BNP Paribas AM Buys Major Stake in International Woodland Company
BNP Paribas Asset Management (AM) has bought a majority stake in the Danish natural resources company International Woodland Company (IWC).
IWC is based in Copenhagen, Denmark, and has been managing investments and giving advice about sustainable timberland investments for more than 30 years. It also deals in agriculture investments and ecosystem services, including carbon credits and conservation projects.
In addition, it oversees EUR5.5bn ($5.9bn) of timberland investment programmes globally.
Otto Reventlow, CEO of IWC, said:
"We're glad that BNP Paribas Asset Management has invested in IWC, and we're looking forward to working with them to grow the universe of nature-based solutions. Both companies share a vision of combining fiduciary duty with active participation in making the world more sustainable.
"We believe that wood is the best material for a carbon-neutral world and that agricultural production is on the right track to getting sustainable proteins to everyone in the world. This partnership will allow IWC to expand its distribution reach and increase its resources on sustainability and the EU taxonomy, which will help both our current and future clients."
David Vaillant, BNPP AM Executive Committee Member, added:
“Our investment in IWC is fully aligned with our commitment to be a leading sustainable asset manager, be forward looking on sustainability-related topics with our clients and increase our focus on sustainable investment strategies, especially within private markets. It is a key component of our Net Zero and Biodiversity roadmaps, as well as being aligned with broader BNP Paribas Group initiatives to protect and restore forests and biodiversity, such as Zero Net Deforestation or Act4nature.
"We are seeing growing interest from our clients for investing in forestry as an asset class, and via IWC, we are very pleased to be able to offer them an enhanced range of sustainable solutions that complement our existing private market capabilities and contribute to reducing the net zero financing gap while enabling a just transition for nature.”
Source: Private Banker International