Bluesource Sustainable Forests Co. (“BSFC”) has purchased 29,019 acres of forestland in northern Michigan from the affiliates of The Lyme Timber Company. Acquired properties will be managed under sustainable working forest practices that prioritize carbon sequestration and long-term forest health while maintaining a level of commercial harvest that supports the local economy and the climate.
The Manistique property resides within the Schoolcraft, Mackinac, Alger, Chippewa, and Luce counties. This property will add to the over 90 North American forest carbon projects covering over four million acres that Anew currently manages in partnership with landowners, 11 of which are also located in Michigan. Decades of forestry and carbon experience will inform the management of the land to increase carbon sequestration and forest health. When deemed appropriate, BSFC plans to initiate a selective logging operation well below annual growth levels. This will allow these forests to continue as working forestlands to support the local economy and produce high value forest products, while also developing carbon credits that are measured and verified.
BSFC is a joint venture between Oak Hill Advisors, L.P. and Anew Climate, LLC.
