The Chevron Corporation – through its subsidiaries Chevron Australia New Energies and Chevron Australia – has revealed investments in two separate lower carbon projects located in Western Australia.
The investments mark Chevron’s first nature-based carbon offset project in the country, with the company having agreed to provide Carbon Sync with funding for its soil carbon sequestration pilot project which utilizes 80,000 hectares of cropping and grazing land in the region.
Additionally, Chevron has partnered with Deakin University’s Blue Carbon Lab for a multi-year project which will see the duo evaluating opportunities for CO2 sequestration in Western Australia’s coastal wetlands.
“We believe that the future of energy is lower carbon,” explained Barbara Harrison, vice president of offsets and emerging, Chevron New Energies. “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.”
“The two projects we are part of in WA are examples of the multiple pathways on that lower carbon journey,” commented David Fallon, general manager for energy transition, Chevron Australia. “Our collaboration with Carbon Sync is expected to provide critical insights related to soil carbon projects, in a region with 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.”
“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,” added Louise Edmonds, founder and CEO of Carbon Sync. “Through these pilot projects, we aim to enhance the sustainability of WA’s agricultural sector and improve biodiversity outcomes.”