Real Assets
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Background:
Stewardship is an important part of how assets are managed within Foresight’s Real Assets division, with biodiversity increasingly recognised as a contributor to long‑term value and asset resilience. The Glaister’s Bridge Community Woodland project at the Upper Barr investment in Dumfries & Galloway illustrates how stewardship considerations are integrated into asset management decisions through targeted governance arrangements within a defined part of a wider forestry holding.
In 2024, Foresight entered into a 20‑year lease agreement with the Upper Urr Environment Trust (UUET) covering a core area of c. 5–6 hectares, with managed access to a wider c. 70 hectares. The aim of the agreement was to restore and co‑manage part of the site at Upper Barr, an area of the site under community management being called the Glaister’s Bridge Community Woodland. The lease structure, believed to be the first of its kind in a commercial woodland context, embeds community governance into the long‑term management of the asset. As Foresight’s first afforestation investment, Upper Barr is strategically significant as a test case for embedding community‑centred stewardship within the Real Assets portfolio.
Objective:
The objective of the investment is to enhance biodiversity and natural capital at Glaister’s Bridge Community Woodland, strengthen local governance structures that support asset resilience and develop a scalable model for community‑centred, nature‑positive land management. This approach directly supports Foresight’s stewardship priorities on biodiversity enhancement and resilient community assets, identified as long‑term value drivers across the Real Assets portfolio.
Stewardship Activity:
Foresight’s stewardship input focused on the structuring of the investment and governance arrangements, including the provision of land and the design of a long‑term co‑management lease with UUET. The 20‑year lease model was selected in preference to a more conventional management arrangement to signal long‑term commitment, align incentives and provide the community with a high degree of autonomy over stewardship decisions affecting the site within the agreed area.
Working in partnership with UUET and operational manager EJD Forestry, Foresight supported a programme of ecological and access‑related interventions, including the planting of c.750 trees and the creation of new woodland pathways to support habitat health and facilitate ecological monitoring. The site also hosted the launch of a national Good Practice Guide for Community Engagement in Woodland Creation1, positioning Glaister’s Bridge as a reference example for community‑engaged woodland management within the sector.
Outcomes:
The stewardship approach has already led to observable progress. Community involvement in the stewardship of the site has deepened. The afforestation site provides ongoing work to manage the site for 15 community members, and multiple events have been held, such as a planting day attended by 130 people, moth trapping, artistic classes, ’World Rivers Day’ performances and bench unveiling together attended by more than 350 members of the public, with UUET playing a central role in governance and in shaping the monitoring approach for the woodland. This strengthened partnership has informed a wider collaboration agreement between Foresight Natural Capital and Dumfries & Galloway Woodlands, enabling the principles tested at Glaister’s Bridge to be considered for replication at other locations.
A Biodiversity Net Gain (BNG)‑compliant baseline has been established across the site, providing a robust foundation for monitoring biodiversity change over time. Community representatives have contributed to the identification of appropriate indicators for tracking project success, strengthening local ownership and oversight of outcomes.
The project has also attracted interest from other forestry participants, evidencing how integrating stewardship considerations into Real Assets investment structures can support asset resilience, improve long‑term risk management, and generate learning that is relevant beyond a single site.
Ongoing stewardship will focus on monitoring biodiversity outcomes against the established baseline, maintaining effective community governance arrangements, and assessing the applicability of the co‑management model across Foresight’s wider Natural Capital portfolio.
