Qantas is among three initial investors in a new fund that will “develop high-integrity, nature-based” carbon projects in Australia, the carrier announced Monday.
Qantas, along with Rio Tinto and BHP, committed A$80 million (nearly US$53 million) toward the fund, managed by Silva Capital, which aims to raise A$250 million. Qantas’ share will come from the its Climate Fund, established in 2023.
Silva Capital acquires agricultural land in Australia to develop carbon sequestration projects that promote sustainable agricultural and land management practices, according to Qantas. The carrier said its investment will help it to meet its compliance obligations and progress its climate targets.
