Almost 30,000 acres of forestland in the Upper Peninsula have been purchased, with sustainable management a goal, according to the companies involved in the purchase. The property lies within Schoolcraft, Mackinac, Alger, Chippewa and Luce counties. (Photo courtesy of Anew Climate, LLC)

By Journal Staff

MANISTIQUE — Bluesource Sustainable Forests Co. has purchased 29,019 acres of forestland in the Upper Peninsula from the affiliates of The Lyme Timber Company. BSFC is a joint venture of Oak Hill Advisors, L.P., and Anew Climate, LLC.

This purchase marks BSFC’s third forestland acquisition since its formation in October 2021, following two purchases totaling 52,000 acres in New York’s Adirondack region, Anew said in a news release. Anew, a climate solutions provider to a broad range of public and private organizations, and OHA, an alternative investment firm, are partnering on strategic forestry investments and direct management to lead change in the timber industry.

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, Anew said.

The property lies within Schoolcraft, Mackinac, Alger, Chippewa and Luce counties. This property will add to the over 90 North American forest carbon projects covering over 4 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 balance carbon sequestration and forest health, the company said. 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 visits to the property have identified a host of opportunities for the ecosystem through this protection, Anew said. This area is an important migratory stopover for the sandhill crane, and its abundant milkweed supports pollinators such as the monarch butterfly. The property will also provide stable habitat for area mammals, including deer, bear and wolves.

To allow the forest to grow and carbon stocks to increase, selective harvesting is not planned in the immediate future for this property. Anew indicated it will ensure that the land will remain open for public recreational access and sustainably managed for the benefit of people and wildlife alike.

“Michigan is a state that is rich in its forests, and it is an area where we have a successful and long track record of managing forests for carbon in partnership with a variety of landowners,” said Jamie Houston, president of BSFC, in a news release. “We’re proud to have another opportunity to bring our direct knowledge and experience to bear here and show what’s possible. You can sustain logging in a way that doesn’t harm the environment, in a way that positively addresses the greatest challenge of our time.”

Anew and BSFC will continue to target forestland where selective harvesting can prioritize and balance critical carbon capture while maintaining sustainable forest products that local and national communities need to survive and thrive. While the property around Manistique has been purchased directly, other future purchases have the potential to become a co-investment alongside traditional timber managers and investors who are willing to engage in climate-oriented forestry practices, Anew said. These investments may take the form of joint ownership, acquisition of timber deeds or portfolio acquisitions.

“The Manistique acquisition is consistent with BSFC’s mission — expanding our growing portfolio of forestlands that are well suited to sustainable management practices and carbon sequestration projects,” said Adam Kertzner, portfolio manager and senior partner of OHA, in a news release. “We are pleased to continue to execute our business plan and deploy capital that we believe will be accretive to our investors while providing tangible environmental benefits.”