Chevron Invests in Lower-Carbon Pilot Projects in Australia

The energy major would provide funding to Carbon Sync, which is leading a soil carbon sequestration pilot project as well as a research project with Deakin University to explore potential carbon dioxide sequestration opportunities in the region's coastal wetlands.

(Reuters) — Chevron said on Thursday it would invest in two lower-carbon pilot projects in Western Australia.

The energy major would provide funding to Carbon Sync, which is leading a soil carbon sequestration pilot project as well as a research project with Deakin University to explore potential carbon dioxide sequestration opportunities in the region's coastal wetlands.

The financial details of the investments were not disclosed.

Chevron plans to invest $10 billion in lower-carbon projects through 2028, as the industry has made such initiatives central to its net-zero strategies.