World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Mitsubishi Corporation: Regeneration Project / Investment In Australian Integrated Carbon Pty Ltd

TOKYO, July 29, 2021 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that it has agreed to acquire a 40% interest in Australian Integrated Carbon Pty Ltd (AIC), which is engaged in the sale of carbon credits. The credits are obtained through CO2-sequstrations achieved in the regrowth of Australia's native forests through a process called human-induced regeneration.

Human-induced regeneration is an established methodology in Australia. It employs new land-management practices to facilitate the regeneration of native woodlands that have been lost over the past few centuries due to clearing and overgrazing. The amount of CO2 stored in the regenerated forests is officially certified as Australian Carbon Credit Units by the Australian Government. AIC aims to capture global CO2 emissions by 100 million tons through its growing portfolio.

Since 2015, the Australian Government contributed over 4.5 billion AUD to establish the country's carbon-credit auction market, the size of which had reached 16 million CO2 tons by 2020 and is today one of the largest in the world. The government is encouraging human- induced regeneration activities because in addition to being more feasible and cost-competitive than other decarbonization methods, they benefit farmers through revenue diversification, soil improvement, and biodiversity conservation. These activities are considered vital to achieving Australia's climate targets as set down under the Paris Agreement.

While MC remains committed to its own efforts to reduce its greenhouse gas emissions, it is equally proud to support forest-regeneration and other large-scale, CO2 sequestration projects that are dedicated to the decarbonization of our planet.

MC is excited about leveraging this investment in AIC to learn more about competitive forest-regeneration projects and help their growth throughout Australia and other parts of the world. This investment falls in step with MC's key sustainability objectives, which include "transitioning to a low-carbon society" and "growing together with local communities".

© Scoop Media

 
 
 
World Headlines

 



UN Report: Most Agricultural Funding Distorts Prices, Harms Environment

Around 87% of the $540 billion in total annual government support given worldwide to agricultural producers includes measures that are price distorting and that can be harmful to nature and health... More>>

UN: Support Afghans In Their Most Perilous Hour, Urges Guterres
The international community should urgently offer a “lifeline” to millions of vulnerable Afghans “who face perhaps their most perilous hour”, the UN Secretary-General said on Monday...More>>


Commonwealth: Championing Climate-vulnerable Small States At COP26

The Commonwealth Secretary-General Patricia Scotland called for urgent action to ensure improved climate resilience of small states and promised to amplify the concerns of small and other vulnerable states around climate change at the upcoming United Nations Climate Change Conference...
More>>


Focus On: UN SDGs

UN: More Than 130 Countries Expected To Announce National Commitments At UN Food Systems Summit
The Heads of State and Government from more than 90 countries are expected to announce their commitments to transform food systems to achieve the Sustainable Development Goals at the historic UN Food Systems Summit next week... More>>

UN: Only 2% Of Covid-19 Vaccines Have Been Administered In Africa

More than 5.7 billion COVID-19 vaccine doses have been administered globally, but only 2% of them in Africa, said World Health Organization (WHO) chief, Tedros Adhanom Ghebreyesus on Tuesday... More>>


UN: Climate Action Essential To Cool ‘Season Of Fire And Floods’ Worldwide

With extreme weather events increasingly impacting countries across the world, the deputy UN chief on Monday underlined the importance of limiting temperature rise to the internationally agreed goal of 1.5 degrees Celsius above pre-industrial levels... More>>