Who gains from saving nature
Ledger 1 : 33 — For each dollar financing nature-based solutions in 2023, about $33 financed activities harmful to nature. (UNEP)
Cases / Carbon capture and climate intervention · Australia · 2024–2026

Santos's Moomba CCS stores 2 million tonnes and earns 1.19 million carbon credits

Short record: the main facts, with sources. A full case file has not been prepared.

Nature's voice · report
No measurement of the harm done to me here is on record.
Did nature suffer? Not measured.
Not on record
  • The record does not name which of my species, waters, soils or forests were harmed.
What the record lacks: 1 none on record · 1 insufficient · 1 not measured See the gaps

Santos's Moomba carbon capture and storage operation in South Australia stored about 2 million tonnes of CO2 in 18 months and had earned over 1.19 million Australian carbon credits (ACCUs) by September 2025. The reviewed material does not say whether the stored volume was independently verified.

What?
CO2 from gas processing is stored underground at Moomba, and Santos earns ACCU credits Santos
Where?
Moomba gas-processing site, South Australia
When?
Storage reported for 2024–2026; credits to September 2025; company statement 20 May 2026 Santos
Who?
Gained
  • Santos — earned more than 1.19 million ACCUs, Australian carbon credits issued by the state Santos
Lost
None on record
Harmed
None on record
Why?
Not stated in the sources reviewed.
How?
CO2 from gas processing injected underground; carbon credits issued under the ACCU scheme
6 of 6 questions answered from the record

What happened

The record, in order.

Santos said its Moomba operation had stored about 2 million tonnes of CO2 over 18 months and had earned more than 1.19 million ACCUs by September 2025.

Santos presented Moomba as an opportunity for Australia to become the region's carbon storage power.

    In court and with insurers

    Every proceeding and every insurer decision on record.

    Lawsuits and rulings

    No court case on record. No court has ruled on this case.

    Insurers

    No insurer decision on record.

    What we don't know

    Undisclosed, unproven, untried: recorded as data.

    Nature

    • Not measured Harm to nature: The record holds no measurement of harm to nature.

    Record

    • None on record The sources reviewed do not say whether the stored CO2 was independently verified.
    • Insufficient Reported but not verified: Santos can use the credits against its own Safeguard Mechanism obligations (interlock table note).

    Did the harm stop?

    Not stated in the sources reviewed.

    Who paid?

    Not stated in the sources reviewed.

    Sources

    Voices on record: ✓ Company or project— Government and regulators— Courts— Press and investigations— Communities and civil society— Researchers

    Company or project

    Terms used on this page

    Carbon and conservation finance

    Carbon credit
    A certificate representing one tonne of carbon dioxide (or equivalent) that a project says it reduced, avoided or removed. Buyers use credits to balance their own emissions in climate claims.
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