Latham Advises on Woodside Energy’s Acquisition of 6.6 Million Carbon Credits

Australian-based Woodside Energy has agreed to acquire a combined 6.6 million carbon credits from forestry and mangrove restoration projects in Mexico and Indonesia. The first project involves the purchase of up to 2 million credits over a 10-year period beginning from 2025 from a community-led tropical forest restoration and improved forest management project in Mexico. The company has also agreed to receive up to 4.6 million credits over a 40-year period starting from 2027 in exchange for funding a community-based, phased mangrove restoration initiative in Indonesia.

Latham & Watkins LLP advised Woodside Energy on the transaction with a deal team led by partners Michael Dreibelbis, Justin Stolte, Brian Rock, and counsel Jeff Mispagel, with associate Phil Goldberg.