MEDIA RELEASE
Austral Fisheries becomes first company to purchase Canopy Blue’s Kelp Reforestation Credits,
offsetting carbon emissions under Climate Active program.
Perth, Western Australia – March 14, 2023 – Austral Fisheries (Austral) has become the first company to purchase Canopy Blue’s Kelp Reforestation Credits. This move enables Austral, one of Australia’s largest integrated commercial fishing companies and the world’s first carbon neutral seafood business since 2016, to offset a corresponding amount of its emissions under Climate Active, the Australian government’s carbon neutrality program, whilst also supporting an innovative Australian-based Kelp Restoration site.
Canopy Blue’s first Kelp Reforestation site is in Western Australia and is a ground-breaking initiative aimed at restoring 97,438 hectares of kelp forest that was devastated by a 2011 El Niño event.
Canopy Blue has partnered with The University of Western Australia (UWA) and its world-class marine scientists, led by Professor Thomas Wernberg. The restoration of these kelp forests is critical to the health of the local marine ecosystem and has positive benefits for the wider environment, including carbon sequestration, improved water quality, and increased biodiversity. The project also has the potential to unlock Kelp restoration globally, as a nature-based solution to climate change.
Canopy Blue is an industry led initiative, led by Grey Innovation, and supported by corporate partners matched with private investment. “Canopy Blue will be the masters of scale when it comes to growing seaweed in the ocean”, states Jefferson Harcourt, Grey Innovation Group Chairman. “We are bringing best practices from the construction sector and large scale project management to build the infrastructure required to provide bulk quantities of seaweed for fuel and plastic replacement, and to regenerate lost kelp forests at hyperscale. The carbon markets are an important source of funding for us, and we are delighted to have Austral Fisheries as our first customer.”
“Austral Fisheries has always been committed to sustainable fishing practices and supporting innovations that help to minimise our impact on the environment,” said David Carter, CEO of Austral Fisheries. “By supporting the Kelp Reforestation Project, we are not only offsetting our carbon emissions but also helping to restore a vital marine ecosystem that has suffered greatly in recent years.”
“By purchasing Canopy Blue’s Kelp Reforestation Credits, Austral Fisheries is again leading the way in demonstrating its commitment to sustainability, whilst supporting a project with the potential to unlock Kelp reforestation as a nature based solution to climate change, and have a huge impact on the health of our oceans globally” said Jon-paul Cox, CEO of Canopy Blue. “Kelp forests cover a third of the world’s coastlines and support hundreds of millions of people, but they are disappearing at an unprecedented rate. We are really proud to have a company as committed to restoring the oceans as Austral Fisheries are on board as our first purchaser.”
The Kelp Reforestation Project is a prime example of how businesses can play a vital role in protecting the environment and supporting sustainable development. Canopy Blue’s Kelp Reforestation Credits provide a simple and effective way for companies to offset their carbon emissions while supporting positive environmental outcomes.
Canopy Blue will be auctioning off the remaining kelp reforestation credits from its exclusive first release, with details to be announced shortly. Contact Canopy Blue for early access to the information on the auction and to join the bidding at info@canopyblue.co
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Media Contacts:
Jon-Paul Cox, CEO Canopy Blue
info@canopyblue.co
ADDITIONAL INFORMATION
Austral Fisheries
Austral Fisheries is Australia’s leading integrated commercial seafood business with a reputation for providing quality, sustainably caught seafood products to customers around the world for over 50 years.
The company’s operations span three wild-catch fisheries – from the sub-Antarctic, where it catches Patagonian toothfish and mackerel icefish, to the tropics of the Northern Fin Fish and Northern Prawn Fisheries, where demersal tropical snapper and various prawn species are caught respectively.
Austral has taken decisive action over many decades to embed sustainability at its core. The Commonwealth-managed fisheries Austral operates in are all independently certified as sustainable and well-managed by the Marine Stewardship Council, and in 2016 Austral became the first carbon neutral certified seafood business in the world, doing so under the Australian Government’s ‘Climate Active’ Carbon Neutral Program.
Canopy Blue
Canopy Blue is pioneering hyperscale offshore seaweed cultivation to sequester CO2, restore the oceans, regenerate the planet and deliver a carbon neutral replacement for fossil fuels.
Canopy Blue have partnered with UWA to upscale restoration via direct investment and through the creation and sale of Kelp Reforestation Credits.
The end goal is to unlock Kelp Reforestation globally as a nature based solution to climate change and bio-diversity loss, restore the millions of hectares of lost kelp forests globally, to increase CO2 drawdown and mitigate climate change while supporting biodiversity and food security.