Through a joint venture with California-based agricultural firm Pomona Farming, the Public Sector Pension Investment Board is buying about 165 square kilometres of land to diversify into GMO-free farms.

Formerly used by Alexander & Baldwin Inc. to grow sugar cane, the land is on the Hawaiian island of Maui. The venture, called Mahi Pono, which translates to ‘farm’ or ‘cultivate morally and properly,’ is planning a broad range of sustainable agricultural operations for the land.

Read: Where do Canada’s farms belong in institutional portfolios?

“With our purchase of this fertile land, we want to help ensure that Maui’s residents can produce agricultural products for future generations,” said Ann Chin, president of Mahi Pono. “We want to expand Maui’s thriving and diversified agriculture industry. As we develop our plans, we will work closely with local stakeholders, including the agricultural community, our neighbours, government officials, civic leaders and the community.”

The venture is aiming to produce food for local consumption, with the potential to export, as well as creating jobs for local residents.

Read: Caisse invests in Quebec-based brewer, Ontario Teachers’ buys Australian avocado farm

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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