US$225 Million for climate-focused forest fund

Friday 24 Nov 2023

Manulife Investment Management announced that it has raised US$224.5 million in commitments at the initial close of Manulife Forest Climate Fund LP, reaching nearly the halfway mark towards the fund’s targeted US$500 million in committed capital.

Launched in late 2022, and aimed at providing investors with the opportunity to invest in nature and climate change mitigation and delivering value through carbon credits, the new fund invests in a globally diversified portfolio of sustainably managed forestland assets, where carbon sequestration is prioritized over timber production. The strategy also includes the establishment of new forests through afforestation or reforestation.

According to Tom Sarno, Global Head of Timberland Investments at Manulife Investment Management, the capital raise comes as amid strong demand for climate change solutions and “strong investor interest in strategies that may help support carbon emissions reductions and net zero commitments.”

“We believe that an investment in Manulife Forest Climate Fund can help support investors’ various climate goals and objectives and that the experience we have in sustainable forest management, as well as our commitment to high-quality carbon sequestration, brings additional value to the strategy,” added Mr Sarno.

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Source: Carbon Herald
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