TOKYO, July 29, 2021 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that it has agreed to acquire
a 40% interest in Australian Integrated Carbon Pty Ltd (AIC), which is engaged in the sale of carbon credits. The
credits are obtained through CO2-sequstrations achieved in the regrowth of Australia's native forests through a process
called human-induced regeneration.
Human-induced regeneration is an established methodology in Australia. It employs new land-management practices to
facilitate the regeneration of native woodlands that have been lost over the past few centuries due to clearing and
overgrazing. The amount of CO2 stored in the regenerated forests is officially certified as Australian Carbon Credit
Units by the Australian Government. AIC aims to capture global CO2 emissions by 100 million tons through its growing
portfolio.
Since 2015, the Australian Government contributed over 4.5 billion AUD to establish the country's carbon-credit auction
market, the size of which had reached 16 million CO2 tons by 2020 and is today one of the largest in the world. The
government is encouraging human- induced regeneration activities because in addition to being more feasible and
cost-competitive than other decarbonization methods, they benefit farmers through revenue diversification, soil
improvement, and biodiversity conservation. These activities are considered vital to achieving Australia's climate
targets as set down under the Paris Agreement.
While MC remains committed to its own efforts to reduce its greenhouse gas emissions, it is equally proud to support
forest-regeneration and other large-scale, CO2 sequestration projects that are dedicated to the decarbonization of our
planet.
MC is excited about leveraging this investment in AIC to learn more about competitive forest-regeneration projects and
help their growth throughout Australia and other parts of the world. This investment falls in step with MC's key
sustainability objectives, which include "transitioning to a low-carbon society" and "growing together with local
communities".