Canadian institutional investor La Caisse and Australia’s Clean Energy Finance Corporation (CEFC) have announced the launch of Meldora, a new sustainable agriculture platform focused on generating carbon credits. The platform is being initiated with a AUD$250 million investment, comprising AUD$200 million from La Caisse and AUD$50 million from CEFC. A significant partnership has been established with Rio Tinto, which will serve as a foundation offtaker.
Meldora’s objective is to produce high-quality Australian carbon credit units (ACCUs) by combining large-scale sustainable agricultural production with long-term Environmental Plantings. This methodology involves planting and maintaining native vegetation for a minimum of 25 years, extending up to a century for some projects, thereby offering long-term carbon sequestration and biodiversity benefits. The investment is supported by a long-term offtake agreement with Rio Tinto for a portion of the ACCUs to be generated.
Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and Sustainability at La Caisse, commented that the investment marks a significant step towards promoting resilient, climate-smart agriculture in Australia while delivering measurable environmental and economic outcomes. He emphasised La Caisse’s dedication to sustainable land use and their broader ambition for net-zero emissions, positioning themselves early in the expanding market for high-quality carbon credits.
The management of Meldora will be undertaken by Gunn Agri Partners (GAP), an Australian agriculture and natural capital asset manager. Meldora has already acquired its first asset, a broadacre and irrigation farm spanning over 15,000 hectares in Central Queensland. Bradley Wheaton, Managing Director of GAP, highlighted the ambitious nature of the investment, noting its unique integration of native vegetation restoration within an institutional-quality agricultural investment. The diversified model, encompassing irrigation, dryland cropping, and carbon credit generation, aims to redefine the future of farming.
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