CSIRO and Evolution partner to identify alternatives in mine water treatment using algae
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In line with the Paris Agreement, we recognise climate change is a pressing global issue requiring sustained action to ensure a clean and productive environment, a healthy and just society and a positive future for our business. We are committed to reducing operational emissions, transparently disclosing climate-related risks, and contributing to global efforts to meet the Paris Agreement goals.
Sustainability is integrated into everything. When it comes to climate and emissions, we are committed to contributing positively to local, regional and national sustainability efforts and actively managing climate-related risks and opportunities.
Core to these objectives is our Net Zero Commitment to reduce Scope 1 and 2 emissions by 30% by 2030 and reach net zero emissions by 2050, compared to an FY20 baseline.
We embed the management of physical and transition climate risk into our day-to-day operational and strategic business priorities. The material climate-related risks reasonably expected to pose medium- to long-term impacts to our business include water security, extreme weather events, energy and emissions and extreme health events. We also undertake climate scenario analysis to inform decision-making. Further information is available in our reporting suite, which is guided by our commitment to transparency and aligns with a range of Australian and international disclosure frameworks.
Find out more about our approach to climate risk and resilience, as well as how we manage energy and emissions, below. For more detail see our Sustainability Report and ESG performance data in our Document Centre.
Climate change presents social, environmental, asset, technology, infrastructure, financial, legal and reputational risks and opportunities, and has potential impacts on our business and operations, supply chain and communities.
As outlined in our Climate Risk Position Statement, we are committed to understanding and proactively managing the impact of climate-related risks and opportunities. Our robust risk management approach is informed by comprehensive and transparent engagement with stakeholders including investors, policymakers, industry associations, technical experts, peers, non-government organisations and communities.
We embed the management of physical and transition climate risk into our day-to-day operational and strategic business priorities and undertake climate scenario analysis to inform decision-making. Further information is available in our reporting suite, which is guided by our commitment to transparency and aligns with a range of Australian and international disclosure frameworks.
See further detail in our Sustainability Report available in our Document Centre.
We are focused on reducing our operational emissions to manage climate-related risks and to support our Net Zero Commitment. Partnerships across our value chain are key to identifying and implementing emissions reduction opportunities.
As Scope 2 emissions account for around 70% of our total Scope 1 and 2 emissions, our initial focus is on securing renewable energy, with a preference for forming partnerships where we are grid connected. Beyond renewables, we review operational efficiencies and technology development to support our fleet transition. Our aim is to reduce energy consumption while enhancing operational productivity.
We recognise our direct and indirect contribution to emissions through the value chain. Scope 3 emissions are actively monitored and will be disclosed following the clarification of best practice reporting expectations under the Australian Sustainability Reporting Standards.
For detail on our Scope 1 and 2 emissions, electricity consumption, and progress against our Net Zero Commitment, see our Sustainability Report in our Document Centre.
In FY21 we set a target to reduce Scope 1 and 2 emissions by 30% by 2030 and reach net zero emissions by 2050, compared to the FY20 baseline.
Key levers in our emissions reduction pathway are:
We are on track to meet our Net Zero Commitment.
See detail on our progress in our Sustainability Report in our Document Centre.
