Chevron Corporation has unveiled investments in two pioneering lower carbon projects in Western Australia (WA) through its subsidiaries, Chevron Australia New Energies Pty Ltd and Chevron Australia Pty Ltd.
In a significant move towards nature-based carbon offsets in Australia, Chevron is set to fund the WA-based Carbon Sync. This initiative is a soil carbon sequestration pilot project that spans up to 80,000 hectares of WA’s agricultural region, encompassing cropping and grazing areas.
Additionally, Chevron has embarked on a collaborative multi-year research venture with Deakin University’s Blue Carbon Lab. The partnership aims to explore potential CO2 sequestration opportunities within WA’s coastal wetlands.
Barbara Harrison, Chevron New Energies Vice President of Offsets and Emerging, emphasized the company’s vision for a greener future. “We believe that the future of energy is lower carbon. Australia is not only an essential part of Chevron’s established portfolio, but we also see tremendous potential to develop businesses that help achieve our lower carbon aspirations,” she stated.
Echoing Harrison’s sentiments, Chevron Australia’s General Manager of Energy Transition, David Fallon, said, “The two projects we are part of in WA are examples of the multiple pathways on that lower carbon journey. Our collaboration with Carbon Sync is expected to provide critical insights related to soil carbon projects in a region with a large potential for scale to help meet the forecasted demand for Australian Carbon Credit Units (ACCUs). With the Blue Carbon Lab contribution, we are excited to explore the opportunities for blue carbon in WA’s saltmarsh, mangrove, and seagrass environments.”
Louise Edmonds, Founder and CEO of Carbon Sync, expressed her enthusiasm about the collaboration. “I am thrilled that a large multinational organization has recognized the potential of Carbon Sync to change the carbon equation for WA’s agricultural industry, as well as create jobs and further investment for our state. Through these pilot projects, we aim to enhance the sustainability of WA’s agricultural sector and improve biodiversity outcomes.”
Professor Peter Macreadie, at the helm of Deakin University’s Blue Carbon Lab, highlighted the significance of the research. He mentioned, “There’s been great mystery into the size of WA’s blue carbon assets and the potential for new blue carbon opportunities through the conservation and restoration of coastal wetlands. This research project seeks to address this knowledge gap.”