CSAA Insurance Group announced a $25 million commitment to the California Wildfire Innovation Fund, a climate-solutions strategy that aims to decrease the severity and frequency of catastrophic wildfire by supporting forest restoration-related economic development. The California Wildfire Innovation Fund was developed by CSAA Insurance Group in partnership with Blue Forest, the non-profit behind the Forest Resilience Bond, which deploys private capital to finance forest restoration projects for wildfire prevention. CSAA Insurance Group was one of the Forest Resilience Bond’s first investors.
The California Wildfire Innovation Fund is managed by Blue Forest Asset Management, and targets emerging investment opportunities in forest restoration, wood utilization, and wildfire mitigation. Emphasis is placed on industries and projects that add system capacity, create value for forest restoration byproducts, and unlock carbon offset revenue through carbon storage and sequestration.
“We’re excited to launch the California Wildfire Innovation Fund in partnership with CSAA, because it’s specifically tailored to create strategic value for insurance company investors by aligning wildfire risk reduction outcomes with compelling financial returns,” said Zach Knight, CEO of Blue Forest. “Through local investment, we can help build the restoration economy for forest resiliency projects, create sustainable jobs, and develop the forestry infrastructure necessary to tackle the wildfire crisis.”
Blue Forest is a conservation finance non-profit focused on forest restoration.
