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Timberland
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.
The vehicle received a £50m commitment from the South Yorkshire Pensions Authority to hit the fundraising milestone.
The chairman says forestry ‘could be the infrastructure of tomorrow’ and that Australia’s superfunds would do well to make their move sooner rather than later.
The firm manages a 306,000ha portfolio that is regeneratively managed and sequestered 100,000 tonnes of CO2 while emitting 30,400 tonnes.
The investment was made into the firm’s tenth iteration of its secondaries timberland fund, which has a $1bn target and had raised $635m by January 2024.
New Forests has built up its presence in Kenya since 2021 and aims to scale its investment in Africa’s forestry sector.
Gerrity Lansing says positive investor sentiment around Latin America has returned to a level last seen around 2015, when the firm closed BTF I on $860m.
The debut forestry fund surpassed its $200m target and will be deployed exclusively in Paraguay.
A source close to the matter says potential buyers are likely to pick and choose the most valuable Quintis assets rather than buying the company outright.
Timberland is an ideal natural capital investment, with carbon credits providing a potential additional revenue stream for sustainably managed assets, says Manulife Investment Management’s Thomas Sarno