Mombak’s Amazon Reforestation Fund has sold 30% of its 10-year projected output at a price point bettered only by the EU’s emissions trading scheme.
Costa Group chairman Neil Chatfield said the deal is in the best interests of shareholders, despite Paine Schwartz having reduced its offer from A$1.6bn.
The fund received a $30m commitment from CPP Investments in August and will create high-integrity carbon credits by permanently and legally preserving all of its reforested trees in the Amazon.