ANZ bank takes minority stake in energy transition focused advisory firm Pollination

Australian banking and financial services company ANZ will invest US$50 million for a minority equity stake in Pollination, an Australia-based investment and advisory firm focused on climate change, they said in a joint statement Feb. 16, adding that the partnership aims to drive the transition to net-zero and support biodiversity.

The partnership will focus on the transition needs of ANZ's customers globally in the areas of sustainable finance, project and export finance, carbon markets and corporate advisory, including mergers and acquisitions, the statement said.

"ANZ has a strong track record of delivering innovative sustainable finance products. With a presence in 14 markets across Asia, it has exceptional reach where investment in decarbonization and nature is both critically important and a huge opportunity," Martijn Wilder AM, Co-founding Partner with Pollination, said.

As part of the transaction, ANZ will gain a seat on Pollination's board, the statement said.

The spot price of Australia Carbon Credit Units or ACCUs was at A$51.75/mtCO2e ($37.12/mtCO2e) on Feb. 14, according to latest available data from Sydney-based environment consultancy Demand Manager. This compares to around A$16-A$17/mtCO2e at the start of 2021.

On a global scale, carbon credit prices are also surging. The nature-based carbon credit price has reached $14.80/mtCO2e, according to Platts assessment on Feb. 15, an increase of 218% from June 14, 2021, when Platts launched the assessment.