• Landmark U.S. Entry: Climate Asset Management’s Natural Capital Fund I makes its first U.S. forestry investment with 68,000 acres in Washington’s Olympic Peninsula.
• Carbon Removal Boost: Project expected to generate over 1M tonnes of additional carbon removals over the next decade, backed by a long-term carbon contract.
• Strategic Collaboration: Asset managed by EFM, which assembled mission-aligned co-investors and structured the carbon sales agreement.

Climate Asset Management has made its first U.S. forestry investment with the acquisition of a 68,000-acre timberland asset in Washington State’s Olympic Peninsula. The transaction was completed in Q4 2024 through its Natural Capital Fund I (NCF I), in partnership with a group of mission-aligned co-investors assembled by forest investment firm EFM.

This deal marks a pivotal step in scaling nature-based investment strategies in North America. The asset is being transitioned to climate-smart forestry practices that will generate long-term carbon and commercial returns.

“We are excited to have made our first U.S. forestry investment, an asset aligned with our Natural Capital Fund’s approach of targeting value from both commodity income and ecosystem services,” said Ben O’Donnell, Chief Investment Officer of Climate Asset Management.

“The Olympic Rainforest property is a prime example of a natural capital investment that seeks to derive returns from both commercial activities and environmental stewardship, helping to rebalance institutional investors’ portfolios towards Net Zero and Nature Positive allocations.”

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The details:

• The timberland was acquired from Rayonier Inc., a leading timberland REIT.
• EFM, a specialist in sustainable forestry, will manage the land, having led the asset purchase, investor syndicate assembly, and carbon sales contracting.
• The project includes an Improved Forest Management (IFM) approach designed to:
  • Deliver over 1M tonnes of additional carbon removals in 10 years
  • Enhance forest health and timber stock
  • Support biodiversity, recreation, and tribal community engagement

“This is a significant milestone in the deployment of our first vintage’s capital: it is our first real asset investment in North America and complements well our existing regenerative agriculture and sustainable forestry investments in Europe, Australia and New Zealand,” said Carl Atkin-House, Head of Natural Capital Strategy at Climate Asset Management.

“We look forward to working with our local operating partner and stakeholders to demonstrate returns and impact at scale and deliver on our impact objectives across biodiversity, climate, water and community.”

As institutional investors seek resilient, sustainable, and high-impact alternatives, this move by Climate Asset Management signals growing appetite for asset classes that blend financial returns with long-term ecological gains.

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