Australian Resources Giants Back Carbon Capture Fund
BHP, Rio Tinto, and Qantas Invest A$80 Million
In an effort to support the development of carbon capture and storage (CCS) technologies, BHP, Rio Tinto, and Qantas have announced a joint investment of A$80 million in a new fund managed by Silva Carbon, an early-stage investor in nature-based carbon credit projects.
$53 Million USD Investment
The investment is part of a broader push by the Australian mining and energy sectors to reduce their carbon emissions. BHP and Rio Tinto are both major mining companies, and Qantas is the country's national airline. The investment in Silva Carbon will help to support the development of new technologies that can capture and store carbon dioxide from industrial processes and the atmosphere. This could help to reduce greenhouse gas emissions and mitigate the effects of climate change.
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