HSF advised Clean Energy Finance Corporation on a 75 million Australian dollar investment in the Macquarie Pastoral Fund
The pledge, made in conjunction with the Macquarie-owned Paraway Pastoral Company (Paraway), aims to reduce methane intensity in the agricultural sector by at least 30% by 2030.
CEFC intends that Paraway, as manager of the Fund, will use CEFC’s investment to test new technologies and practices to reduce emissions, and progress will be shared with other industry stakeholders.
The HSF team consisted of partner Fiona Smedley and special counsel Yorick Ng.
Fiona Smedley said: “We are proud to continue to support CEFC in its important clean energy investment work, this time in the agricultural sector, a sector that contributes a significant proportion of Australia’s emissions. This investment adds to the growing pool of institutional investments we are seeing that are driving innovation and leadership in sustainable and energy-efficient practices.
Yorick Ng added, “Congratulations to CEFC on this important foundational investment in the Macquarie Pastoral Fund and for working with Paraway. Reducing emissions in the agriculture sector is a challenge, and we applaud CEFC’s continued leadership in this area of investment.
The Herbert Smith Freehills team has previously advised CEFC on a range of equity investments, including in a transforming agricultural platform managed by Gunn Agri Partners, Adamantem’s private equity fund, the infrastructure platform from Macquarie Infrastructure and Real Asset, Mirvac’s build-to-let club, Australian Renewables Income Fund, Morrison & Co Growth Infrastructure Fund, Investa Commercial Property Fund and Ellerston 2050 Fund.