July 30th, 2023Greening Australia’s record-breaking carbon project for 2023

Greening Australia and its nature-based solutions business, Canopy, have responded to rising demand for high-integrity carbon projects from corporate Australia with a reforestation carbon aggregation, which will see over 2.26 million native biodiverse plants established across 1,228 hectares in 2023 – that’s almost three times the size of Melbourne’s CBD.

The project, registered with the Clean Energy Regulator, brings together 14 landholders from across Western Australia, South Australia, New South Wales and Victoria, doubling the number of landholders engaged in our previous 2022 record-breaking aggregation.

While the wider carbon industry navigates increased public scrutiny, heavy-weight corporates are craving reliable, trusted partners to help meet their ambitious environmental commitments. The strengthening of the Safeguard Mechanism – the first successful national reform to cut Australia’s emissions in a decade – is expected to further contribute to growing demand in the carbon market, with approximately 30 percent of Australia’s total emissions falling under the scope of the revised law.

Greening Australia Acting COO and Canopy Executive Director Paul Della Libera says that while less than one percent of the carbon market is currently made up of Australian Carbon Credit Units (ACCUs) generated by native environmental plantings, this method is critical to delivering tangible biodiversity restoration outcomes alongside carbon sequestration.

“The year-on-year growth of Greening Australia and Canopy’s carbon aggregations is a testament to our position as a market leader delivering high-integrity carbon projects that unlock positive outcomes for nature at scale, while driving financial returns for local landholders and helping large businesses meet environmental commitments.

“We don’t have a moment to waste tackling the environmental challenges we collectively face. We’re committed to continuing our leading role in delivering innovative nature-based solutions that tackle climate change while simultaneously restoring Australia’s unique biodiversity,” says Mr Della Libera.