Mungalla Carbon is a 25 year, $3.74 million collaboration between the Queensland Government and CO2 Australia Limited to improve biodiversity levels, build greater connectivity between remnant native vegetation, improve water quality entering the local waterways and reaching the Great Barrier Reef from Mungalla Station, and develop the skills and employment of people from the local community.

The Mungalla property is located approximately 13 km ESE of Ingham, north Queensland. The property is located in the Herbert subregion of the Wet Tropics IBRA region of northern Queensland, and is bounded to the east by coastal Melaleuca and eucalypt woodland on the edge of Halifax Bay in the Coral Sea. Melaleuca and mangrove forest extends to the south, and to the west of the environmental planting project area, the landscape is dominated by extensive cropping of sugar cane within the Herbert River floodplain. The project area adjoins the Halifax Bay Wetlands National Park, with largely contiguous coastal wetland and wooded habitat stretching for more than 20 km to the south. The account area is wholly located within a State Significant Biodiversity Corridor.

Queensland Government fauna database records indicate the confirmed presence of a number of threatened species within 15 km of the project, including the northern population of the masked owl (Tyto novaehollandiae kimberli), red goshawk (Erythrotriorchis radiatus), and the eastern curlew (Numenius madagascariensis) with other species such as the eastern osprey (Pandion cristatus) known to occupy coastal woodlands in Halifax Bay.

The goal of the account is to monitor and track improvement in biodiversity co-benefits associated with this environmental planting project through the calculation of Native Vegetation Econd®. Ongoing monitoring of the project will be undertaken to help inform management decisions, including Econd® surveys by CO2 Australia ecologists in accordance with the accredited CO2 Australia Native Vegetation Condition Monitoring Method, monitoring and control of weeds. Further opportunities to improve biodiversity co-benefits of the project will continue to be explored for the life of the project, based on the outcomes of Econd® assessments.