According to The Australian Financial Review, ANZ Bank, Qantas and Japanese energy major Inpex are exploring carbon farming on existing farms in Western Australia’s wheat belt to produce renewable biofuels, as companies broaden efforts to reduce emissions and win from the energy transition.
The three companies unveil a memorandum of understanding to further evaluate the project, which would involve working with farmers on planting drought-resilient native biomass crops on their land.
The first planting is expected in the winter of 2023, which they then hope to harvest and process along with selected agricultural waste residues into low-carbon renewable biofuels.
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