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CIRRALTO SIGNS STRATEGIC PARTNERSHIP WITH AUSTRALIAN AGRI FINANCE TO GROW FARM LENDING SERVICES, page-81

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    From Spenda website: Carbon Finance – Is an advance against the farm owners assessed carbon credits that can be utilised during the period before, or between, carbon payments and will secured by the assignment of future carbon payments.
    Some background info is available on the website of Carbon Farmers of Australia. See also the article "Banks take more interest in carbon farming" on Farm Weekly. Like all security, you got to hope it is properly assessed and valued, now and over time. You will also find some articles suggesting that the costs associated with measuring and verifying carbon credits are high. Also, income streams related to carbon credits can come with long term obligations to maintain the associated projects, in parallel of the main farming activities.
    Sounds interesting to me, but I always think of lending to farmers as a lending activity that requires a high degree of expertise, which SPX lacks. And highly cyclical. It is more of a long shot, probably worth going for, rather than a revenue stream that will grow quickly over the next year. If they go too quickly though, I'd ring the alarm bell.
 
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