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CBA closes $1.7m financing deal

Gilbert + Tobin has advised the Commonwealth Bank (CBA) on its financing deal with Australian Carbon Credit Units (ACCUs).

user iconEmma Musgrave 01 December 2022 Big Law
CBA closes $1.7m financing deal
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Firms: Gilbert + Tobin (CBA); Undisclosed (ACCU)

Deal: The Commonwealth Bank (CBA) has been advised on financing the acquisition of pastoral leases under a prepayment structure involving the supply of Australian Carbon Credit Units (ACCUs) to CBA over a five-year period.

Value: $1.7 million

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Area: Banking and finance

Key players: The Gilbert + Tobin team was led by head of banking and projects partner John Schembri, special counsel Louise McCoach and head of climate change partner Ilona Millar.

The trio were supported by lawyers Tim Dobson, Clarke Heap and Isham Sanjiv.

Deal significance: According to a statement from Gilbert + Tobin, this transaction is one of the first known private ACCU finance deals in Australia and supports the development of a carbon credit supply from Forever Wild, an ecological and social enterprise operating in the domestic agriculture sector.

Commenting on the transaction, Gilbert + Tobin special counsel Louise McCoach said: “It was a pleasure to advise on this innovative ACCU financing deal which plays an integral part in CBA’s strategic priorities.

This landmark transaction paves the way for how other organisations can look to achieve a more sustainable future.

We are delighted to have the opportunity to support CBA as pioneers in the industry on this sector-first initiative.”

Emma Musgrave

Emma Musgrave

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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