Mitsui to Invest in Australian Carbon Farming project services-provider, Climate Friendly

May 12, 2022

Main Contents

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has agreed to acquire a 33.7% stake in Climate Friendly Pty Ltd ("Climate Friendly"), a company that works with farmers, Traditional Custodians and conservation organisations to generate land sector carbon credits through the regeneration of native vegetation, improvement of soil health and implementation of sustainable agriculture in Australia.

Climate Friendly is one of the largest carbon farming project services-providers in Australia. It had already achieved 20 million tons of GHG reduction by 2020, and is aiming to achieve a 100 million ton cumulative GHG reduction by 2025. The land based carbon projects supported by Climate Friendly are expected to play an important role in achieving the Australian government's GHG reduction target, by absorbing and sequestering CO2 from the atmosphere, and also improving soil quality and drought resilience and preserving ecosystems.

The Australian Government launched its first carbon farming initiative in 2011 before establishing the Emissions Reduction Fund, providing a total of A$4.55 billion in financing. Demand for emission reduction credits from the voluntary private sector has been growing, and is expected to continue to grow steadily. Australia is one of the most important countries for Mitsui business, and we will proactively work to reduce the GHG footprint of our group companies as part of our decarbonisation strategy.

Mitsui has set "energy solutions" as a strategic focus area in its Medium-term Management Plan 2023. Mitsui will continue tackling climate change, a common and the most complex global challenge, by providing a variety of solutions, such as clean hydrogen, fuel ammonia, CCS/CCUS, and carbon credits.

Profile of Climate Friendly

Company Name Climate Friendly Pty Ltd
Location Sydney, New South Wales, Australia
Established November 2003
Representative Skye Glenday, Josh Harris (Co-CEOs)
Business Activities Facilitating carbon farming projects to generate land sector Australian Carbon Credit Units.

Carbon farming project land where Climate Friendly provides services.

Carbon farming project land where Climate Friendly provides services.

Signing Ceremony at Sydney

Signing Ceremony at Sydney (From the left: Mr. Uchida, GM of NexGen Energy Div., Mr. Suda, DGM of Carbon Solutions Dept. Back: (second from right) Ms. Skye Glenday, CEO of Climate Friendly, (fourth from right) Mr. Josh Harris, CEO of Climate Friendly)

Mitsui’s Materiality

“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Create an eco-friendly society”

  • Secure sustainable supply of essential products

    Secure sustainable supply of essential products

  • Enhance quality of life

    Enhance quality of life

  • Create an eco-friendly society

    Create an eco-friendly society

  • Develop talent leading to value creation

    Develop talent leading to value creation

  • Build an organization with integrity

    Build an organization with integrity


For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-5912-0321
Facsimile: +81-3-3285-9819
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