INPEX, ANZ and Qantas team on carbon farming and biofuels project in Western Australia

In Australia, INPEX, ANZ and Qantas have entered a memorandum of understanding to progress the evaluation of a project which brings together carbon farming and renewable biofuels in the Wheatbelt region of Western Australia.

The project provides an opportunity to support reforestation and decarbonization using drought-resilient native tree crops, integrated with existing farming systems.

Having completed an extensive initial assessment of the carbon farming project, the parties will undertake a more detailed feasibility study into the harvesting and processing of native biomass crops and selected agricultural waste residues, to produce low-carbon renewable biofuels.

Under the MoU, the first planting of native trees is expected to take place in the winter of 2023, subject to the completion a comprehensive engagement process with stakeholders.

The unique project model will seek collaboration between the sponsors, landowners and rural communities as a priority. The project will further diversify the regional agribusiness economy, while supporting Wheatbelt farming communities with local employment and regional infrastructure investment.

The three MoU sponsors bring resources, complex project development experience and a long-term commitment to the Wheatbelt collaboration.