Through your use of the … This important project in Minnesota represents an innovative approach to conservation finance, one that is now attracting for-profit investment firms—an affirmation that holds great promise for future land conservation, and that is testament to both the soundness of our conservation strategies, and the Fund's ability to deliver on projects.”. The constraint we have is just the size of our capital base to acquire and hold these forests and Goldman sacks understood that. The timberlands sold in this transaction were heavily weighted to more remote areas, ideal for conservation and working forest protection. Top-ranked for efficiency and effectiveness, we have worked in all 50 states since 1985 to protect more than eight million acres of land, including more than 311,000 acres in Minnesota in places like the iconic Boundary Waters Canoe Area Wilderness and at one of the most important birding sites in North America, Sax Zim Bog. In 2019, The Conservation Fund worked with Goldman Sachs to issue the nation’s first green bond solely dedicated to conservation in the United States. Goldman Sachs Funds, plc (an investment company with variable capital incorporated with limited liability in Ireland with registered number 252159 and established as an umbrella fund with … In 2019, The Conservation Fund worked with Goldman Sachs to issue the nation’s first green bond solely dedicated to conservation in the United States. The sustainable management of biologically diverse forests helps build resiliency and adaptability to stresses caused by changing environmental conditions. PotlatchDeltic Corporation (NASDAQ: PCH) has completed the previously announced sale of 72,440 acres of forestland in northern and central Minnesota to The Conservation Fund for nearly $48 million. Pages Businesses Finance Financial Service Goldman Sachs … All forward-looking statements speak only as of the date hereof, are based on current expectations and involve and are subject to a number of assumptions, risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. PotlatchDeltic values conservation initiatives as an important component of our commitment to environmental stewardship. Their vision is to accelerate conservation in a smart way, creating solutions that make environmental and economic sense. 31,000 acres of Minnesota’s Heritage Forest are in the headwaters area of the Mississippi River, which supports more than 350 wildlife species, including many of the endangered, threatened and rare species listed in Minnesota like the northern long-eared bat, red-shouldered hawk and Blanding’s turtle. The Conservation Fund was able to acquire the property through its green bond partnership with Goldman Sachs. The Conservation Fund’s purchase will provide time for the development and implementation of permanent conservation strategies with local partners that will preserve working forestlands and safeguard jobs, while also protecting water quality and wildlife habitat, contributing to local economies and allowing for recreational access. More information can be found at www.potlatchdeltic.com. Progress is when a nonprofit pioneers a model to protect our forests while providing economic opportunities for rural communities. In November 2005, Goldman Sachs established our Environmental Policy Framework, which articulated our belief in the importance of a healthy environment and our commitment to addressing … Malaysia: These materials are issued by Goldman Sachs (Malaysia) Sdn Bhd in connection with the fund management services it provides and is solely for your information and upon your request. Fund is to really accelerate conservation in a smart way. With this transaction and others underway, this partnership has been the catalyst to conserve more than 200,000 acres in the State of Minnesota for various conservation purposes, including working forests, protection of important habitats and public access. See how The Conservation Fund and Goldman Sachs worked to issue the nation’s first green bond solely dedicated to conserving and protecting working forests in the United … Forests provide clean air, clean water and wildlife habitat. The Conservation Fund is working to change that story. Jerry Richards protecting working forests in the United States. Each of these stories illustrates why Goldman Sachs believes "Progress is Everyone’s Business." “This transaction represents a significant milestone in our long-term strategy to maximize shareholder value through rural real estate sales,” said Mike Covey, chairman and chief executive officer of PotlatchDeltic. View source version on businesswire.com: https://www.businesswire.com/news/home/20201119005328/en/, For PotlatchDeltic There is no guarantee that any of the events anticipated by these forward-looking statements will occur. The average expense ratio from all Goldman Sachs mutual funds is 0.16%. These 10-year green bonds raised $150 million to accelerate and scale The Conservation Fund’s mission of protecting 5 million acres of America’s working forests. Learn more at www.conservationfund.org and www.workingforestfund.org. asimonelli@conservationfund.org. This press release features multimedia. It refers to forestland that is managed sustainably, allowing the harvest of wood for local industries, while ensuring the forest grows more each year than is logged, protecting all of nature’s benefits. Goldman Sachs Funds Goldman Sachs is a company that sells mutual funds with $20,794M in assets under management. 1-509-835-1521, For The Conservation Fund Many of Minnesota’s Heritage Forest tracts are adjacent to existing public lands and will build on the network of large, protected landscapes of undivided forests that are essential to the ecology of the region and provide important habitat corridors for wildlife. CFN spoke to Conservation Fund CEO Larry Selzer about how the organization will use bond funds, the experience of offering a bond as a nonprofit, and the significance of the project for the conservation finance … The Conservation Fund will manage the forestland, now called Minnesota’s Heritage Forest, for wildlife, water quality and sustainable timber harvesting, while continuing traditional recreational uses, including hunting and fishing. the nation’s first green bond solely dedicated to conserving and The Conservation Fund, with Goldman Sachs’ help, was able to tap the capital markets and together issued the nation’s first green bond solely dedicated for conservation. 0:18. At The Conservation Fund, we make conservation work for America. Ann Simonelli The $48 million for the purchase came from private funds, it said, including the Richard King Mellon Foundation … The Conservation Fund is a national nonprofit organization operating across all 50 states, chartered for both conservation and economic development. Sign up for BRIEFINGS, a weekly email about trends shaping markets, industries and the global economy. 100.00% of these mutual funds are no load funds. “Our temporary ownership provides time to develop permanent conservation strategies best suited for our partners and the lands that include public access and recreational opportunities under future county, state, tribal, and local government ownership,” said Kim Berns-Melhus, Minnesota state director for The Conservation Fund. OVERVIEW: The philanthropic project of former Goldman Sachs partner Larry Linden, the Linden Trust for Conservation focuses on market-based approaches that can provide long-term financing, mostly for land protection. Over the past three decades, the United States has lost 36 million acres of forest land - that is the size of New York State. Mark Tercek had some horribly awkward moments after he left Goldman Sachs to run a U.S. environmental charity, the Nature Conservancy. The offering attracted significant interest from a mix of clients, including institutional investors and family offices. Capital from the bonds, as well as … the goldman sachs philanthropy fund ("gspf") accomplishes its charitable purposes by receiving charitable contributions and making grants exclusively for religious, charitable, scientific, literary, or … Yesterday. Goldman Sachs served as sole underwriter of these green bonds and structured them to offer a market rate of return. Sam Reiman, director of the Richard King Mellon Foundation, said: “The Foundation's partnership with The Conservation Fund spans more than 30 years, and together we have protected nearly 3.7 million acres in all 50 states. The environmental nonprofit offered the 10-year notes in order to expand its Working Forest Fund, a program that aims to place permanent conservation easements on private, sustainably harvested timberlands. The Conservation Fund will work with its local partners to secure federal and state funding, as well as private support in order to implement permanent conservation solutions on these lands and transfer ownership to primarily public and tribal entities over the next decade. The Conservation Fund was founded in 1985 and is headquartered in Arlington, VA. At one of his first big staff meetings, he … In 2012, Goldman Sachs raised $6.5 billion for 1MDB through bond issues for which it reaped fees of $593 million. Analyze the Fund Goldman Sachs Clean Energy Income Fund Class A Shares having Symbol GCEBX for type mutual-funds and perform research on other mutual funds. Once the working forest is acquired by one or more public agencies, best practices of sustainable forestry are locked in and the land cannot be developed. PotlatchDeltic (NASDAQ: PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. One hundred percent of the proceeds from these green bonds will go towards achieving permanent land conservation, mitigating climate change, protecting natural ecosystems and strengthening rural economies. The Conservation Fund, with Goldman Sachs’ help, was able to tap the capital markets and together issued the nation’s first green bond solely dedicated for conservation. The Foundation’s 2019 endowment was $2.7 billion and its Trustees in 2019 awarded 172 grants totaling $129 million, focused on the Foundation’s strategic priorities: economic development, education, and human services in Southwestern Pennsylvania, and environmental conservation across the United States. By creating solutions that make environmental and economic sense, we are redefining conservation to demonstrate its essential role in our future prosperity. These forests also provide carbon dioxide-absorbing benefits to help fight climate change. In 2019, The Conservation Fund worked with Goldman Sachs to issue the nation’s first green bond solely dedicated to conservation in the United States. If any of the events occur, there is no guarantee what effect they will have on PotlatchDeltic’s operations, financial condition or results of operations. Goldman Sachs … Goldman Sachs Recognized by Reuters Responsible Business Awards In honor of the firm’s collaboration with The Conservation Fund on issuing the nation’s first green bond solely dedicated to … Goldman Sachs Philanthropy Fund (“GSPF”) does not provide legal, tax or accounting advice. Working Lands Principal at The Conservation Fund and Executive Director at Leading Harvest ... including 2019 issuance of $150 million green bond for forest conservation with Goldman Sachs … Pages Businesses Finance Financial Service Goldman Sachs … “Our Minnesota ownership was approximately 330,000 acres when we began our rural land sale program over a dozen years ago. Learn more about mutual funds at fidelity.com. The lumber mill in Bemidji will continue to be owned and operated by PotlatchDeltic as it has for nearly 30 years with logs supplied from Minnesota’s Heritage Forest, supporting the essential jobs required to deliver and process the trees. We have worked in all 50 states, saving more than 8 million acres of land and water since 1985. NEWS from THE WHITLEY FUND FOR NATURE . The Conservation Fund worked with Goldman Sachs to issue the nation’s first green bond solely dedicated to conservation in the United States. View the full release here: https://www.businesswire.com/news/home/20201119005328/en/. By protecting the jobs linked to working forests, The Conservation Fund is living up to its unique dual charter in the US of both conservation and economic development. This outcome is the culmination of work over the last decade between The Conservation Fund and PotlatchDeltic to achieve both conservation and economic goals. Our goal is to protect five million acres of working forests across the country, and our purchase of PotlatchDeltic’s acreage in Minnesota accelerates that effort by taking an important first step to ensure the majority of these lands remain forested and will continue to be sustainably managed as working timberlands.”. These 10-year green bonds … Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! So what is a working forest? The summary prospectus, if available, and the Prospectus contain this and other information about a Fund and may be obtained from your authorized dealer or from Goldman Sachs & Co. LLC by calling (retail—1-800-526-7384) (institutional—1-800-621-2550). See how BlackLine’s relentless focus on customers is helping companies transform their finance and accounting operations. See how The Conservation Fund protects our forests while providing economic opportunities for rural communities. Progress is when a company reinvents one of the world’s oldest industries to empower modern organizations. You should obtain independent tax advice based on your particular situation. And we continue to lose over a million acres of forest each year to fragmentation and development. Whitley Award donated by Goldman Sachs Hotlin Ompusunggu … “We will work to better align and consolidate public forest holdings through land exchanges and direct conveyances resulting in improved economic returns to community, state and tribal governments, as well as enhancing revenue for Minnesota school districts throughout the state.”, “The Conservation Fund’s goals for purchasing 15,000 acres of PotlatchDeltic land in St. Louis County are seamlessly consistent with the County’s own resource management goals, which include improving forest health and productivity, protecting wildlife habitat and water quality, providing raw materials for local industry, and providing opportunities for tourism and recreation,” said Keith Musolf, St. Louis County commissioner and chair of the Environment and Natural Resources Committee. When the conservation about Goldman Sachs’ partnership structure comes up, many remark upon how even today’s lower figure remains extremely high compared to average executive … Founded in 1947, the Richard King Mellon Foundation is the largest foundation in southwestern Pennsylvania, and one of the 50 largest in the world. The company undertakes no obligation to update these forward-looking statements after the date of this news release. The Conservation Fund operates in all 50 states and is based out of Arlington, Va. The national nonprofit dedicated to protecting environmentally and economically significant natural spaces will work with county, state, tribal, and local governments to determine the best conservation and sustainable management outcomes for the forestland, with the goal of transferring ownership to public and tribal entities over the next decade. Goldman Sachs has had a long commitment to harnessing markets to address critical environmental issues including climate change and conservation. The Conservation Fund. Goldman Sachs & Co. LLC is serving as sole underwriter of the bonds. FREE Breaking News Alerts from StreetInsider.com! The Richard King Mellon Foundation has quietly established itself over decades as one of the primary leaders in the history of the United States in the protection of environmentally sensitive areas through land acquisition. See how the Goldman Sachs 10,000 Small Businesses program is providing business education, access to capital and mentoring to small businesses across the United States. The lands acquired by The Conservation Fund are in 14 counties— Aitkin, Becker, Beltrami, Carlton, Cass, Clearwater, Crow Wing, Hubbard, Itasca, Kanabec, Koochiching, Morrison, St. Louis, and Wadena. See how The Conservation Fund and Goldman Sachs worked together to issue Capital from the bonds, as well as support from the Richard King Mellon Foundation were utilized in the nonprofit’s purchase of Minnesota’s Heritage Forest. This communication contains statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding PotlatchDeltic’s long-term strategy, expected real estate closings, and continued operation of its lumber mill in Minnesota. As The Conservation Fund watched millions of acres of working forestlands come up for sale year after year, they realized they needed a new approach. They pioneered a unique model in 2009 that allows them to acquire at-risk privately held forests, put a conservation easement in place, and then hold these forests on their balance sheet until a permanent conservation outcome is found. The Conservation Fund is the nation's top environmental nonprofit. They also offset 15% of our nation’s carbon emissions and provide and support 8.6 million jobs in rural communities. This funding source enables The Conservation Fund to purchase … The Conservation Fund’s acquisition was possible through its Working Forest Fund®, dedicated to mitigating climate change, strengthening rural economies and protecting natural ecosystems through the permanent conservation of at-risk working forests. The solar underwriter of the transaction is Goldman Sachs & Co LLC. We are proud of our ongoing partnership with The Conservation Fund and the tremendous outcomes transactions like these have on jobs, wildlife and public benefit.”. Working with public, … See how Goldman Sachs is committed to Newark’s revitalization. Princess presents top conservation accolade to Indonesian health carer. "By combining the power of the marketplace with the passion of philanthropy we aim to make a real difference in our nation's efforts to protect forests, address climate change and lift up rural economies," said Larry Selzer, CEO of The Conservation Fund… Yesterday. Whether that makes the bank a "vampire squid," in … The Conservation Fund … BlackLine ... Goldman Sachs is Committed to Progress. "The first thing you need to know about Goldman Sachs," Rolling Stone's Matt Taibbi wrote in July 2009, "is that it's everywhere." The bond was underwritten by Goldman Sachs. While at Goldman, Bob also spent six years as one of three external advisors to Singapore’s Government Investment Corporation (GIC). 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