Timberland

New Forests’ second Tropical Asia Forest Fund has ended up raising less capital than its predecessor, which closed on $170m in 2012.

The pension is the latest to warm to forestry, after the ACCESS Pool signaled its intent to deploy £300m into the asset class earlier this month.

TPG’s Rise Fund III and Goldman Sachs Asset Management’s Climate Solutions Fund are two of the many climate vehicles closed in 2023 that have an allocation to food and natural assets.

CAP managing director Jim Heyes says the team behind MozFibra has laid the business plans necessary to avoid the pitfalls of many past African forestry investments that did not put the required emphasis on market access logistics.

FIA managing director MaryKate Bullen says there has been a broadening of investor appreciation and understanding of the intrinsic value and climate benefits that working forests provide.

Sustainability has inspired investors to look at the fundamentals of Latin America’s timber resources in a new light.

2023 was another year in which the voluntary carbon market’s failings were heavily criticized but there were also positive notable milestones such as a $50 credit and the VCMI’s global rulebook.

New Forests secures A$75m commitment from the CEFC for ANZLAFF, alongside investment from AP2, BVK and others.

With a string of big deals in Australia and elsewhere, Canadian investors continued to flex their muscles and demonstrate their commitment to the asset class in 2023.

Trade of carbon credits between countries remains out of reach as agreement could not be found on the all-important Article 6 that was introduced in 2015 at COP21, Paris.