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Although methane only stays in the atmosphere for roughly 12 years while carbon dioxide hangs around for up to 1,000 years, it is 25 times more potent and must also be priced.
Asset sale by Soper Wheeler’s New Zealand Redwood Company is expected to attract domestic and international interest.
The two European pensions have acquired a controlling stake in Wenita Forest Products, with their investments to be managed by Sydney-headquartered New Forests.
The vehicle aims to raise A$500m in its first 12 months, providing loans of A$10m-$150m to counterparties across a variety of commodities.
The firm has set its sights on two funds that will invest across the UK and Northern Europe, with a further two targeting Australasia and potentially the US, says managing director Olly Hughes.
Eucaliptus trees, forestry, timberland
The asset class has seen a flurry of fund launch activity as its uncorrelated credentials and inherent sustainability chime with new and returning investors.
A third of the fund’s returns will be derived from carbon credit sales marketed in New Zealand’s internal marketplace which is not open to foreign purchasers or credits.
Climate change minister James Shaw says the annual reporting requirements will apply to all institutions with more than NZ$1bn in AUM.
The firm’s first regional Australia-New Zealand fund will convert from a 10-year closed-end fund in a move that could be replicated in its other funds.
Rabobank’s Global Dairy Quarterly finds upwards price growth in late 2019 stalled early this year, with the uncertainty over covid-19 leading to investors scrambling to assess the impact.
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