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.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point