Manulife Raises $224.5 Million to Buy Forests for Carbon

One of the largest timberland owners in the US has launched the world's first carbon-focused natural capital fund.Manulife Investment Management says it has raised $224.5 million for its Forest Climate Fund, which focuses on forest management to generate carbon credits, Bloomberg reports.

"Another aspect of the strategy involves establishing new forests through afforestation or reforestation to generate premium carbon credits and sustainable timber value in the long term," says the company's global head of timberland investments.

The fund, which is the first natural capital fund of its kind under the European Commission's Sustainable Finance Disclosure Regulation, will also invest in carbon markets and in "in-kind transfers" for investors, Bloomberg notes.

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