JP Morgan firm buys $500m in land, partly for carbon capture

The purchase includes 250,000 acres in the Southeast

A timber investment firm owned by JP Morgan recently bought more than 250,000 acres of forest land on behalf of institutional investors, the company announced this week.

The land, which Campbell Global values at more than $500m, will be used for timber harvesting but also carbon capture, the firms said.

The forest land is “high-quality, commercial timberland across three properties in the Southeastern US,” according to the announcement.

“This transaction is one of the largest of its type in the past decade and builds on efforts to expand our asset class offering across alternatives by offering investors access to a robust carbon sequestration and timber management platform,” Anton Pil, global head of JP Morgan Global Alternatives, said in the announcement. “We are committed to harnessing the extensive forest management expertise of Campbell Global to offer our clients the unique ESG benefits associated with timberland assets.”

The three pieces of land represent 18 million metric tons of stored carbon dioxide equivalents, the firms stated.

JP Morgan acquired Campbell Global in 2021.

Last year, JP Morgan participated in Series B funding totaling $50m for carbon credit marketplace NCX, which works with small-scale land owners to delay cutting trees in exchange for compensation.