Commonwealth Bank of Australia (CBA) has made a minority equity investment in Nindethana Seed Service Pty Ltd (Nindethana) to support the expansion of Australia’s native seed market and help meet growing demand from carbon sequestration and biodiversity restoration projects.
The investment sees CBA enter into a strategic partnership with Greening Australia Limited, a not-for-profit environmental enterprise and majority shareholder of Nindethana. As part of this partnership, CBA and Greening Australia are collaborating on a broad programme of work to explore opportunities to support Australia’s carbon market with a focus on carbon credit supply.
Andrew Hinchliff, group executive institutional banking and markets of CBA said: “Our investment in Nindethana will help to address current supply constraints in native seed, as demand grows from both carbon abatement projects and organisations seeking to help restore land that has been impacted by natural disasters or heavy industrial usage.”
“We want to play our part in helping to preserve and foster Australia’s biodiversity and unique ecosystems while also helping grow an industry that will play a critical role in helping to meet national climate commitments,” he added.
Re-disseminated by The Asian Banker