New forest in the Baltic States will make Danish ingredient manufacturer 100% climate neutral
When the company Palsgaard with headquarters in Juelsminde, Denmark – in 2010 sets itself the goal of achieving a climate neutral production, not many people predicted that the company would succeed. Not at all within the 10 years that the company itself expected.
But already in 2018, the company – that supplies food companies in most parts of the world with specialized emulsifiers – managed to achieve its goal.
Since then, the company has worked hard to become 100% CO2 neutral. Production accounts for 98-99% of the company's total CO2 emissions, while the last few percent are emissions from transport in company cars and air travels.
It is not new for Palsgaard A/S to deal with forest – neither in Denmark nor in the Baltic countries. The company has since 1908 owned and operated the manor of the same name in Juelsminde, where forestry has been part of the work.
Since 2003, parts of the profits from Palsgaard A/S and the other of the Schou Foundation's subsidiaries have been invested in forest properties totalling approximately 5,000 hectares in Latvia and Lithuania as part of the investment portfolio. Palsgaard will use some of these properties next year to raise new forest with the help of HD Forest:
Forest investments have proven to be an attractive cornerstone of investment portfolios during the more than 20 years that HD Forest has been present in the Baltic countries – with low-risk investments such as forest properties laying a solid foundation with solid returns – especially for investors who have the time and profits to let the trees grow further during the recession and reap the revenue during periods with good wood prices.
For Palsgaard, the next step of the journey of becoming completely climate neutral is to calculate the exact area to be planted before the planting can start in 2021. Here, the company has allied with both KPMG to do the calculation and HD Forest to plan and execute the afforestation.
Anders Brix, Group CEO, Palsgaard, P: +45 6197 2397
Peter Vind, Baltic Director, HD Forest, P: +45 4019 5152
Anne Eisenberg, Head of Information, HedeDanmark, P: +45 5050 7278