A huge step has been taken in the Tiwi community's journey towards self-determination and local enterprise development with the transition of a critical carbon enterprise.

The Tiwi Islands Fire and Carbon Project had been supported by the Indigenous Land and Sea Corporation's Savanna Fire Management Program, funded by the INPEX-led Ichthys joint venture as part of a broader $91 million voluntary offsets package with the Northern Territory government.

The success of the project, managed by Tiwi Resources Pty Ltd, has enabled the transition away from external funding to a fully independent Indigenous-owned carbon enterprise.

Registered in 2016, the project helps reduce emissions by implementing strategic, early dry season fires to prevent the destructive impacts of late dry season wildfires laden with greenhouse gases, a methodology that blends thousands of years of Indigenous knowledge and practice with western science.

The project not only reduced greenhouse gases but also increased employment opportunities for Indigenous rangers, protected Country through fire management and preserved important Indigenous cultural sites.

The Tiwi Fire and Carbon Project spans approximately 8,000 square kilometres of Aboriginal freehold land on Melville and Bathurst islands, which have been continuously inhabited by the Tiwi people for millennia and are renowned for their rich cultural and biological diversity.

Since its official registration with the Australian Government's Clean Energy Regulator as an Emissions Avoidance project in 2016, the initiative has generated 159,666 Australian Carbon Credit Units, valued at approximately $6.3m and the foundation on which the carbon enterprise has been built.

More than 100 Traditional Owners and their families, alongside Tiwi Rangers, have actively been involved in annual fire planning and operations during the project's lifetime.

Additionally, 90 individuals have received accredited training to safely participate in fire management activities.

Tiwi Resources Pty Ltd was established by the Tiwi Land Council in 1991 and is owned by the eight Tiwi landowning groups, who help the Tiwi people harness economic opportunities from their land to enhance community development.

The organisation manages the Tiwi Fire and Carbon Project, the Tiwi Ranger Program, and the Tiwi Islands Indigenous Protected Area on behalf of the Tiwi Land Council.

A Tiwi Resources Pty Ltd spokesperson said the transition to independent management was a monumental step for the Tiwi people.

"It reflects our dedication to self-determination and our commitment to managing our land in a way that honours our culture and preserves our environment," they said.

"We are proud to lead this project, which not only helps us maintain our Traditional practices but also supports our community economically."

ILSC group CEO, Joe Morrison, said the project exemplified its mission to support First Nations people achieve self-determination.

"This has been no small feat ... Tiwi Resources Pty Ltd is the first organisation that participates in the SFM program to transition to be independently managed," he said.

"This is what self-determination looks like at the fire management level.

"This project demonstrates how traditional practices can effectively tackle modern environmental challenges and stands as a testament to the resilience and vision of the Tiwi people."

INPEX general manager NT Richard Finch said the project helped Tiwi people strengthen their ongoing connection to their Country, while using Traditional knowledge and techniques to manage it.

"INPEX-led Ichthys joint venture is proud to support the SFM program providing funding for coordination, training, start-up and early operational costs for new projects on Aboriginal lands in the NT," he said.

"The Tiwi Project is a great example of its success."

The transition of the project was celebrated recently by Traditional Owners, project partners and supporters at a community event in Wurrumiyanga on Bathurst Island.

The ILSC played a pivotal role in supporting the Tiwi Fire and Carbon Project through a $3.6 million investment from its Northern Territory SFM program, funding that was instrumental in the project's growth and success.