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Canadian pension fund La Caisse, together with Australia’s Clean Energy Finance Corp. (CEFC), is investing A$250 million in the launch of a diversified agricultural platform designed to generate Australian carbon credit units (ACCUs).
The platform — named Meldora — will combine sustainable agricultural production with large-scale environmental plantings under the ACCU scheme, a joint statement said on Monday.
Underpinning the investment is a commitment by global miner Rio Tinto (ASX: RIO) to serve as a “foundational offtaker” for the carbon credits generated by Meldora. The firm’s aim is to halve its scope 1 and 2 emissions by 2030 from 2018 levels, and the credits are expected to account for up to 10% of the reduction.
The Meldora platform will be managed by Australian agriculture and natural capital asset manager, Gunn Agri Partners (GAP). As its first asset, Meldora has…
