Deal: “The transaction will see the Commonwealth Bank of Australia finance the acquisition of pastoral leases in rural Western Australia through prepaying for ACCUs, which will be delivered over the next five years,” the firm said in a statement.

“ACCUs will be generated through greenhouse gas abatement activities, which Corporate Carbon, together with Forever Wild Ltd — a national social and environmental enterprise — will undertake on the acquired land.”

Area: Projects

Value: N/A

Key players: The Piper Alderman team was led by partner Martin Lovell and associate Oliver Radan.

Deal significance: Mr Lovell said that the firm was “proud” to have worked with Corporate Carbon in “developing an innovative new financing structure which harnesses carbon credits to support biodiversity and better environmental outcomes”.

“We expect that this transaction will pave the way for other sustainable projects to be debt funded on a similar basis,” he said.

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Corporate Carbon managing director Gary Wyatt added: “Piper Alderman’s clear and concise legal advice was crucial in enabling us to complete this complex transaction.

“They were able to efficiently identify the material contractual points of difference and offer practical solutions. Their involvement allowed us to achieve the best contractual outcomes.”