The investment is part of a wave of institutional and sovereign wealth capital being funnelled into efforts to reduce on-farm carbon emissions
Macquarie-owned Paraway Pastoral has secured a $75 million capital injection from the federal government’s Clean Energy Finance Corporation as the farming giant ramps up its efforts to reduce methane gas emissions across its 4.5 million-hectare portfolio of livestock stations and cropping properties.
Agriculture contributes around 13 per cent of Australia’s greenhouse gas emissions, and nearly half of potent methane gas emissions – mostly from belching cows.Paraway, which operates 28 pastoral and cropping farms with the capacity to run more than 220,000 cattle and 250,000 sheep, has set a target of reducing its methane intensity by at least 30 per cent by 2030 in line with Global Methane Pledge to which 121 countries are signatories .
Mr Learmouth said Paraway’s portfolio of farms was ideally suited to test some of the new emission reduction technologies and farming practices. The investment in the Macquarie Pastoral Fund follows the CEFC tipping $50 million into a regenerative farming platform launched in October that under the management of agricultural funds specialist Gunn AgriThe CEFC’s investment was made alongside a similar commitment from a global impact fund backed by one of the Netherlands’ biggest pension funds.
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