The unique model is hoped to revolutionise Australian corporate support for carbon farming
Baker McKenzie has played a key role in the establishment of Australia’s first private carbon trading fund.
The global firm advised the Aboriginal Carbon Fund on the founding of the Reducing Building Communities Fund (RCBC Fund).
The fund was established to build links between organisations that are carbon neutral or are offsetting their climate impacts with Australian carbon credit units that have certified environmental, social, and cultural values.
“The firm is proud to support the Aboriginal Carbon Fund establish the RCBC fund, which will provide an innovative and cost-effective way to invest in rural farming economies, support Indigenous communities and tackle climate change,” said Bill Fuggle, who heads Baker McKenzie’s financial services and funds practice in Australia. “It’s a privilege to help make a difference in relation to climate change and indigenous communities through this project.”
Fuggle jointly led the Baker McKenzie team on the deal with Martijn Wilder AM, the global head of the firm’s environmental markets and climate change practice.
“This model is unique and is hoped will revolutionise Australian corporate support for carbon farming in Australia. There is significant potential for this model or parts of this model to be embraced by indigenous communities in other countries,” Wilder said.