Herbert Smith Freehills Kramer has advised the Clean Energy Finance Corporation (CEFC) and Aviva Investors on their investment alongside Gresham House in a new A$142 million Tasmania Natural Asset Trust platform, an afforestation and natural capital platform to be managed by Gresham House Asset Management.
This investment by the CEFC and Aviva Investors will support a sustainable forestry plantation in Tasmania, combining commercial softwood plantations on low productive land with large-scale conservation, ecological restoration and sustainable grazing. Trees produced by the project are expected to be processed locally by Tasmanian-based sawmills.
The initiative is expected to generate 5 million tonnes of timber and 3.2 million Australian carbon credit units, supporting local jobs and helping to offset a critical shortage of construction timber in the Australian housing market.
The Herbert Smith Freehills Kramer team comprised partner Fiona Smedley and special counsel Yorick Ng, with support from Liza Carver in relation to ACCC matters, and Joanna Pecenik in relation to law matters in Luxembourg.
Herbert Smith Freehills Kramer has also advised the CEFC several other natural capital projects, such as the forestry plantation project owned by the Tiwi Plantations Corporation and the transforming farming platform managed by Gunn Agri Partners, as well as a range of other investments, including in QIC Global Infrastructure Fund II, construction debt facilities alongside Real Estate Credit Partners IV, and Mirvac’s build to rent venture.
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