INPEX’s investments in Australia – which include the massive Ichthys LNG facilities – are the largest of their kind by any Japanese company globally.
In parallel with building trust with its stakeholders through consultation and engagement, INPEX is committed to providing benefits to the communities in which it operates and contributing to their sustainable social, economic and environmental development.
A key focus area for the company is climate change and greenhouse gas emissions management – to contribute to a lower carbon society.
INPEX recognises climate change is a critical issue – for business and for communities – and is committed to managing its greenhouse gas emissions and further reducing its carbon footprint to deliver sustainable energy solutions.
The company is aligned with the goals of the Paris Agreement, a landmark environmental accord, to tackle climate change by transitioning to a low carbon society. Towards Net Zero
INPEX recently announced that it had formulated a long-term strategy Towards a Net Zero Carbon Society by 2050. Specifically, it has set climate change response goals to achieve its own net zero carbon emissions by 2050.
The strategy is in part driven by the historic impact of the coronavirus pandemic on the global economy since last year, and the growing momentum to strengthen climate change response initiatives both in Japan and around the world.
“We recognise the global community’s concern regarding climate change,” says Bill Townsend, INPEX Vice President Corporate. “Demand for oil and gas will not disappear tomorrow, but our industry – and our company – must adapt.
“Our business development strategy aligns with the Paris Agreement and includes two climate change goals. By 2050, we aim to achieve net zero in absolute emissions. This will encompass scopes one and two – essentially our own emissions. As an interim goal, we aim to reduce our net carbon intensity by 30 percent or more by 2030.
“We will promote CO2 absorption through forest conservation – mainly through REDD+ programs in Indonesia. These forest conservation projects contribute to the conservation of biodiversity and the improvement of the livelihood of local communities, while pursuing CO2 offset measures by way of carbon credits.
“As quickly as possible, we will seek to reduce our CO2 emissions through carbon capture and storage and renewable energy initiatives.” Collaboration key to successful savanna fire management program
A $34 million Savanna Fire Management (SFM) program has made significant achievements since beginning in 2017 with four projects now generating carbon credits and a further two planned to commence in 2021.
Funded by INPEX-operated Ichthys LNG and managed by the Indigenous Land and Sea Corporation, the program consulted and engaged more than 300 Traditional Owners in the Northern Territory in the first four years to assist with governance and new project development.
Despite the covid-19 impact, the program successfully progressed two large projects – the Judbarra National Park and the Daly River/Port Keats Land Trust (Thamarrurr) – to the operating stage and achieved registration with the Clean Energy Regulator, enabling them to start earning carbon credits.
Through the SFM program, barriers that previously prevented participation in carbon projects were overcome through close liaison with project partners. Extensive consultations with Traditional Owners and Indigenous Ranger groups across the region helped the program to appropriately target funding and technical support to groups to develop new savanna fire management projects. The program successfully secured Land Use Agreements allowing project registration with the Clean Energy Regulator in 2020 meaning that groups can now earn carbon credits from their projects.
The benefits created through the SFM program include culturally appropriate employment, protection of biodiversity and cultural values, improved governance capacity in remote communities and a growing contribution to the abatement of greenhouse gases in the region.
One of the key benefits is creating employment opportunities for people from various homelands/outstations to participate in burning operations. Training people is also crucial for safe and effective operations and accredited training is provided to increase the pool of participants.
“We’re creating more jobs for other outstations, communities and getting more rangers to work on country and get out bush,” Thamarrurr ranger Uriah Crocombe says.
These new projects added another 2.4 million hectares, meaning a total of 3.6 million hectares of Indigenous land is now funded through the SFM program to improve fire management contributing to reduced carbon emissions.
The program will continue to support these and potential new projects to support long-term sustainable Indigenous enterprises with social and economic benefit for remote areas of the NT.