Frasers Property bought carbon credits from controversial Zimbabwean forest project

FRASERS Property is among Singapore-listed businesses affected by the fallout of a renowned Zimbabwean forest-conservation carbon-crediting project that has drawn flak for allegedly blowing up numbers related to its impact on halting deforestation.

The real estate group’s Australian unit had used the credits from the now-controversial Kariba project towards an initiative that allows homebuyers at its Minnippi Quarter development in Brisbane, Queensland, to offset the carbon emissions associated with the materials and construction of their homes.

The development, which has since been completed, comprises 172 terrace homes and 20 land lots.