Tuesday, August 13, 2024 Qantas , Rio Tinto, and BHP invest in Silva Carbon Origination Fund to advance high-integrity, nature-based carbon projects in Australia, boosting climate efforts. Qantas has joined forces with Rio Tinto and BHP as foundational investors in a new initiative aimed at developing high-integrity, nature-based carbon projects in Australia. This initiative is overseen by Silva Capital, a collaboration between Roc Partners and C6 Investment Management.
The Silva Carbon Origination Fund is set to raise $250 million, focusing on the origination and management of Australian Carbon Credit Units (ACCUs) with a high standard of integrity. As one of the first funds in Australia to offer large-scale access to high-integrity ACCUs, the fund will generate these credits through land reforestation and integrated agriculture projects. The foundational investors have already committed $80 million, with Qantas contributing through its AUD$400 million Climate Fund.
Established in 2023, the Climate Fund is designed to support Qantas Group’s decarbonization efforts, including investments in Sustainable Aviation Fuel (SAF) in collaboration with Airbus. In addition to direct decarbonization technologies like SAF, high-integrity carbon offsets are expected to play a crucial role in hard-to-abate sectors such as aviation. The Australian Government’s Safeguard Mechanism Policy and the global emissions reduction goals of the Paris Agreement are anticipated to drive demand for h.