Bluesource, a private-run U.S. firm that serves as an advisor to corporations on emissions reductions, announced on Tuesday that it has reached a US$500 million joint venture with an investment firm to acquireand manage timber forests less intensively as part of measures to curb climate change.
The said joint venture is with Oak Hill Advisors and is tagged “Bluesource Sustainable Forests Company”.
The aim of this is to acquire and introduce more sustainable measures of management to over one million acres of forests in North America.
Oak Hill has over US$50 billion in asset under management and will fund the vast majority of the venture while Bluesource will provide the balance of it, said Roger Williams, the president of Bluesource.
“There is a societal and climate benefit associated with harvesting forests less intensively and there are markets that exist today that reward long term management behavior,” said Willia
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