Mitsubishi enters Australian carbon market with 40% stake in AIC
SYDNEY, NNA - Japanese trading house Mitsubishi Corp. has acquired a 40 percent stake in Australian Integrated Carbon Pty. Ltd., a nature-based carbon credit trader, making its first foray into the Australian carbon market.
The investment falls in step with Mitsubishi's key sustainability objectives, including "transitioning to a low-carbon society" and "growing together with local communities," the Japanese company said in a press release last Thursday. It did not disclose its investment amount.
By becoming the largest shareholder in AIC, Mitsubishi will support Australian livestock farmers to regenerate native woodlands and deal with credits obtained through sequestrations of carbon dioxide achieved in the regrowth of Australia's native forests, a Mitsubishi official said.
It is Mitsubishi's first participation in the CO2 emissions trading business involving the regeneration of native forests, the official told NNA. (NNA/Kyodo)