As Australia’s largest publicly traded oil and gas exploration and production company, Woodside is one of the country’s top 10 companies by market capitalisation. Based in Perth, Western Australia, Woodside operates Australia’s two largest resource projects: the North West Shelf Venture in Western Australia, which produces about 40 percent of Australia’s oil and gas, and the adjacent Pluto liquefied natural gas (LNG) project near Karratha. With these resource projects, Woodside is poised to help meet growing global demand for LNG’s clean energy, providing opportunities for international economies to transition away from fuels with higher greenhouse emissions per unit of energy.
Recognising that the right way to respond to the growing demand for cleaner energy is through an integrated, sustainable approach, Woodside relies on CO2 Australia to help balance the economic, environmental and social demands of its business, which includes leading by example and reducing its greenhouse emissions.
On behalf of Woodside, CO2 Australia has successfully delivered Australia’s largest commercial emissions offset program based on dedicated forest carbon sink plantings. The project was delivered across two Australian States, Western Australia and New South Wales, and resulted in the planting over over 26 million eucalypts across five years from 2008-2012. In Western Australia alone, a total of 17,000 ha of mallee eucalypt environmental plantings were established in heavily cleared and often degraded landscapes.
Under this $100 million contract, CO2 Australia were responsible for all aspects of design and delivery, including land acquisition, species to site matching, seedling production, planting, ongoing management, reporting and generation of Australian Carbon Credit Units under the Commonwealth’s Carbon Farming Initiative, now the Emissions Reductions Fund. CO2 Australia is contracted to manage these plantings for 50 years and we continue to monitor and measure their performance. To date, almost 300,000 tonnes of carbon abatement have been generated by the plantings.