Mitsui to Participate in Forestry Carbon Credit Investment in Australia
Mitsui & Co., Ltd. announced that it had invested in a forestry carbon offset fund in Australia, jointly developed with and managed by New Forests Pty Limited , leveraging Mitsui's experience in the plantation and pulp wood sectors over three decades in the country.
The total investment will be approximately AUD 50 million in the initial phase, and the total estimated volume of carbon offset contribution to be generated through plantation activities will be around 4 million tCO2e, which will be further scaled up to over 10 million tCO2e depending on the market demand. Mitsui aims to combine this low carbon investment with its forestry expertise and contribute to achieving net zero emissions of Mitsui group and its business partners by 2050.
