BNP Paribas Asset Management (AM) has announced the acquisition of a majority stake in Denmark-based natural resources specialist International Woodland Company (IWC).

IWC holds its headquarters in Copenhagen and has more than 30 years’ experience in providing investment management and advisory services within sustainable timberland investments. It also deals with agriculture investments and ecosystems services, including carbon credits and conservation projects.

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In addition, it oversees EUR5.5bn ($5.9bn) of timberland investment programmes globally.

Otto Reventlow, CEO of IWC, said: “We welcome BNP Paribas Asset Management’s investment in IWC and look forward to partnering with them to grow the nature-based solutions universe together. Both companies share a vision of combining fiduciary duty and active contribution to the transition to a sustainable world. We believe that wood is the preferred material in a carbon-neutral world, and agricultural production is on an important path to deliver sustainable proteins to the global citizen. This partnership will enable IWC to expand its distribution reach and further its resources on sustainability and the EU taxonomy to the benefit of both our current and future clients.”

David Vaillant, BNPP AM Executive Committee Member, added: “Our investment in IWC is fully aligned with our commitment to be a leading sustainable asset manager, be forward looking on sustainability-related topics with our clients and increase our focus on sustainable investment strategies, especially within private markets. It is a key component of our Net Zero and Biodiversity roadmaps, as well as being aligned with broader BNP Paribas Group initiatives to protect and restore forests and biodiversity, such as Zero Net Deforestation or Act4nature. We are seeing growing interest from our clients for investing in forestry as an asset class, and via IWC we are very pleased to be able to offer them an enhanced range of sustainable solutions that complement our existing private markets capabilities and contribute to reducing the net zero financing gap while enabling a just transition for nature.”

The transaction is expected to close in H1 2023 and is subject to regulatory approval.