BHP, Rio Tinto, and Qantas Invest $80 Million in Carbon Credits Fund

Australian Firms Join Forces to Support Emissions Reduction

Silva Capital's Fund Receives Early-Stage Investment

SYDNEY, Australia (Reuters) - Mining giants BHP and Rio Tinto, along with airline company Qantas, have announced a combined investment of A$80 million ($53 million) in Silva Capital's Silva Carbon Origination Fund.

The investment marks the first close of the fund and demonstrates the growing interest in carbon credits as a means of reducing emissions and combating climate change.

Silva Capital, an Australian investment firm specializing in carbon credits, aims to use the funds to develop and acquire carbon credits from projects that reduce or sequester greenhouse gases.

BHP and Rio Tinto have both set ambitious targets for emissions reduction, while Qantas has pledged to achieve net-zero emissions by 2050. The investment in carbon credits is seen as a key step towards reaching these goals.

Conclusion

This investment by BHP, Rio Tinto, and Qantas sends a strong signal that Australia's corporate sector is taking climate change seriously. The funds will help finance innovative projects that reduce emissions, showcasing the potential of carbon credits as a valuable tool in the fight against climate change. As more companies recognize the importance of sustainability, Silva Capital's fund is poised to play a crucial role in enabling Australia's transition to a low-carbon economy.