An intimate event was recently held in Subiaco, featuring some of Western Australia’s most strategic investors and senior resource industry leaders.

The purpose was to come together for a robust and thought-provoking conversation about the push into the world of Environmental, Social and Corporate Governance (ESG).

Importantly, the focus was to look at how industry continues to take leadership on this front, exploring new technologies and approaches, while still maintaining a balance of delivering on core business.

And it’s the latter that was of most interest – how is industry making tangible change while also keeping a firm hand on delivering core business and conventional energy projects?

The event was organised by media and investor relations firm Spoke Corporate in partnership with Pragma Lawyers, and front and centre driving that conversation was Carnarvon Energy’s Chief Executive Officer Adrian Cook.

Adrian delivered a keynote presentation at the forum outlining the Company’s conventional oil and gas strategy, as well as its renewable fuels business, FutureEnergy Australia (FEA).

With the International Energy Agency forecasting oil demand to continue to rise in the near-term, investment in oil and gas developments, such as Carnarvon’s Dorado development offshore Western Australia, will be critical to meeting rising energy needs.

However, alternative fuels are also required to lower emissions, while still meeting the world’s energy demands.

As Adrian explained, Carnarvon launched FEA last year, in partnership with Frontier Impact Group, with the goal of building Australia’s first commercial-scale renewable diesel facility.

The initial plant being proposed near the town of Narrogin in Western Australia will produce 18 million litres per annum of renewable diesel per annum.

Renewable diesel is a drop-in replacement to fossil diesel, meaning it can deliver immediate emissions reductions, without the need to modify existing fleets or equipment.

The technology FEA would be using can also produce sustainable aviation fuel, a high demand product that will help lower emissions from the global aviation industry.

The Narrogin project will also support the development of a sustainable, circular economy, which can help regenerate WA’s Wheatbelt region and drive economic activity across the value chain.

The facility will produce 8,000 tonnes of biochar per annum, which can be used for carbon sequestration, and has numerous benefits to the agricultural sector, increasing soil fertility and productivity in marginal soils. It can also be used as a feed additive for livestock to reduce methane emissions.

The project will also produce about 6.5 million litres of wood vinegar per annum, which can be used in agriculture as a pesticide, seed germinator, growth enhancer and fungicide.

Carnarvon’s overall vision is to be involved in the development of more than 500 million litres per annum of renewable fuel production capacity by the end of the decade.

The carbon credits generated by Carnarvon’s renewables business will also allow the Company to offset emissions from its traditional oil and gas business.

Carnarvon is committed to further growing its ESG initiatives as part of its commitment to reach net zero emissions across its operations by 2050 or earlier, with the company also exploring other avenues to help further accelerate the energy transition.

Adrian closed out his presentation by noting: “There has never been a more dynamic, exciting, but risky period for energy providers and consumers.”