close
close

Apre-salomemanzo

Breaking: Beyond Headlines!

Li Ka-shing Enterprises strikes deal to store 1 million tonnes of carbon dioxide in Australia
aecifo

Li Ka-shing Enterprises strikes deal to store 1 million tonnes of carbon dioxide in Australia

Companies under the billionaire’s umbrella Li Ka-shing has agreed to acquire land use rights to agricultural properties in Australia, which are three times the size of Hong Kong, with a plan to store a million tonnes of carbon dioxide to offset their ecological footprint.
CK Assets Holdings And CK Hutchison Holdings are jointly entering the regenerative agriculture sector through CK Life Sciences, the companies announced Wednesday. CK Life Sciences is part of CK Hutchison.

“As one of the first players in this new industry, (the group has acquired) leases and pastoral rights (on) more than 350,000 hectares of agricultural land, approximately 3.5 times the total area of ​​Hong Kong , aimed at carbon sequestration in Australia,” said Kam Hing Lam, Deputy Managing Director of CK Asset and CK Hutchison and Chairman of CK Life Sciences.

Regenerative agriculture, according to the Rodale Institute organic agriculture researcher, is “a holistic approach to agriculture that encourages continuous innovation and improvement in environmental, social and economic measures.” One of his areas of interest is biosequestration, which captures produced carbon and stores it in a pool, helping to limit climate change. This carbon sequestration is at the center of the CK Group’s regenerative agriculture project in Australia.

“We hope that through these regenerative agriculture programs we will make our contribution to reducing carbon emissions,” Kam said. In the future, more regenerative agriculture projects will be pursued, he added.

Australia delivers high-quality sequestration projects, operates an established regulatory system and has a growing market for carbon credits, the group said in a statement.