One of the biggest names on Wall Street is getting into the timber business, and a big part of its plan to make money involves less logging.
JPMorgan Asset Management said on 21 June that it has acquired Campbell Global a Portland Oregon, firm that manages $5.3bn worth of timberland on behalf of institutional investors, such as pensions and insurance companies.
The deal gives the $2.5trn asset manager a position in the booming market for forest-carbon offsets, tradable assets that are created by paying landowners to not cut down trees and leave them standing to sponge carbon from the atmosphere. Offsets are used by companies to scrub emissions from their internal carbon ledgers, which track progress toward pollution-reduction goals.
Read more/Source: UK today news
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