The Quebec pension fund invested AUD$200 million ($182 million) to develop the new reforestation platform, while the Australia-based Clean Energy Finance pitched in the remaining AUD$50 million ($46 million). Under the program, companies can generate carbon credits by linking their agricultural production to native vegetation growth efforts, thereby reducing carbon dioxide emissions. (The Logic)
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The Quebec pension fund invested AUD$200 million ($182 million) to develop the new reforestation platform, while the Australia-based Clean Energy Finance pitched in the remaining AUD$50 million ($46 million). Under the program, companies can generate carbon credits by linking their agricultural production to native vegetation growth efforts, thereby reducing carbon dioxide emissions. (The Logic)
Talking point: This is the latest example of Canadian firms investing in platforms that aim to offset emissions by buying or planting large swaths of forested lands to absorb CO2. Mining giant Rio Tinto has already agreed to buy credits under La Caisse’s new platform, called Meldora. Australian farmland manager Gunn Agri Partners will oversee the program, which will plant native vegetation on lands and then maintain those lands for the next 25 to 100 years.
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