About Green Resources
Green Resources is reportedly the largest plantation forestry, carbon offset, forest products, and renewable energy company (outside South Africa) operating on the African continent.
Green Resources started under the name Fjordgløtt in 1995, and was later renamed Tree Farms, before adopting its current name in 2007.[i] Green Resources is connected to a broad financialization of forestry. In recent decades, finance companies and investors have identified land, agriculture, forestry and food as investment opportunities.[ii] This trend by institutional investors to actively seek new markets in which to sink capital in the pursuit of secure investment returns has seen international land acquisitions on a grand scale.[iii]
Mr. Mads Asprem is both the company’s founder and current CEO. Green Resources’ major shareholders include investment firms such as Phaunos Timber Fund (27%), New Africa (19%), Steinerud (8%), Macama (7%), SBL Direct Investments Ltd (6%), Verbena Investment Ltd (5%), and TRG (5%).[iv] Other financiers include the World Bank’s International Finance Corporation, the Norwegian Investment Fund for Developing Countries (Norfund), which has provided $7million in loans to Green Resources, as well as an additional $25million in collaboration with the Finnish Development Finance Institution(Finnfund).[v]
Green Resources is reportedly the largest plantation forestry, carbon offset, forest products, and renewable energy company (outside South Africa) operating on the African continent. The company released 17.8 million new shares in May 2014, alongside its acquisition of Global Solidarity Forest Fund (GSFF), a move that further consolidated its dominance in the African forestry sector.[vi]
Green Resources outlines broad goals related to conservation and reforestation. It claims to contribute to climate change mitigation, while meeting the growing demand for wood products from well managed forestry plantations, as well as making a contribution to sustainable environmental management, community development, and poverty alleviation.[vii]
This website and its accompanying report, The Darker Side of Green: Plantation Forestry and Carbon Violence in Uganda – the Case of Green Resources’ Forestry-Based Carbon Markets (click on title to access the full report published by the Oakland Institute), examines the acquisition of land in Uganda by Green Resources, a Norwegian-registered plantation forestry company. To learn more about this Australian Research Council funded project, read our Overview.
i Bondevik, S. Carbon Forestry and Trading: A Case Study of Green Resources in Uganda. Masters Thesis submitted to BI Norwegian Business School. October 2, 2013. http://brage.bibsys.no/bi/bitstream/URN:NBN:nobibsys_ brage_50069/1/Oppgave15.pdf (accessed February 22, 2014).
ii McMichael, P. “The Land Grab and Corporate Food Regime Restructuring.” Journal of Peasant Studies 39.3-4 (2012): 681-701.
iii Daniel, S. and A. Mittal. The Great Land Grab. The Oakland Institute, 2009.
iv Green Resources Company Report 2012. http://www.greenresources.no/ Portals/0/Reports/GR_Company_Report.pdf (accessed August 12, 2014).
v Bondevik, S. Carbon Forestry and Trading: A Case Study of Green Resources in Uganda. Op. Cit.
vi Green Resources website. http://www.greenresources.no/Home.aspx (accessed May 5, 2014).
vii UNFCCC/CCNUCC. Project Design Document Form For Afforestation and Reforestation Project Activities (CDM-AR-PDD) – Version 05. Kachung Forest Project: Afforestation on Degraded Lands. September 2012.