Shell Australia has announced plans to buy out Select Carbon, a specialist company that helps develop carbon farming projects throughout Australia. Financial terms were not disclosed.
This is Shell’s first acquisition globally for its Nature-Based Solutions business, which invests in forests, grasslands, wetlands and other natural ecosystems around the world and contributes to the company’s goal of being a net-zero emissions energy business by 2050.
Select Carbon has developed and manages a portfolio of more than 70 projects covering about 9 million hectares (22 million acres) across different ecosystems and agricultural uses, including in Australia’s diverse rangelands, according to Shell Australia.
“The scale of Australia’s rangelands, ecological diversity and integrity of intact primary forests make this market a natural choice for Shell’s first acquisition globally for our Nature-Based Solutions business and to further scale Shell’s investment
