Woodside progresses $6m carbon farm

An assessment panel has approved Woodside Energy’s proposal to build a carbon farm in the Shire of Gingin, days after the oil and gas giant dealt with tensions over its climate action plan.

The Regional Development Assessment Panel unanimously approved Woodside’s $6 million plan to plant native tree species, to build a forest on an agricultural lot in Karakin, about 8.5 kilometres south east of Lancelin.

The proposed native forest would generate Australian Carbon Credit Units for Woodside, according to the DAP report.

“While there are varying ways to secure an ACCU, in this instance the native forest will essentially store and maintain carbon (sequestration) for a period of 100 years,” the report reads.

Business News reported that Woodside Energy Carbon (Services) acquired the 3,906-hectare Karakin Farm site in May 2023, with the value of its land portfolio in the area estimated at $50 million.

The proposed development would cover 3,017 hectares of land, extending over four lots on the site.

Among the native species to be planted include Marri, Coastal Blackbutt, Firewood Banksia, and Stout Paperbark.

"We’ve done a lot of these projects since 2019 across the site, about 5,000 hectares a year at the moment," Woodside Carbon land assets and business development head Gareth Perry said at the meeting.

'We work really hard to be a good neighbour and we think we sustain that across our sites to date."

DAP presiding member Tony Arias said there were concerns of bushfire risk but the applicant had approached it in a methodical way.

"It’s interesting that this panel often considers application to remove vegetation," he said.

"This is something that is seeking to, not necessarily reinstate a natural environment, but from a vegetation perspective, [achieve] a positive outcome."

Woodside held its annual general meeting last week, which was interrupted by activists and a campaign to oust chairman Richard Goyder in the lead up.

The company's climate action plan was voted down by 58.36 per cent of participating shareholders.

Premier Roger Cook slammed the protesters' actions but said the vote on the climate action plan should send Woodside a message.