Allens has advised Mitsubishi Corporation on the acquisition of a 40 per cent interest in Australian Integrated Carbon Pty Ltd (AIC), a carbon farming developer who assists landholders in generating Australian carbon credit units.
AIC obtains carbon credits through human-induced regeneration, a process that involves CO2-sequestrations achieved in the regrowth of Australia’s native forests.
The acquisition will assist Mitsubishi in achieving its sustainability objectives, which include ‘transitioning to a low-carbon society’ and ‘growing together with local communities’.
Lead Partner, Penny Alexander said, ‘We congratulate Mitsubishi on this significant transaction and are pleased to have worked with the organisation on a key investment that assists the company in achieving its environmental goals.’
Australian carbon farming continues to attract significant investment interest from private equity firms and major companies.