University of Oregon
PAE-18: Positive Sustainability Investments

The Fund Manager develops and manages timberland assets in the US, Canada, Australia, New Zealand, and Brazil, and strongly believes that a strong environmental record is central to business success. The Company’s forest management has achieved and continued to maintain SFIS certification for its properties in North America and FSC standards in Australasia. These programs include environmental standards and performance measures that integrate the growing and harvesting of tress with the protection of wildlife, plants, soil and water quality. The Company also partners with various state agencies, universities and conservation groups to continuously learn and apply innovative forestry management techniques to enhance their properties. Examples of sustainable practices: • Conservation easements and sensitive land sales •Third-party certified sustainable timber •Biodiversity enhancement and preservation •Wetlands mitigation •Ongoing research of renewable fuels from forest resources (e.g., ethanol, biomass-to-liquid diesel, wood chips) •Annual carbon footprint reports to estimate the net greenhouse gas profile for timberland investments in response to company’s commitment to reduce greenhouse gas emissions Expainations for list above: Land Conservation: In 2010, as part of a land acquisition, the Company committed to handing back to the Australian government more than 3,000 hectares that, in consultation with Conservation Groups, has been identified as suitable once harvested for rehabilitation as natural habitat. Biodiversity enhancement and preservation: The Company runs a kiwi recovery project in its forestlands in Northland New Zealand, in a reserve area of 2,470 acres (1,000 hectares). The key component of the kiwi project is a comprehensive year-round predator control program to protect the remaining kiwi population and enhance breeding and chick survival. Along with the predator control work, kiwi awareness education is carried out in the community around the forests. Sensitive Land Sales: In 2009, The Nature Conservancy acquired from the Company over 2,000 acres of vital forestland in the southeastern US as part of an on-going regional effort to protect sensitive freshwater and forest habitat. 650 acres will be added to the a nearby National Preserve. The remainder of the land will be conveyed to the Forever Wild Program and managed as a state wildlife management area, open to the public for hunting, hiking, and bird-watching. The forest itself is part of a unique high ridge eco-region that includes a wide diversity of plant and animal life including ridge top and cove forests, rock cliffs, and unique boulder fields. The size and location of the land acquired by The Nature Conservancy provides an additional buffer to reducing encroaching development pressure. Additionally, the UO Foundation recently learned that another one of their investment managers is involved in Indian micro-financing. More details are found in the UO Foundation's latest annual report: http://www.uofoundation.org/ar/uofdn_ar_0910.pdf (does not provide fund or company names)