Reaching net zero emissions is a core action of the Paris Agreement goal to limit global warming to well below 2 degrees Celsius. Many major global companies have incorporated this goal into their business strategies. In Australia, businesses and governments are doing the same, but there is no easily accessible place to see these commitments, making them difficult to track.
The Net Zero Momentum Tracker will collate information on emissions reduction commitments in one place, showing the continued progress of action on climate change. By demonstrating what organisations have done and how, the initiative aims to encourage more organisations to make commitments to reduce their emissions, in line with the goal of net zero emissions by 2050.
Later this year, the Net Zero Momentum Tracker will launch a free online database of emissions reduction commitments from Australian organisations, with a particular focus on net zero emissions commitments. The database will be updated over time as more organisations make commitments. The initiative will also produce regular reports to assess emissions reduction activity across key sectors of the economy.
The project will engage with leaders across business, government, and industry peak bodies; to communicate findings, understand the operational context faced by organisations, and share lessons from organisations that are leading the way in reducing emissions.
The Net Zero Momentum Tracker will not be a pledge platform, and will not seek pledges from organisations. Instead, the project aims to showcase the excellent work of existing pledge platforms and encourage more organisations to make net zero emissions pledges through these platforms or independently.
The Net Zero Momentum Tracker analysis will be undertaken by ClimateWorks Australia working within the Monash Sustainable Development Institute.
The Net Zero Momentum Tracker was launched on 5 June 2019.
The media release is available here: Download media release
Further information about the project can be found here: Download more information
Sector-wide adoption of a net zero ambition is critical to achieving the global mandate to keep well below 20C whilst striving for 1.50C. The property sector’s influence on overall emissions is extensive. ClimateWorks’ latest report shows that key players in the property sector are laying the foundations to achieving net zero emissions by 2050.
The property sector report examines Property companies listed in the ASX200 and those required to report their emissions under the National Greenhouse and Energy Reporting Act 2007 (NGER Act). It is the first in a series focusing on key sectors of the Australian economy as part of the Net Zero Momentum Tracker initiative. It is designed to bring together and evaluate climate action commitments in order to help the property sector build momentum towards net zero emissions.