BHP, Rio Tinto, and Qantas Invest in Australian Carbon Credits Fund
Early-Stage Investors Commit A$80 Million
By Reuters
Mining companies BHP and Rio Tinto, along with airline company Qantas, have announced their joint investment of A$80 million (US$527 million) as early-stage investors in an Australian carbon credits fund. The investment marks a significant step towards supporting the development of a domestic carbon market in Australia.
The fund, managed by investment firm Silva Carbon, aims to invest in projects that reduce greenhouse gas emissions, such as renewable energy and carbon capture and storage. The investment from BHP, Rio Tinto, and Qantas will provide critical capital to these projects, helping to accelerate the transition to a low-carbon economy.
Australia is the world's second-largest exporter of coal and gas, but is also home to vast renewable energy potential. The government has set a target of net-zero emissions by 2050, and investments like these will play a key role in achieving that goal.
The investment from BHP, Rio Tinto, and Qantas is a strong signal of the growing interest in carbon credits as a way to reduce emissions and support sustainable development.
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