Making the transition to lower carbon energy

We support the objectives of the Paris Agreement and the policies and actions that will help Australia meet its greenhouse gas emission reduction commitments.

The traditional energy forms such as liquid fuels and lubricants we supply will continue to play a critical role and provide energy security in Australia’s economy as the transition to a lower-carbon future occurs. Our approach to the energy transition is to support our customers to reduce their greenhouse gas emissions while pursuing opportunities in emerging and transitional lower carbon energies, and commitment to reducing our own operational (Scope 1 and 2) emissions to net zero by 2050.

As part of this, we are committed to medium-term 2030 emissions reduction targets for our operational Scope 1 and 2 emissions, from a FY2019 base year:

  • climate-change-1

    Net zero across our Retail, Fuels and Marketing (all non-refining parts of the business)

  • climate-change-2

    10% reduction in emissions intensity at the Geelong Refinery

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Energy Hub

Our vision for the Geelong Energy Hub is focused on exploring opportunities in transition fuels (such as LNG), alternative fuels (such as biofuels and hydrogen), and renewable energy and emission reduction projects (such as a solar energy farm) at our Geelong Refinery.

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Climate risk and opportunities

We know that it is critical for the sustainability of our business that we understand the opportunities and risks associated with climate change, and incorporate these into our business strategy.

To help guide our approach and provide transparency to stakeholders, we have adopted the recommendations framework of the Taskforce on Climate-related Financial Disclosures (TCFD).

You can read more about our approach to climate change and making the lower carbon energy transition in our latest Sustainability Report.

Greenhouse Gas Emissions

We report annually on our greenhouse gas emissions, energy consumption and production, under the Australian Government’s National Greenhouse and Energy Reporting (NGER) scheme.

Our data is publicly available from the Clean Energy Regulator, and can also be viewed in our latest Sustainability Report.

Download our sustainability report