CEFC, Aviva Investors Launch $142 Million Tasmanian Forestry Initiative
A $142 million investment in Tasmanian forestry by CEFC, Aviva Investors, and Gresham House aims to enhance local job creation and environmental restoration. The initiative focuses on afforestation, aiming to generate carbon credits while reviving degraded farmland and supporting the regional economy.
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The Tasmania Natural Asset Trust (TNAT), managed by Gresham House Asset Management, has been established with a $142 million investment from CEFC, Aviva Investors, and Gresham House. This project will transform 21,745 hectares of degraded farmland at Rushy Lagoon into sustainable forestry and ecological restoration, expected to create over 190 jobs and produce approximately five million tonnes of timber and 3.2 million Australian Carbon Credits Units (ACCUs).
The timber will be processed by local sawmills to alleviate supply pressures in the Australian housing market. Environmental safeguards will protect the Lower Ringarooma Ramsar site, ensuring the preservation of significant wetlands and biodiversity. This initiative may serve as a model for future sustainable land management projects.
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