BHP, Rio Tinto and Qantas invest $80 million in nature-based carbon credits fund

Industry giants back $250 million fund

Australian companies BHP, Rio Tinto and Qantas are investing a total of $80 million in a new fund that will develop high-integrity nature-based carbon credits.

The fund, which is managed by carbon assets and investment manager Silva Capital, will invest in projects that reduce greenhouse gas emissions and protect biodiversity. It has already received $80 million from cornerstone investors BHP, Rio Tinto and Qantas.

The fund will invest in a range of projects, including reforestation, afforestation, and improved land management practices. These projects will generate carbon credits, which can be sold to companies to offset their emissions.

The investment by BHP, Rio Tinto and Qantas is a significant step forward for the development of a robust and credible nature-based carbon market in Australia. The fund will help to finance projects that reduce emissions and protect biodiversity, and it will also provide a new revenue stream for farmers and landholders.