APA Group has released its first Climate Report, indicating significant progress in achieving its interim targets and goals for the Climate Transition Plan 2030.
APA CEO and Managing Director Adam Watson stated that the Climate Report showcases APA’s commitment to Australia’s energy transition, highlighting progress in its Climate Transition Plan and enhanced disclosure and transparency in climate-related information reporting.
“In FY23, we delivered a 6.7 per cent net reduction in gas infrastructure emissions and a 5.3 per cent reduction in power generation infrastructure emissions intensity, compared to our FY21 base year, representing solid progress towards our 2030 interim targets and goals. We have also established a new target to reduce operational methane emissions by at least 30 per cent by 2030, compared with FY21,” Watson reported.
“In FY23 we also embedded the necessary governance and reporting processes to support our Climate Transition Plan, including incorporating an internal carbon abatement price, which is applied to emissions reduction and avoidance initiatives as well as stay-in-business projects,” he continued.
He added that APA is well-positioned to support Australia’s energy transition, aiming to be the preferred partner in delivering infrastructure solutions.
According to the company, the Climate Report aligns with the Financial Stability Board’s Taskforce on Climate-related Financial Disclosures (TCFD) and documents APA’s progress towards its 2022 Climate Transition Plan.
The report highlights the progress made towards APA’s net zero pathway over the past year, including:
- A 6.7% net reduction in gas infrastructure emissions compared to APA’s base year in FY21.
- A 5.3% reduction in the intensity of power generation emissions compared to APA’s FY21 base year.
- The commissioning of the Dugald River Solar Farm, Australia’s largest remote-grid solar farm (outside of the NEM and WEM), contributes to APA’s goal of lowering the operational emissions intensity of its power generation infrastructure.
- Completion of a nationwide compressor electrification study, the start of a business case for electrifying the Wallumbilla compressor, and efficiency optimisation activities for select other compressors.
- Acquiring 100% renewable electricity from FY23.
- Investing in APA’s net zero emissions reduction efforts with a $150 million to $170 million commitment over FY23-30.
- Utilising APA Offset Criteria where offsets are required. APA’s strategy is to acquire a varied portfolio of offsets and to engage in projects that provide broader social and ecological advantages (co-benefits).
- Completing a physical climate risk assessment of all majority-owned assets.
- Setting an objective of reducing operational methane emissions by at least 30% by FY30, compared to APA’s base year of FY21.
- Using cutting-edge aerial methane detection technology on three major pipelines.
- Launching a strategy and leasing electric vehicles for the company’s goal of achieving a 100% zero direct emissions vehicle fleet by 2030.
- Improving the APA’s Scope 3 emissions inventory and defining priority emission reduction paths in accordance with the commitment to implement a Scope 3 reduction goal by 2025.
APA has also developed FY24 focus areas that are in line with its Climate Transition Plan. APA will progress electrification opportunities for gas infrastructure, advance the pipeline of renewable projects in the Pilbara and other regions, improve emissions data, progress the next round of transition risk and opportunity assessments, and continue developing a Scope 3 strategy, among other initiatives.
