INPEX, ANZ and Qantas have signed a Memorandum of Understanding to explore the possibility of carbon farming and renewable biofuels projects in WA’s Wheatbelt.

The Western Australian government is currently backing several carbon farming and regenerative agriculture projects across the state, with the hopes of helping the agriculture sector adapt farming systems to an environment facing the climate crisis, while boosting the future viability of such businesses.

“We welcome this collaboration which signals another positive step forward for carbon farming in WA. We are confident this proposal will not see a loss of agricultural production and will help farmers strengthen their farming systems,” said Alannah MacTiernan, minister for regional development.

The memorandum of understanding with collaborators including companies who consume significant amounts of greenhouse gas emitting carbon, as well as banks and farmers will hopefully see support strategic agroforestry and decarbonisation in the region.

With such agroforestry and decarbonisation to utilise drought-resilient native tree crops, while integrating with existing farming systems across the Wheatbelt.

“Strategic tree planting can lead to a suite of co-benefits to improve system function and enhanced productivity on farmland. Under this initiative, we understand farmers will be able to opt to retain some carbon credits to address their own carbon footprint,” added MacTiernan.

Other such initiatives across the state currently include the $15 million Carbon Farming and Land Restoration program, the $15 million Agriculture Climate Resilience Fund and the $550,000 Southern Rangelands Revitalisation Pilot project.

This came as WA released more than three million hectares of unallocated Crown land for carbon farming ventures in December of last year,

While back in 2019, WA emerged as a leader when allowing pastoralists to earn carbon credits and at least $70 million from sequestering carbon on pastoral lands.

“It is clear that markets and financiers are increasingly requiring carbon accounting of farm produce, and projects like this can help Western Australian farmers diversify their income and build resilience into the business,” concluded MacTiernan.