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02-06: How Does Land Governance Affect Investors Risk Perceptions?
Deforestation Risks: Financial Costs and Tropical Agriculture Supply Chains
Climate Advisers, United States of America
25% of GHG emissions come from agriculture and land‐use. 70% of tropical deforestation is caused by agriculture. In 2016, BlackRock suggested deforestation is a material risk for investors. In 2017, UBS stated that the FSB’s Task Force on Climate-Related Financial Disclosures “enables (investors) to address material deforestation risks in agriculture supply chains and for downstream (corporate) buyers.” CDP reported that 200 corporations had $900 billion in revenueat‐risk from deforestation commodities: soy, palm oil, cattle, timber. Corporate zero-deforestation commitments have increased 200% since 2015. Chain Reaction Research analysis has shown material financial risk to corporations.
This presentation will discuss how these material risks impact corporations with deforestation in their supply chains. Eight risk management tools will be presented. Eight real-world case studies will highlight equity valuation, debt ratings, cash flow, financial accounting, and divestment risks. Results will demonstrate how companies’ valuation decrease if they do not address deforestation-related supply chains.
Facing Criticism: Responsibility, Large-Scale Land Acquisition, and its Critics
University of Cologne, Germany
This presentation discusses how corporations, investors and agribusinesses involved in large-scale land acquisition (LSLA) respond to actors concerned about LSLA, such as NGOs, local communities, peasant movements, scholars, and journalists. Over the last ten years, these critics have been very vocal in raising concerns about the responsibilities of investors involved in LSLA – and also of institutional actors and policy makers facilitating the investments. Largely absent in most debates, however, are explicit analyses about how corporations respond to the concerns raised by their critics.
The presentation demonstrates that the extent to which an investor responds to the criticism it (directly or indirectly) faces depends on the investor’s profile. Moreover, it argues that the most critical voices in the LSLA debates play a central role in shaping investors’ responses to the concerns raised.
Land and Poverty through the prism of the Norwegian Investment Fund for Developing Countries: Sustainable development, Large Scale Land Based investments and its impacts on land rights, poverty alleviation and food security in Tanzania.
University of Oslo, Norway
This paper focuses on the Norwegian Investment Fund for Developing Countries and its investments in the agribusiness sector in the United Republic of Tanzania. The paper is based on the preliminary findings of my fieldwork research in Norway. Thus, it briefly presents the Fund, the investment and the concerns raised in relation to it (in terms of land governance, development outcomes, poverty alleviation and food security). This paper seeks to contribute to a better understanding and open a space for dialogue on the role played by Development Finance Institutions in land governance and poverty alleviation.
The paper is particularly relevant to two of the ten themes of the conference (1 and 10):
New academic research on the impact of land tenure security for sustainable development, equity and prosperity, (results and their policy relevance; new research methodologies);
Achieving responsible large-scale land based investments: lessons learned 10 years on.
The First Biennial Investor Survey on Land Rights: Revealing the perceptions and practices of the private sector on land and resource issues and risks
1Indufor North America, United States of America; 2USAID; 3Individual
USAID has initiated a voluntary Investor Survey on Land Rights, conducted by Indufor, with a primary objective of establishing and analyzing a database on private sector perceptions of land tenure risks with quantified direct and indirect costs. The paper will highlight findings from the first biennial survey, including land-based investments and risks, investments rejected due to land tenure uncertainties or risks, challenges faced among private sector actors regarding land disputes, and strategies to resolve land tenure disputes or promote better land governance. The research will serve as a valuable resource on responsible investing.