September 4, 2025 – The AFoCO launched a FAAF Expert Group to explore feasible solutions for mobilizing private investment in Asian forests. While private companies’ interest in nature-based solutions (NbS) is growing to achieve carbon neutrality and strengthen ESG management, investment in Asian forests remains limited.
To address this gap, AFoCO established the Friends of Asia and Asian Forests (FAAF), a platform for collaboration with the private sector in forestry, in 2024. Through FAAF forums, Climate Leaders Breakfast, and dialogues, AFoCO has explored pathways for private sector engagement. Building on these efforts, the newly launched Expert Group will formulate actionable strategies and provide structured solutions under the FAAF framework.
Bringing Leading Voice
The Expert Group will convene monthly to define priority tasks and develop investment solutions. It unites leading voices in climate and forest ESG including:
- Mr. Moon Kookhyun, President & CEO, New Paradigm Institute (Co-chair of the FAAF)
- Dr. Park Chongho, Executive Driector, AFoCO (Co-chair of the FAAF)
- Mr. Ok Su Lee, Head of the Sustainability & Climate Center, Kim & Chang (Head of the FAAF Expert Group)
- Dr. Kim Raehyun, Director, National Institute of Forest Science (NIFoS)
- Mr. Insik Yu, Team Manager of Strategy Planning Department, Industrial Bank of Korea (IBK)
- Ms. Veronica Kim, Head of ESG Enabling office, SK Securities
- Mr. Sungsoo Lim, Team Leader of Restructuring, SK Forest
- Mr. Yonghwan Choi, Head of ESG Research Team, NH-Amundi Asset Management
Mr. Moon Kookhyun, Co-chair of the FAAF, opened the floor and emphasized the importance of forest management and restoration by presenting the successful case of Yuhan Kimberly and the Republic of Korea. During the meeting, participants highlighted that motivating companies to engage in the forest sector is essential. Reflecting a common remark circulating in the financial sector — “The financial sector will not move without regulations” — the discussion also underscored the need for governments to take the lead. It was also agreed that a shift in perceptions regarding forest projects and carbon credit initiatives remains necessary in the Republic of Korea. The FAAF Expert Group further discussed two key approaches for the way forward:
- Encouraging private sector participation through business models linked to credits and
- Mobilizing project resources through funding from international organizations.
What’s Next
The Expert Group’s progress will be presented at the third FAAF Forum, with the aim of creating a fund. The launch of the FAAF Expert Group marks an important step in AFoCO’s efforts to foster collaboration with the private sector and unlock new opportunities for sustainable forest management and restoration in Asia. By bringing together ESG and climate experts, it will establish a foundation for developing practical solutions through public–private collaboration. The report to be released at the end of the year is also expected to provide strategies for forest investment in Asia and strengthen FAAF’s capacity to drive private investment.