Rio Tinto backs new A$250m agriculture–carbon venture in Australia
The Clean Energy Finance Corporation (CEFC) and global investment group La Caisse have launched a A$250-million agricultural and carbon platform in Australia, with Rio Tinto signing on as a foundation offtaker of Australian Carbon Credit Units (ACCUs).
The Meldora platform, managed by Gunn Agri Partners, will integrate sustainable agricultural production with large-scale environmental plantings under the ACCU scheme. La Caisse has committed A$200-million alongside A$50-million from the CEFC, with the platform’s first acquisition being a 15 000 ha broadacre and irrigation farm in Central Queensland.
“Teaming up once again with the CEFC and GAP – and with Rio Tinto as a foundation offtaker – reinforces our confidence in this platform's ability to scale. It reflects La Caisse's commitment to sustainable land use and our broader net zero ambition,” said La Caisse executive VP and head of infrastructure and sustainability Emmanuel Jaclot.
The initiative is designed to produce high-quality carbon credits by restoring native vegetation, which will be maintained for between 25 and 100 years, providing long-term carbon sequestration and biodiversity gains.
CEFC head of natural capital Heechung Sung said the investment represented “a long-term investment in nature and land-based strategies in Australian agriculture,” adding that Rio Tinto’s offtake showed “a commitment to invest in high-integrity carbon credits”.
Meldora’s model is expected to deliver multiple benefits by producing agricultural commodities, generating carbon revenues and enhancing ecosystems. Gunn Agri joint MD Bradley Wheaton said the scale and diversification of the investment “redefines the future of farming".
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