en.Wedoany.com Reported - National Australia Bank (NAB) has entered into a long-term agreement with an Indigenous-owned carbon farming organization, securing approximately 150,000 Australian Carbon Credit Units to cover most of its remaining operational emissions before 2031, marking the bank's single largest carbon credit purchase to date.

Announced on Wednesday, the deal is with Arnhem Land Fire Abatement Northern Territory (ALFA NT), a local non-profit organization owned by traditional owners that manages six fire management projects in Arnhem Land, Northern Territory, Australia.

The purchased credits are Australian Carbon Credit Units (ACCUs) under a government-supported program, which reduce greenhouse gas emissions and protect biodiversity by conducting planned early dry season burns to prevent more intense wildfires later in the dry season. The five-year agreement reduces NAB's reliance on the annual spot market for carbon credits, providing the bank with longer-term supply certainty as Australia's carbon market develops more active forward and options markets. The agreement was reached following the federal government's 2023 reforms to the Safeguard Mechanism and the introduction of a new savanna fire methodology in April 2026.

ALFA NT reinvests all proceeds from credit sales into land and cultural management, employing over 300 Indigenous rangers in its projects. ALFA NT Chief Commercial Officer Adrian Enright stated that every cent from selling ACCUs is reinvested into land and cultural management, training, and community priorities. Enright described the agreement as a model for a mature carbon market that combines long-term supply certainty, high-integrity credits, and measurable environmental and cultural outcomes. The partnership integrates traditional knowledge with modern fire management tools, supporting economic development in remote Indigenous communities.