Timberland

CDPQ managing director Nicolas Leyssieux says the regional timber platform established with Oregon-headquartered Chinook Forest Partners could surpass $200m in value.

CEO Angus Whiteley says the firm is seeing fewer timberland deal opportunities in Europe due to limited scale and high prices propped up by subsidies.

Campbell Global will invest the vehicle on behalf of the defined contribution pension scheme and will not pay performance fees to the JPMorgan subsidiary.

The development finance institution said the ticket represents its first commitment to an institutional forestry fund.

The firm’s new forestry team has a track record of sourcing off-market deals, and its CEO believes it can cash in on LP goodwill to raise capital quickly.

Insured carbon credits will be compensated though ‘in-kind replacements,’ or buyers will be reimbursed their purchase price where replacement credits are not available.

The investment marks the initial acquisition by Fiera Comox’s Global Sustainable Timberland Strategy.

The ACCESS Pool appointed Apex Investment Advisory in January to find an asset manager through which the pension scheme pool could invest in natural capital.

BTG’s Mark Wishnie says an expectation that the private sector will be made responsible for its carbon emissions is driving action in voluntary carbon markets.

Telstra’s decision to stop purchasing carbon credits in favor of direct emissions reduction is commendable but it has implications for carbon markets and natural capital.