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.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.