This guide to Investing in Locally Controlled Forestry (ILCF) is an outcome of the Growing Forest Partnerships initiative that engaged The Forests Dialogue to co-ordinate 11 wideranging dialogues involving investors, rights-holders, governments, donors and others on this topic. It is primarily a tool for practical action and its advice draws on strong evidence showing that locally-controlled forestry enterprises can be successful, sustainable and profitable for all stakeholders.