Saffery Champness, a leading international corporate service provider, has been appointed to provide administration and accounting services to Truth North’s Forestry Carbon Sequestration Fund from its Guernsey office.
Focusing on the acquisition of agricultural land and woodland creation in the UK, the fund has reached its £30 million equity target at launch following support from Willis Towers Watson.
True North’s fund aims to develop the land in accordance with Forestry Stewardship Council guidelines for commercial forestry.
In addition, Carey Olsen’s investment funds team in the region acted as lead counsel in the launch of the fund, designated by the Guernsey Financial Services Commission (GFSC) as a Guernsey Green Fund owing to its objective of a net positive outcome on the environment.
Ian Powell, managing director of fund services for Saffery Champness in Guernsey, commented: “Principally it is pleasing to be working with an innovative fund and manager with a distinct aim to mitigate environmental damage. Green investing is a growing and popular area of the market and one which is creating a lot of interest.”
“With the Guernsey Green Fund, the GFSC has created a platform which provides investors the comfort of knowing that the product conforms to the internationally agreed objective of mitigating environmental damage and climate change.”
