Manulife Investment Management is raising $500 million to buy forests where carbon sequestration will take precedence
Money is a sticking point in climate-change negotiations around the world. As economists warn that limiting global warming to 1.5 degrees Celsius will cost many more trillions than anticipated, WSJ looks at how the funds could be spent, and who would pay.
Manulife Investment Management, which manages on behalf of big investors about 6 million acres of timberland in the Americas and Oceania, said it is aiming to raise a $500 million fund with cash from its parent company, Toronto insurance and financial-services firm Manulife Financial Corp. , and other institutional investors.
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