Thursday, February 23, 2023 - 07:00

A California fund to encourage wildfire innovation and lower the severity and frequency of catastrophic wildfire is getting a $25 million boost.

Walnut Creek, Calif.-based CSAA Insurance Group made a $25 million commitment to the California Wildfire Innovation Fund, a climate-solutions strategy to help reduce the severity and frequency of catastrophic wildfires by supporting forest restoration-related economic development.

The fund was developed by CSAA Insurance Group in partnership with Blue Forest, a non-profit behind the Forest Resilience Bond, which uses private capital to finance forest restoration projects for wildfire prevention.

It targets emerging investment opportunities in forest restoration, wood utilization and wildfire mitigation, with an emphasis on industries and projects that add system capacity, create value for forest restoration byproducts, and carbon storage and sequestration.

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