Home ESG JP Morgan firm buys $500m in land, partly for carbon capture

JP Morgan firm buys $500m in land, partly for carbon capture

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A timber investment firm owned by JP Morgan recently purchased more than 250,000 acres of forest land on behalf of institutional investors, the company announced this week.

The land, valued at more than $500 million by Campbell Global, will be used not only for timber harvesting but also for carbon capture, the companies said.

The woodland is described as “high-quality commercial woodland on three properties in the southeastern United States.” announcement.

Anton Pill, Global Head of JP Morgan, said: “This transaction is one of our largest in the last decade and will give investors access to a robust carbon sequestration and wood management platform. It builds on our commitment to broaden our asset class offerings across alternatives by doing so.” Global Alternatives said in a statement: “We are committed to leveraging Campbell Global’s extensive forest management expertise to offer our clients unique his ESG benefits related to forest assets. increase.”

The company says the three lands are equivalent to 18 million tons of carbon dioxide. Last year, JP Morgan participated in a total of $50 million in Series B funding for NCX, a carbon credit market that works with small landowners to delay tree felling in exchange for compensation.

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