As part of the agreement, the first phase will involve planting trees in up to 5000 hectares primarily in Western Australia. More broadly speaking, the partners will assess the environmental and economic viability of a range of large scale opportunities to create carbon offsets and improve biodiversity across Australia.
According to the statement, Woodside and Greening Australia will work together on the research and development of innovative approaches to landscape restoration at a scale that is necessary to realise the shared objective of sustainability within the carbon industry.
Woodside CEO, Peter Coleman, said: “At Woodside we are working to reduce our emissions, investing in innovation and technology and building an offset portfolio which will also deliver value to regional Australia.
“Greening Australia and Woodside share aligned values and aspirations to identify opportunities on a sustainable basis to sequester carbon in the Australian landscape.”
Greening Australia CEO, Brendan Foran, added: “Landscape scale native tree planting projects are a proven way to achieve carbon sequestration, and our biodiversity focused and, science-led approach delivers a range of other positive benefits. We welcome the collaboration with Woodside for its potential to maximise nature-based solutions for the environment, community and economy as part of developing a sustainable carbon market.
“Building strong partnerships is vital to our work in tackling Australia’s biggest environmental challenges. We have a track record of working successfully with companies who like us, are solution-focused and ready to embrace new ways of working to create a sustainable future. Pro-active commitments from large organisations like Woodside are crucial for taking us a step closer towards a lower-carbon economy and achieving our vision of healthy and productive landscapes where people and nature thrive.”