Startup Blue Forest secures funding for first privately financed forest fire bond

In a remote corner of the Sierra Nevada, a financial experiment is about to begin.
Once this winter’s snow melts, workers will cut down small trees and burn undergrowth across 5,000 acres of the Tahoe National Forest. But those workers won’t be paid by the U.S. Forest Service or any other public agency that typically funds forestry projects.
Instead, the roughly $4 million will come from two foundations, an investment firm and an insurance company — which hope to make money on the deal.
The forestry project, set to begin next summer, is the first financed by a forest resilience bond created by the nonprofit World Resources Institute and startup Blue Forest Conservation.