Over the last several decades, a shift has taken place in the business of forestry. Once valued strictly for timber, forestlands are now recognized for their impact on carbon sequestration, water quality, soil health, and wildlife habitats.
These shifts have created global demand for individuals who possess strong knowledge and skills in forestry, environmental management, financial analysis, and economics and policy analysis.
He has authored or co-authored more than 70 peer-reviewed articles, conference papers or book chapters, and is co-lead author of the book, “Forestland Investment: Valuation and Analysis,” which was published by Routledge Press in July 2023.
He came to Duke from the University of Georgia, where he was Hargreaves Professor of Forest Finance in the Warnell School of Forestry and Natural Resources. He earned his PhD in forest economics and finance from the University of Georgia in 2010. He co-founded Floria Consulting LLC in 2009.
Until the emergence of the Natural Resources Finance Initiative (NRFI) at Duke’s Nicholas School of the Environment, there was no program designed specifically to prepare leaders who could help forestry organizations reach both their financial and stewardship goals.
Graduates of the program are prepared for careers as foresters, environmental practitioners, business analysts and managers, and leaders in both the corporate and nonprofit sectors.
In the future, Mei hopes to continue to attract more students to the program, and to build a brand that makes NRFI the top destination for people interested in forestland investment expertise.
Listed below are the milestones that have been reached in just the past year under Mei’s leadership.
Won three grants
- $300,000 from the U.S. Forest Service to investigate ways along the forest supply chain to offset costs associated with forest management to reduce wildfires
- $162,000 from the U.S. Department of Agriculture (USDA) that includes funding for Mei’s team to examine how smallholders — those who own small parcels of land — can sustainably monetize ecosystem services provided by forests
- $193,000 from Mississippi State University to support Mei and colleagues in studying how forest conservation easements can simultaneously enable timber production and carbon offsets
Developed new NRFI track
Mei led the launch of a new NRFI track, a recommended series of courses for students to take in order to ready themselves for careers in forest finance. Core courses include:
- Financial Foundations for Environmental Managers
- Financial Modelling Practicum
- Financial Accounting
- Economics of Forest Resources
- Forestry Capstone (for MF students)
- Applied Statistical Modeling for Environmental Management
Introduced new Forest Carbon course
This new graduate-level class focuses on decision-making for working forests that are managed for both timber and carbon objectives. The class aims to provide students with advanced knowledge in forestland investment and management, compliance and voluntary carbon markets, benefit and cost of forest carbon, and forest carbon credit as a timberland investment return driver.
Graduated first three NRFI students
Recruited two PhD students
Mei transferred two PhD students, Nan Zhang (left) and Andrew Zhai (right), to assist with the NRFI program. Zhang, who came to Duke from the University of Georgia, researches forest carbon and the lumber futures market. Zhai, who came to Duke from Renmin University of China, studies conservation policy and protected areas, as well as payments for ecosystem services.
Visited Duke Kunshan University
The team traveled to DKU’s Environmental Research Center to explore potential collaborations.
Cohosted Conservation Finance Roundtable
NRFI co-hosted the Conservation Finance Roundtable on April 25-26, 2024. More than 100 attendees from the conservation finance space attended the event, which covered ecosystem markets, green banks, nature-based solutions, public financing programs, interim finance, impact investment, biodiversity credits, and more.
Sponsored 2024 CANOPY Conference
NRFI was a sponsor of the 2024 CANOPY Forests + Markets + Society Conference at the World Forestry Center in Portland, Oregon. The annual event brought together investors, land managers, advisors, carbon project developers, and others to discuss the latest in institutional forestland investing.
Supported the Western Field Trip class
Assisted with a one-week trip to allow students to observe land management and utilization practices in the western United States. Participants learned more about ecological, economic, and policy issues, as well as watershed, wildlife, and land use questions.
Looking Ahead
Moving forward, Mei said he is hoping to continue to boost enrollment in the NRFI program, as well as reintroduce executive courses in forest management that were discontinued during the COVID pandemic.
All of the accomplishments listed above were made possible with the generosity of our Nicholas School donors. We are thankful to everyone for their support and foresight in ensuring our precious forest resources are valued for both the financial and ecological benefits they provide. Thank you for all you do in support of the school and our planet!
