Australia’s national carrier Qantas will invest $80 million (US$53 million) in a carbon credits fund managed by Silva Capital.
Mining giants BHP and Rio Tinto, also part of the Australian Stock Exchange, will join Qantas as founding investors.
The fund aims to raise $250 million to manage Australian Carbon Credit Units produced via land reforestation projects.
Silva Capital develops carbon sequestration projects in Australia by acquiring or leasing agricultural land to secure carbon credits.
This investment will help Qantas meet its “compliance obligations” and achieve its climate targets by providing high-integrity carbon credits.
“Importantly, the fund will also help scale quality, nature-based carbon credits in the Australian market with social and economic benefits for local communities,” Qantas explained....
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