Greening Australia’s 37 years of experience in landscape restoration, partnered with Woodside’s capacity and knowledge in developing projects at scale, sees the partners aiming to unlock barriers to a sustainable carbon market that will maximise benefits to the environment, communities and the economy.
As part of the agreement, the first phase will initially involve planting up to 5,000 hectares primarily in Western Australia which will sequester approximately 1 million tonnes of CO2e over 25 years. The partners will also assess the environmental and economic viability of a range of large-scale opportunities to create carbon offsets and improve biodiversity across Australia.
Greening Australia CEO, Brendan Foran, commented,
“Traditional approaches to large native tree planting projects cannot solve our great environmental challenges and it is imperative that we work with industry and others who share our vision for a sustainable carbon market and all the benefits that flow from one.”
“Greening Australia has an ambitious target to restore 330,000 hectares of the Australian landscape as part of our 2030 Vision and support the transition to a low carbon economy. Pro-active investments from large organisations like Woodside are crucial in taking us a step closer towards this goal and our mission of creating healthy and productive landscapes where people and nature thrive.”
Greening Australia believes a sustainable carbon market positions native tree planting as one of the most compelling and effective forms of carbon offsetting available to the market and requires:
As agreed with Woodside, the pilot program will formally commence in 2020, with the aim to scale up on-ground work upon the successful completion of the range of environmental and economic viability studies on the other large-scale opportunities.
To truly stop, reverse and prevent a global climate emergency and unprecedented species loss, environmental initiatives need better financial investment solutions to make a lasting difference.