LGPS fund expands forestry portfolio
Local government pension fund in the UK has committed $100m (approximately £80m) to a forestry strategy as part of its bid to reach net zero by 2030.
The £11.1bn South Yorkshire Pensions Authority (SYPA), which is part of the Border to Coast pool, has confirmed a mandate with Campbell Global, part of J.P. Morgan Asset Management.
This move is in addition to SYPA’s £50m allocation to a forestry fund managed by Gresham House, which has undertaken acquisitions in Scotland and Wales.
Campbell Global’s strategy offers exposure to global forestry assets, investing in projects designed to sequester carbon and generate instruments representing the reduction or removal of greenhouse gases equivalent to one metric tonne of carbon dioxide or its equivalent.
George Graham, director at SYPA, said: “Forestry plays a vital role in our natural capital allocation as outlined in our investment strategy. It provides a resilient and diversified source of returns, supporting our journey to net zero, our efforts to combat climate change, and our commitment to enhancing biodiversity—all of which are highly valued by our pension scheme members.”
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