Japanese companies target carbon credits with forestry fund in N. America

A cross-sector group of Japanese companies has invested in a forestry fund created by Japan's Sumitomo Forestry, aimed at eventually issuing carbon credits through forest management mainly in North America. Sumitomo Forestry said on 10 July that it had launched the fund, worth around $415mn, in June to manage forests on the east coast of the US and Canada, the west coast of the US and Latin America to create carbon credits. Eastwood Forests and SFC Asset Management, both Sumitomo Forestry group companies, will manage the fund for 15 years. The fund consists of joint investment ...