CapMan Natural Capital press release 
10 November 2025 at 12:00 pm EEST 

CapMan Natural Capital, as part of the global Forestry Natural Capital Project, is one of 18 forestry organisations from 38 countries unveiling a major milestone in the sector's collaboration to make nature visible in financial decision-making.

The newly released "Forests and the Future Bioeconomy" report highlights seven prioritised ecosystem services that will form the basis for measuring and valuing forests' contributions to the economy, society, and the planet.

The initiative, led by International Sustainable Forestry Coalition (ISFC) and the Capitals Coalition, with support from the Taskforce on Nature-related Financial Disclosures (TNFD), brings the forestry sector together under one shared goal of making nature's value visible in financial decision-making.

"By actively contributing to the Forestry Natural Capital Project, CapMan Natural Capital reinforces its commitment to creating value not only for investors, but also for nature. We are collaborating with 17 organisations that manage a total of 23 million hectares across 38 countries. With this unprecedented scale comes both a responsibility and an opportunity to enable better decision-making across the global forestry sector," says Jyri Hietala, Managing Partner at CapMan Natural Capital.

The "Forests and the Future Bioeconomy" progress report summarises the results of Part 1 of the 18-month Forestry Natural Capital Project. Through workshops, surveys, and analyses aligned with the TNFD LEAP Approach and the Natural Capital Protocol, participants identified and prioritised the seven ecosystem services that reflect forestry's most material contributions to global prosperity:

• Sustainable timber and fibre supply,
• Water quantity,
• Carbon,
• Habitat and biodiversity,
• Water quality,
• Air quality, and
• Recreational/cultural activities.

These services represent the core of forestry's natural capital: material, measurable benefits that underpin the bio-based economy and human well-being.

"Forestry is showing how nature's value can move from concept, to action, to corporate reporting. It's the bridge between the frameworks, thought leadership, and the boardroom," says Mark Gough, CEO of Capitals Coalition.

"Natural capital accounting by companies can play an important role in assembling the evidence base to support corporate action, including better risk management, capital allocation and external reporting to investors and other stakeholders. We welcome this ongoing pilot testing by the global forestry sector led by the ISFC and Capitals Coalition," adds Tony Goldner, Executive Director of the TNFD.

This milestone represents unprecedented collective leadership across continents and companies. The work aligns science, stewardship, and finance, creating a trusted foundation for natural capital accounting in the forestry sector. The next phase will translate these identified ecosystem services into harmonised Natural Capital Accounts. The project's next major milestone is expected at COP31, where the first illustrative sector-wide Forestry Natural Capital Report will be presented.

For more information, please contact:

Anna Olsson, Head of Sustainability at CapMan, tel. +46 73 387 75 61

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.1 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.
 

About the Forestry Natural Capital Project

The Forestry Natural Capital Project is a pioneering collaboration led by the International Sustainable Forestry Coalition (ISFC) and the Capitals Coalition, with support from the Taskforce on Nature-related Financial Disclosures (TNFD). The 18 participating companies collectively manage over 23 million hectares of land across 38 countries. The project aims to develop and implement a unified natural capital accounting framework for the forestry sector, enabling consistent, credible valuation and reporting of the most material ecosystem services.

About the ISFC

The ISFC is the global association for the private forestry sector. The ISFC strongly advocates for a climate and nature positive, forest-based circular bioeconomy. The ISFC companies steward more than 31 million hectares (76 million acres) of forests in 38 countries on all six forest growing continents. Read more at https://is-fc.com/