DENMARK - ATP plans to invest up to DKK3bn (US$547m) in forestry through its new subsidiary ATP Timberland Invest K/S.
It will be run by ATP vice-chief investment officer Henrik Gade Jepsen, who additionally becomes also chief executive of ATP Timberland Invest K/S.
He said: "Trees are a solid investment and match our investment philosophy perfectly. At the same time, the purchase of the forest ties in well with ATP's increased focus on climate-related investments."
He added: "ATP will own forests wholly. That way, we ensure that the forestry operation is conducted in a responsible and sustainable manner."
ATP said it invested only in forests in North America, Australia, New Zealand and the EU for this reason.
This comes a day after ATP announced it had invested US$400m in renewable energy technology (www.globalpensions.com: 19/03/09).
The investment, channeled through Hudson Clean Energy, will target proven renewable energy sources such as solar, wind and hydro, as well as emerging technologies such as biofuels and biomass.
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