forestry field experience from Europe, Latin America, Russia, China and Africa. At Dasos he is involved in fundraising, due diligence, deal sourcing and in sustainable forest asset management. Prior to joining Dasos, he worked for a Central European private equity manager as a Director of Timberland Portfolio Management, and as a VP for a timberland fund. He started his career in forest industry consulting, working with investment strategies, feasibility studies and had a leading role in asset valuations. He holds a M.Sc. in Forest Economics from the University of Helsinki.









Jyri Hietala is the CEO of UB Nordic Forest Management Ltd., which is the entity responsible for the management of United Bankers’ Private Equity (AIF) forestry funds UB Nordic Forest Fund II and III. Jyri has over 10 years of experience in the forest sector and joined United Bankers in 2017. Jyri holds an M.Sc. (2010) in Forest Economics from the University of Helsinki.










Roger Naylor has over 17-years’ experience in global forestry investment and asset management. Previously he was Chief Operating Officer of the UK’s largest forestry investment manager, and Director of Investment Forestry at IWC, a leading international forestry investment adviser to institutional investors. Having spent his career scouring the globe for the best forest funds and managers, Roger in now Portfolio Manager of Evli’s new Impact Forest Fund, which provides Nordic investors access to a portfolio of premier unlisted forestry funds targeting the US, South America, Australia and New Zealand. Roger has a master’s degree focused in Forest Economics from the University of Helsinki (2002).








Dewi Dylander As Vice President and Head of ESG at PKA, Denmark’s third-largest pension fund with a green profile and 350b DKK/47b EUR under management, Dewi Dylander has a strategic focus on optimizing the business through sustainable investments.Mrs. Dylander has significant experience within the field of climate change and sustainable growth and believes that integrating ESG factors is essential to investment performance. She has broad legal experience from the public and private sectors, with special expertise in financial legislation and EU law.  Mrs. Dylander is a trained lawyer (L) from Kammeradvokaten, the Legal Adviser to the Danish Government. She worked for several years internationally, including as a diplomat at the embassy in Paris, and as Denmark’s chief negotiator for the international climate negotiations. Prior to her position in PKA, Mrs. Dylander worked as Executive Legal Director in ATP, the Danish labour market supplementary pension fund.








Timo Lehesvirta has started in a new position as leading specialist in the climate and nature solutions team in Sitra in 2021. The key strategical goal is to halt the loss of biodiversity while strengthening economy. He has a long and extensive experience in leading corporate responsibility in bioeconomy and the forest sector. He has worked for more than 20 years in various leadership positions at the international forest company UPM. Lehesvirta has a MSc in biology from the University of Turku. He has been active in sustainability standardization work, development of environmental impact measurement and creating added business value through corporate responsibility. “Net positive impact” forestry model is one of his latest innovations in his previous work.









Nils Torvalds, Member of the European Parliament is since 2012, representing Swedish Peoples Party of Finland, SFP and the centrist-liberal group Renew Europe. He is for the moment member in the committees for Environment, Public Health and Food Safety and for Budgets, while being substitute in the committee for Industry, Research and Energy. He is also the spokesperson and coordinator for his parliamentary group in the committee for Environment, Public Health and Food Safety. During his three parliamentary terms, he has worked intensively with questions regarding climate, forestry- and bioeconomy on the European level. Latest on the EU Climate Law. Before becoming a member of the European Parliament, Torvalds did work as a journalist and foreign correspondent for the Finnish Broadcasting Company , YLE.











Susanne Bolin Gartner, Head of Product Manager and Selection at Danske Bank since January 2020. Before that she held the position as Head of Fund Selection & ESG external funds at Folksam (Swedish insurance company), for the last 10 years. She delivered a sustainable guided selection of funds ranked highly among peers together with her team. Prior to that she has held several senior positions within bank and insurance companies. Susanne is also the Chairman of Swesif ( an independent association that has its purpose in sustainable investments) and member of the Investment Committee for Barncancerfonden (Child cancer foundation). In her free time she is also a Yoga instructor.









Janicke Scheele, chairperson of NorSIF and Head of Responsible Investments in DNBShe has been a member of the Board since 2016 and a chairperson since 2019. DNB was one of the founding members of NorSIF in 2013. Janicke is Siviløkonom specializing in Finance from The Norwegian Business School and has in addition an MBA in Finance from The Norwegian School of Economics. She is Authorized Financial Analyst and Financial Advisor and has worked in Norwegian and global capital markets since 1989. She has 17 years of experience with analysis, portfolio management, and strategic and tactical asset allocation. After ten years of advising Institutional investors she has led and built up the responsible investment team in DNB Asset Management since 2015.








Kristbjörg M. Kristinsdóttir is a 40-year-old business graduate from the University of Iceland with a master’s degree in international business from the University of Melbourne, Australia, in addition to having a certification in securities trading. Kristbjörg is the CFO of Stefnir a large diversified fund manager in Iceland and has 20 years of work experience in financial markets. In her work for Stefnir, Kristbjörg has been involved in stategic planning, operations, risk management and the implementation of good governance. Kristbjörg has served on the boards of companies associated with Stefnir and currently sits on the board of an international private equity fund managed by Stefnir. Since May 2021 Kristbjörg is the chairperson of IcelandSIF.


14:00 - 16:30