Qantas, BHP, and Rio Tinto jointly invest $80m in Silva Capital's Australian carbon credits fund for reforestation projects and ACCUs to aid emission reduction goals.
Qantas, BHP, and Rio Tinto are jointly investing $80 million in Silva Capital's Australian carbon credits fund, aiming to raise $250 million for land reforestation projects that generate Australian Carbon Credit Units (ACCUs). These units contribute to Australia's goal of reducing carbon emissions by 43% from 2005 levels by 2030. The fund will help companies, particularly those in high-emitting industries like mining and aviation, meet compliance obligations and climate targets by providing high-integrity carbon credits. Silva Capital's investments in farmlands will promote sustainable agricultural and land management practices, while supporting local farming communities and nature repair efforts.
August 12, 2024
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