Baker McKenzie advised the Aboriginal Carbon Fund on its establishment of Australia's first private carbon trading fund, the Reducing Carbon Building Communities Fund (RCBC Fund). The RCBC Fund connects corporations, businesses and institutions that are carbon neutral or are offsetting their climate impacts with Australian Carbon Credit Units that have certified environmental, social and cultural values.
The Baker McKenzie team was co-led by Martijn Wilder AM, head of the Global Environmental Markets and Climate Change practice, and Bill Fuggle, head of the Financial Services and Funds practice. Bill commented: "We are pleased to support the Aboriginal Carbon Fund to establish Australia's first private carbon trading fund, which will provide an innovative and cost-effective way to invest in rural farming economies, support Indigenous communities and tackle climate change. It’s a privilege to help make a difference in relation to climate change and indigenous communities through this project".
Martijn added: “This model is unique and is hoped will revolutionise Australian corporate support for carbon farming in Australia. There is significant potential for this model or parts of this model to be embraced by Indigenous communities in other countries.”
Bill also commented that he was proud of the Baker McKenzie team. "The combination of our world best Environmental Markets and Financial Services teams allows us to provide state of the art solutions for our clients".
Special counsels Ilona Millar and Alan Darwin, associate Sophie Whitehead, and graduate Jennie Bian also acted on this matter.