Valkyrie property - Project Freyja (Revoked)

Valkyrie property - Project Freyja is a Human-Induced Regeneration (HIR) project located approximately 35km south of Nebo in the Isaac local government area of Central Queensland. Registered initially in June 2019, with its crediting period later varied to begin in September 2020, the project spans 1,355.82 hectares across the larger 10,000-hectare Valkyrie property. The surrounding region is predominantly utilized for extensive cattle grazing and resource extraction, with natural boundaries like the nearby Dipperu National Park. The property was specifically acquired by proponent QGC Pty Limited, a subsidiary of Shell, to serve as a major environmental and biodiversity offset for their coal seam gas operations in the Surat Basin.

Human-Induced Regeneration projects generate carbon credits by implementing new land management practices that allow native vegetation to regenerate on land where it has been suppressed for at least 10 years. For Project Freyja, this involved ceasing the mechanical or chemical destruction of regrowth and carefully managing the timing and extent of livestock grazing. These activities were designed to encourage the natural recovery of permanent native forests from in-situ seed sources, rootstock, and lignotubers.

The Nebo region typically experiences a subtropical, semi-arid climate with summer-dominant average annual rainfall of approximately 600–750mm. The local environment features deep, fertile cracking clay soils and red or brown podzolic soils that historically supported extensive Brigalow scrub and eucalypt woodlands before being widely cleared for pastoral use.

An interesting aspect of the Valkyrie property is its role as a critical habitat refuge for threatened fauna, including the Koala and Greater Glider, protecting against threats like wild dogs and habitat fragmentation. Promoted under the name "Project Freyja," it was heralded as Shell Australia's first nature-based solutions project aimed at protecting endangered native forest. Despite its high profile as a corporate carbon offset, the project was officially revoked on April 2, 2026, under section 30 of the Carbon Credits (Carbon Farming Initiative) Rule.