FUNDRAISING NEWS | November 20, 2024
BNP Paribas Asset Management has captured $130M in initial capital commitments on the launch and first close of an environmental impact fund that will invest in sustainable forestry and has a $500M target and $750M hard cap.
The BNP Paribas Future Forest Fund, launched in partnership with natural capital expert IWC, will seek eight to 12 core timberland investments exclusively in Forest Stewardship Council (FSC) certified or certifiable forests across the US, Australia, New Zealand, and Europe. The strategy will provide investors with “plug-in data for their greenhouse gas accounting targets” as well as related materials for regulatory reporting.
BNP said it seeks to mainstream sustainable investment practices through the fund while also addressing “macroeconomic trends indicating a growing demand for timber,” alongside revenue generation and asset resilience. Senior ESG Specialist Maxence Foucault describes the new fund as “a prime example of how investors can align environmental benefits with financial targets.”
As of September 30, BNP Paribas oversees €591B (~$623B) in total AUM, comprising €393.3B (~$414.6B) in ESG assets, according to the firm’s website.
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