Australia’s Largest Carbon Estate – Woodside

Australia’s Largest Carbon Estate – Woodside

Australia’s Largest Carbon Estate – Woodside

In 2008, Woodside Petroleum engaged CO2 Australia to deliver Australia’s biggest commercial emissions offset program based on dedicated carbon sink tree plantings.

This groundbreaking initiative pre-dated the Clean Energy Regulator and was the largest planting project of its kind ever undertaken within Australia. The project was a $100 million contract in which we delivered 20,000 hectares of tree plantings across Western Australia and New South Wales.

We act as the Australian Carbon Credit Unit (ACCU) Scheme agent to Woodside and have successfully registered four ACCU Scheme projects in relation to this program. As agent, we manage all aspects of ACCU production over the 30-year lifetime of these carbon assets, and provide a range of advisory services to Woodside, including around ACCU delivery scheduling and delivery risk mitigation. CO2 Australia is contracted to manage these plantings for 50 years and we continue to monitor and measure their performance. This collaboration includes Indigenous employment opportunities for the tree measurement program, land management and landholder relationship management at the location of the tree plantings.

Client
Woodside Petroleum

Location
Regional WA and NSW

Dates
2008 – 2058

Industry
Resources

Services
Land acquisition and management, planting, tree monitoring, ACCU Scheme agent, reporting

Key benefits

Over 20,000 ha of tree plantings across WA and NSW

Successful registration of four ACCU Scheme projects for this program

Indigenous stakeholder employment and benefits

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Wilga Park Project – LRF/Accounting For Nature®

Wilga Park Project – LRF/Accounting For Nature®

Wilga Park Project – LRF/Accounting For Nature®

The Restoring Box-Gum Grassy Woodland for Threatened Species of the Nandewar Bioregion (Wilga Park) Project is a 25-year, $1.96 million collaboration between the Queensland Government and CO2 Australia to deliver approximately 110 ha of degraded land restored to a natural functioning ecosystem; providing habitat for threatened species, landscape connectivity and climate resilience.

Revegetation areas will re-establish vegetation communities consistent with White Box – Yellow Box – Blakely’s Red Gum Grassy Woodland and Derived Native Grassland; a critically endangered Threatened Ecological Community under the Environment Protection and Biodiversity Conservation Act 1999 (Cth; EPBC Act).

Importantly, the Environmental Account area will contribute to filling in previously cleared areas associated with more productive lowland soils; connecting with extensive areas of upland remnant vegetation communities adjacent the project area. Ongoing quarterly biodiversity surveys undertaken on the property since 2017 by CO2 Australia ecologists have confirmed the presence of a number of threatened species listed under the Nature Conservation Act 1992 (Qld) and/or the EPBC Act, including squatter pigeon, painted honeyeater, hooded robin, brown treecreeper, diamond firetail, southern whiteface and Crane’s macrozamia. There are also confirmed recent records of other threatened species on the property, including the spot-tailed quoll.

The goal of the Environmental Account is to monitor and track improvement in biodiversity co-benefits associated with the restoration project through the calculation of Native Vegetation Econd®. Ongoing monitoring of the Account will be undertaken to help inform management decisions, including Econd® surveys by CO2 Australia ecologists in accordance with the accredited CO2 Australia Native Vegetation Condition Monitoring Method.  Other activities include monitoring and control of weeds, and the assessment of fire breaks and fuel loads to reduced likelihood of wildfire events impacting on the success of the planting sites and surrounding intact remnant vegetation. Further opportunities to improve biodiversity co-benefits of the project will continue to be explored for the life of the project, based on the outcomes of Econd® assessments.

Client
Accounting for Nature®, BirdLife Australia, Queensland Land Restoration Fund

Location
Southern Queensland

Dates
2017 – present

Industry
Government, conservation

Services
Revegetation, environmental accounting, fauna surveys and monitoring

Key benefits

Restoration of a critically endangered ecological community

Improving habitat for threatened species, landscape connectivity and climate resilience

Leading innovation and progress in environmental accounting

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Wivenhoe environmental account: certified!

Wivenhoe environmental account: certified!

We at CO2 Australia are incredibly proud to have Australia’s first ever environmental account, certified by Accounting for Nature Ltd!

The third-party certification underpinning our Lake Wivenhoe revegetation project is recognised as applying the most scientifically credible and trusted environmental accounting standards in the world. Today marks an exciting new chapter in Australia, as environmental accounting drives better investment, policy and management decisions in natural capital.

CO2 Australia’s project involved the planting of more than 150,000 trees across seven sites adjacent to Lake Wivenhoe in south-east Queensland. The planting sites, which were initially identified by the World Wide Fund for Nature (WWF-Australia), are within an important koala habitat corridor in south-east Queensland. At least 90% of the trees planted will be species that provide habitat for the koala. This will increase the amount and quality of habitat for the koala in the corridor and provide connectivity between existing areas of habitat. The project will also reduce the amount of sediment runoff entering Lake Wivenhoe, thereby improving water quality in south-east Queensland’s largest water storage.

CO2 Australia applied an Accounting for Nature® Accredited Method to monitor and track improvement in biodiversity co-benefits associated with the project through the calculation of Native Vegetation Econds®. The Accredited Method applied was developed and trialled by CO2 Australia over 18 months, and following certification by the Accounting for Nature® Standards and Accreditation Committee, was one of the first certified national native vegetation condition assessment methodologies. To gain certification, CO2 Australia undertook a rigorous third-party verification process to ensure its project complied with the Accounting for Nature® Framework – this project is now formally recognised as the first environmental account in Australia, applying the most scientifically credible and trusted environmental accounting standard in the world.