BHP backs bond to help limit deforestation
PERTH (miningweekly.com) – Mining major BHP Billiton has thrown its weight behind the Forest Bond, designed to reduce deforestation and stimulate investment in low-carbon development.
The Forest Bond, issued by the International Finance Corporation, raised $152-million from institutional investors, and is listed on the LSE.
The bond allows investors to receive coupons in the form of carbon credits, generated from avoided deforestation, and issues under the Verified Carbon Standard, instead of cash coupons.
The bond will support a project in Kenya run under the United Nations climate change mitigation mechanism, with BHP saying on Tuesday that the company was providing a price support mechanism of $12-million to ensure the project could sell a predefined minimum quantity of carbon credits each year, until the bond matured, whether or not investors in the bond elected to receive carbon credit coupons.
“Our support of the Forest Bond is another example of the action we are taking to address climate change and work in partnership to enhance the global response,” said BHP VP sustainability and climate change Dr Fiona Wild.
“Greenhouse-gas emissions will remain part of the resources sector, even with the prioritisation of greenhouse gas emissions reductions and energy efficiency at BHP Billiton and industry-wide. While low emissions technology is becoming more effective and commercially viable, it is important to identify robust and cost-effective offsets to help meet future reduction commitments.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
