Australia’s resources sector is preparing for the global net zero transition, but action to address the most significant source of emissions falls well short of the 2050 goal: report
Resource companies are moving their operations towards net zero by 2050, but more action is needed to address downstream scope 3 emissions, according to a new report about the climate commitments of Australia’s 22 largest resource companies.
BP sets out its 2030 interim emissions reduction goals, on the path to achieving net zero by 2050 or sooner. The London-based oil and gas company is targeting ‘absolute emissions’ reductions by 2050, although some of the company’s indirect emissions are excluded from this commitment.
Lendlease Europe joins World Green Building Council’s ‘Net Zero Carbon Buildings Commitment’ on the back of a global commitment to absolute zero emissions by 2040. Lendlease, the global property company, has set a precedent for its sector, addressing all material sources of emissions throughout its operations and supply chain – including suppliers, tenants and residents.
Superannuation sector efforts to address climate change risks are accelerating in Australia, according to a new report about Australia’s 20 largest licensed funds.
Cbus announces a comprehensive plan to achieve net zero emissions for its investment portfolio by 2050. Australia’s largest superannuation fund for the building, construction and allied industries has revealed a comprehensive plan to reduce its portfolio emissions, the material emissions source for investors.
Telstra announces carbon neutral operations from 2020. In March, the telecommunications giant took a leap towards net zero through a commitment to reduce its operational emissions, with scope to address absolute emissions.
The City of Adelaide aims to be the world’s first carbon neutral city. It is partnering with local and global industry, and offering community incentives to realise this transition.
In February 2020, the Cities of Sydney and Melbourne announced their intention to bring forward their community-wide net zero emissions target by a decade to 2040.
HESTA’s net zero by 2050 target sets a new benchmark for climate action in Australia’s superannuation industry. The health and community service superannuation fund has announced it will develop an ‘ambitious’ Climate Change Transition Plan to achieve net zero across its investment portfolio.
Qantas is Australia’s largest airline by fleet size, international flights and international destinations. It typically operates around 1,500 flights using over 300 aircraft, which consume up to 14 million litres of fuel each day.
Australia Post is in the process of replacing its delivery motorbikes, vans and trucks with electric vehicles (Australia Post 2019). It is deploying electric bikes and three wheeled electric delivery vehicles (eDVs) to reduce its last-mile emissions, which are those incurred in the last stage of delivery from postal distribution hubs to the customer.
Yarra Trams is the brand name for Melbourne’s tram network. It is a franchise, currently operated by Keolis Downer, a joint venture that operates light rail and bus services in several Australian states.
A rapid reduction in transport emissions is possible with the solutions already known and poised for widespread implementation this decade, according to new research from ClimateWorks Australia.
Amazon has committed to reach ‘net zero carbon’ by 2040 (Amazon 2020b). This target encompasses emissions across the company’s entire value chain, including Amazon-operated and third-party freight, production of private-label products and customer trips to Amazon stores.
Kathmandu has over 160 stores in Australia, New Zealand and the UK, manufactures goods in 101 factories in Asia, New Zealand and Europe and sources materials from Asia, Australasia and the US.
Woolworths aims to reduce direct emissions from its operations to 60 per cent below 2015 levels by 2030 and has pledged to eventually adopt a target ‘in line with the level of carbon reduction required to limit global warming to 1.5 degrees above pre-industrial levels’ through the SBTi initiative (Woolworths Group 2019).
Major retailers in Australia wield significant economic influence. The sector is Australia’s second largest employer after healthcare, determines consumer choices and affects suppliers, producers and manufacturers across many economic sectors.
One of Australia’s largest diversified property groups, GPT owns and manages some of Australia’s most well-known retail, office and logistics properties including Melbourne Central, Sydney’s Australia Square and Brisbane’s Riverside Centre.
Among the 20 banks assessed in the Net Zero Momentum Tracker banking sector report, the largest four banks – ANZ, Commonwealth Bank, NAB and Westpac – hold over 80 per cent of total resident assets reported by Australian banking institutions and almost 90 per cent of the resident assets reported by institutions included in this study.
Local governments hold significant influence over Australia’s emissions through their connection to people, households and business. Cities account for 70 per cent of emissions globally.
Local governments can play an important role in reducing Australia’s carbon emissions. In fact, many already are. New research by ClimateWorks Australia, with the Monash Sustainable Development Institute as part of the Net Zero Momentum Tracker initiative, analyses the climate commitments and activities of 57 local government areas covering over half of the Australian population.
Monash Lens: One overarching ask for business and investors: Do you have a plan to achieve zero emissions?
An excerpt from Anna Skarbek’s piece in Monash Lens, One overarching ask for business and investors: Do you have a plan to achieve zero emissions?
Australia’s 20 largest banks are taking steps to reduce emissions from their investment and lending portfolios, but their actions are ad hoc and not yet fully aligned to the net zero goal of the Paris Climate Agreement, according to the latest Net Zero Momentum Tracker report.
Sector-wide adoption of a net zero ambition is critical to achieving the global mandate to keep temperatures well below 20C whilst striving for 1.50C.
A national tracker of emissions reduction pledges by Australian companies, governments and organisations is part of a new initiative being launched today by ClimateWorks Australia working within the Monash Sustainable Development Institute.
Monash University and ClimateWorks Australia have won a 2018 Momentum for Change Award presented by the United Nations at the Climate Week conference in New York for the Net Zero Initiative.
Australia is not yet on track to meet its emissions reduction targets under the Paris Agreement but there are many opportunities to still get there, according to new research released today.
On the back of global trends, media interest and growing consumer awareness at home, Australia’s electric vehicle industry grew slightly last year, according to a new report released today by the Electric Vehicle Council and ClimateWorks Australia.
A new report released today by United Nations Secretary-General Ban Ki-moon shows how 15 countries including Australia could together cut emissions in half while tripling economic output. The Deep Decarbonisation Pathways project involves modelling teams from all of the major emitters including Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Japan, Mexico, Russia, South Africa, South Korea, the UK, and the USA.
A new project to develop a pathway for Australia to move to a low carbon economy by 2050 while building a prosperous nation was launched today.
Australia has made significant progress towards reducing greenhouse gas emissions and building a low-carbon economy, according to new research released today. The ClimateWorks Australia report, Tracking Progress Towards a Low Carbon Economy, found an increase in activity to improve energy efficiency and reduce greenhouse gas emissions in the last decade across all sectors of the economy studied.