BHP, Rio Tinto, Qantas invest $52.7m in Australian carbon credits

BHP, Rio Tinto, and Qantas will collectively invest A$80 million ($52.7 million) in an Australian carbon credits fund focused on land reforestation projects.

The fund, managed by Silva Capital—a joint venture between Roc Partners and C6 Investment Management—aims to raise A$250 million to generate and manage Australian Carbon Credit Units (ACCUs).

The investment aligns with Australia’s target to cut carbon emissions by 43 per cent from 2005 levels by 2030.

ACCUs, issued by the Australian government’s $3 billion Emissions Reduction Fund (ERF), support projects that prevent deforestation, regenerate native forests, or capture methane from landfills.

Silva Capital plans to channel investments into farmlands for large-scale carbon sequestration and sustainable land management.

Attribution: Reuters