CARBON NEUTRAL, 22 July 2021: Australian property company, Goodman Group has had its global operations certified carbon neutral four years ahead of schedule.
The company, which was publicly listed on the ASX in 1995 before expanding into 13 other countries, cut emissions across its corporate activities and landlord controlled areas through better energy efficiency and expansion of rooftop solar installations.
It offset remaining emissions through the purchase of carbon credits, primarily stemming from Indigenous projects in the Northern Territory.
“Around the world, we have made progressive choices and changes in our strategy and operations to achieve this net zero status ahead of our 2025 target,” Goodman Group chief executive Greg Goodman said.
Operations in Europe and New Zealand were the first to achieve net zero status and in Australia the company now purchases renewable energy via the grid through the government’s GreenPower scheme.
As well as reducing emissions in its own operations, the company is also looking to support and influence long term sustainable solutions for its customers and investors. “Globally, the property sector has a huge and vital role to play in sustainability,” Goodman said, “from the new estates we develop, through to the impact of assisting our customers across our portfolio achieve greener outcomes within their own business
GAS TRANSITION, 22 July 2021: The Victorian government’s infrastructure advisers are in synch with the clear direction the world needs to go in, if its interim report flagging scenarios for Victoria to get off gas is anything to go by.
Environment Victoria, which we quoted last week in our piece on the Gas Substitution Roadmap for the state was positive about the report and encouraged the government to go further. Why not mandate that all new buildings be all electric?
Given our mega event and ebook last year, Flick the Switch, we agree. The industry is working hard on transition but being stymied by the inevitable backlash. Hopefully, this won’t become as vicious as that of the coal industry, happy to burn the rest of us for the sake of its hip pockets a few high paying jobs in North Queensland.
Key paragraphs from the executive summary of the infrastructure advisers’ report are a good sign EV said:
“While the Morrison government has doubled down on gas infrastructure, this report to the Victorian government is focused on reducing gas use to meet climate targets, and doesn’t see much of a long-term future for gas.”
And: “Each of the scenarios we considered suggest that Victoria’s reliance on natural gas will decline significantly in the years to 2050 in order to achieve net zero. Further expansion of natural gas infrastructure increases the risk of some assets becoming unused or stranded. This could end up costing consumers more money as infrastructure owners attempt to recover the cost of their investment more quickly.”
Rai Miralles, climate and energy analyst for the group said, “While the Morrison government has been doubling-down on gas infrastructure, Victoria is putting some serious effort into exploring how to get off gas to cut emissions to zero by 2050.”
Go Daniel Andrews!
WELLNESS: 20 JULY 2021 – According to Australia’s answer to Elon Musk, Atlassian’s Mike Cannon-Brookes, it’s fine these days for your kids to invade your work calls, perhaps in a similar way that work now invades our private lives.
Cannon-Brookes made this call during a media interview to discuss his company’s latest workers survey, undertaken by PwC.
Key findings were that mental health had risen to the top of the charters for workers, above career objectives and that compatible values were important in a boss.
The survey of 1200 workers found:
- 74 per cent of employees agree businesses should be just as concerned with their social impact as their financial results, up from 69 per cent last year
- 69 per cent would consider turning down a job promotion in order to preserve their mental health
- 37 per cent, up by 6 per cent on last year, would quit their jobs if an employer acted in a way that didn’t align with their values
- 42 per cent would consider changing jobs to get more access to remote work
- 80 per cent of Gen Y employees agreed it is important for businesses to speak up or act on societal issues their employees care about.
The survey found a workforce now more concerned with wellness than “work-grind” and shift following the pandemic from a “live to work” to a “work to live” mindset.
Interestingly, “more than a third (37 per cent) look to their employers as the most important provider of mental health support, and following a difficult year for many, one in four (26 per cent) reported experiencing mental health issues and distress over the past 12 months.
Around 25 per cent said they did not receive adequate support from their employers during the pandemic.
Philanthropy nearly doubles; ACT in sustainability offers
Interesting to see that climate change is not only attracting big money through the capital markets but also free money, given generously through donations.
According to a new report from Groundswell Giving and the Australian Environmental Grantmakers Network there’s been a surge of support for climate change advocacy organisations which have seen their revenue nearly doubled in 2020 compared to the previous year.
Top beneficiaries are World Wide Fund for Nature with $80.4 million, up from $31.4m the previous year; the Sunrise Project with $28.1m, up from $10m; and Greenpeace Australia with $21.6m, up from $18m.
Groundswell Giving Co-Founder Anna Rose who cut her teeth with the Australian Youth Climate Coalition, said people were now recognising the urgency and importance of funding climate advocacy.
Ione McLean, Australian Environmental Grantmakers Network’s acting chief executive said, “Increasing concern about climate change, and the fundamental impact it will have on our lives, is driving a profound shift in philanthropy.”
There’d be a lot of people around the country who read longingly about the largesse of the German government to in supporting its net zero and energy efficiency ambitions. Including up to $40,000 it offers for each and every household doing an upgrade, renovation or whatever opportunity exists to retrofit insulation and other good sense elements that reduce the need for more power stations…
See our article, Pure poetry”: Australia and Germany open door for major energy efficiency collaboration
As Covid locks down vast swathes of the country, again, just on winter when the heating bills are likely to sting the most, it’s good to hear the ACT government that has released the guidelines for the $150m Sustainable Household Scheme, which will provide zero-interest loans for energy-efficient upgrades.
This means loans of between $2000 to $15,000 for eligible households that can be repaid over the next 10 years, without fees. It’s not a grant, but it’s a start.
Battery storage to lead renewables investment boom
Despite the federal government dragging its feet, Australia could be headed for a major surge in renewable energy investment with battery storage taking centre stage, Michael Pascoe wrote in the New Daily this week.
According to Pascoe, “individuals, corporations, market forces and state government policies are leading where the federal government doesn’t go.”
An industry research report conducted by Macromonitor has shown energy storage will lead the second renewables investment boom in five years.
“We are on the cusp of the next surge, expected to reach $34 billion in 2022-23,” report author, Macromonitor economist Natalie Senga said.
“Construction of battery storage facilities will be particularly strong over the next two years, rising from $230 million in 2020-21 to just under $2 billion in 2022-23.”
EnergyLab’s second Scaleup Program to include nine of the world’s best late-stage energy startups
Nine of the world’s best late-stage energy startups will participate in EnergyLab’s second Scaleup Program, created in collaboration with utilities giants, TransGrid and Endeavour Energy.
The nine companies will be given the unique opportunity to collaborate with Australia and New Zealand’s most innovative utilities investors and founders, helping to unlock their next wave of growth.
To select the participating startups, TransGrid and Endeavour Energy were consulted to identify their priority areas and recruit businesses from across the world that could help them unlock new opportunities to speed the transition to a low carbon future.
The nine companies taking part are:
Aperio Systems, Inc. (USA, Israel) – Aperio’s Industrial Data Integrity software automatically validates operational data at scale to improve data accuracy, allowing for better operational and business decisions based on real-time, trusted, reliable data.
Camus Energy (USA) – Camus Energy provides cloud-scale grid management software as a service for utilities and energy providers to enable the transition to a zero-carbon future.
Electron (UK) – Electron enables network utilities to launch and operate local energy markets to optimise the combined use of network capacity and renewable generation.
Neara (Australia) – Neara creates engineering-grade digital twins of critical infrastructure, bringing organisations closer to their assets, environment, and business.
Overstory (Netherlands) – Real-time vegetation intelligence, at scale.
Proxxi (Canada) – Wearable technology and data to protect workers from electrical injury before they come in contact.
Shifted Energy (USA) – Shifted Energy develops and deploys industry leading distributed energy resource aggregation software and IoT-connected load controls to help utilities create and rapidly scale demand side management programs.
V-Labs (Switzerland) – V-Labs provides an innovative augmented reality solution for AR-glasses that can visualize, modify and acquire geospatial data with cm accuracy. In combination with their feature for step-by-step work instructions, V-Labs has developed a powerful tool for surveyors, engineers and contractors to increase their efficiency, verify engineering plans and avoid errors during construction.
Zaphiro Technologies (Switzerland) – Zaphiro helps power utilities to increase the resiliency and reliability of their power grids in order to prepare them for the upcoming clean energy transition.
ACCR slams Woodside emissions targets
The Australasian Centre for Corporate Responsibility (ACCR) has hit out at natural resources giant Woodside for emissions targets associated with its planned Pluto LNG expansion.
“Woodside’s claims that it is reducing carbon emissions, when in fact it is actually doubling its emissions at the Pluto LNG facility, is a feat of mental gymnastics that only Woodside could muster,” ACCR director of climate and environment Dan Gocher said.
The company revealed plans to double operational emissions associated with the Pluto project from 1.8 million tonnes CO2e each year, to 3.6 million tonnes CO2e in 2026.
“Woodside’s targets do not address the much larger issue of Scope 3 emissions, ignoring the demands of half of its shareholders to take responsibility for the emissions from the gas it sells.”
ACCR estimates that Scope 3 emissions will increase from 13.9 million tonnes to 29 million tonnes in 2026.
This week the WA government imposed conditions on the multi-billion-dollar expansion, requiring it to go net zero by 2050.
“While Woodside has committed to net zero emissions by 2050, its 2030 targets are pathetic, and it will only reach them through buying land-based offsets and limited use of solar power,” Gocher said.
“As demonstrated by the IPCC, Carbon Tracker and now the IEA Net Zero 2050 Scenario, we simply cannot afford any new oil and gas projects if we are to return to a safe climate.”
EU signals levy on embodied carbon
The European Union intends to place a levy on the embodied carbon in materials produced in countries with lower environmental standards, in what would be a world first move, Bloomberg has reported.
Affecting steel, cement, aluminum, fertiliser and electricity, the levies will reportedly be based on carbon costs that already affect domestic producers.
The tariffs are part of broader measures due to be announced on 14 July aimed at bringing the EU in line with stricter emissions-reduction targets for 2030 to ultimately make Europe the world’s first climate-neutral continent by 2050.
Monash tech uses artificial intelligence to make construction sites safer
A team of engineers from the Monash University’s Department of Civil Engineering have developed a new system they say has the capacity to improve safety and operational outcomes on construction sites.
The program works by processing millions of images of the sites including heavy machinery such as cranes, scissor lifts, bulldozers and dump trucks to create datasets for artificial intelligence to analyse.
For instance, before using an excavator on a wet day, workers can identify all the safety features of this equipment within a digitised version of the working environment, including rain, clouds and reduced light and visibility.
With an Australian patent pending, the group say their system removes the need for cameras to be placed on construction machinery, which has time, cost and privacy implications.
“ Heavy construction equipment, vehicles and workers are often required to work closely due to spatial limitations and tight schedules, which often leads to suboptimal performance both in terms of safety and productivity,” said Dr Mehrdad Arashpour, project leader and head of construction engineering and management at Monash.
“Our method randomises various critical features of the scene, such as equipment pose and texture, scene texture and lighting, camera location and field of view, and adds other elements to the scene such as simulated dust and occluding objects.”
The Commons lands B Corp Certification
Coworking space operators, The Commons, have received B Corp Certification for the company’s above average sustainable and ethical practices.
The Commons was launched in 2015 by co-founders Cliff Ho and Tom Ye and currently caters for 2800 members with six locations in Sydney and Melbourne, which have been certified carbon neutral since 2019.
Other key factors helping the company achieve its new rating were eliminating single-use plastics from its locations, hiring a leadership team which is 70 percent female and encouraging alternative modes of transportation.
Calls for greater oversight of ESG investing
So-called ESG investing is in fact ripe for greenwashing, Stoic Venture Capital Partner Geoff Waring has warned.
Dr Waring said that investors had become more ESG-aware in recent years but that fund managers should be subject to more rigid oversight to ensure accuracy in their disclosures.
“Many investors are concerned about the hazy reporting of fund managers when it comes to their ESG investments,” Dr Waring said.
“There is a lack of consistency and regulation in how funds report ESG investments and how ESG principles are integrated into their investment decisions and strategy and the impact this has on their returns.”
New survey probes Aussie sustainability attitudes
A new survey conducted by consultancy firm, Faster Horses has delved into the sustainability attitudes of Australians, revealing that just 66 per cent would like to see less reliance on fossil fuels as sources of electricity.
The older generations actually came out on top in terms of taking action with 82 per cent of over 55 year olds cutting down on their electricity and water use compared with 62 per cent of 18-34 year olds.
Older Australians were also more likely to compost household waste, with per cent of over 55s saving their scraps compared with versus 39 per cent of 18-34 years.
On a more optimistic note, 81 per cent of all adults separate recycling waste while 76 per cent were taking active steps to reduce consumption of single use plastics.
Iron Man joins growing green investment trend
More and more capital is pouring into the sustainability sector, with Iron Man himself, Robert Downey Junior joining the trend.
Earlier this year the Avengers star founded his own investment firm called, FootPrint Coalition Ventures focussing on “high-growth, sustainability-focused companies.”
Many believe the sector has reached a tipping point whereby formerly sceptical investors are suddenly paying attention and more than willing to bring their cheque books with them.
Climate focused investment firm Congruent recently closed its second fund at $US175 million, with a total $US300 million under management.
Managing partner and co-founder Abe Yokell explained there had been a massive perception shift as to the financial viability of sustainable ventures in just the past decade.
“If you brought up the word cleantech to any institutional investor allocating to venture ten years ago, they would do their best to avoid the meeting, but now, there’s a fundamental belief there will be significant financial returns investing broadly in climate tech over time,” Yokell said.
The Australian Renewable Energy Agency (ARENA) said on Friday it will invest $11.3 million into Alcoa to “demonstrate technology that can electrify the production of steam in its alumina refining process using renewable energy”.
Let’s hope. As the media release said, “Australia is the world’s largest exporter of bauxite and one of the largest exporters of alumina accounting for 15 per cent of global alumina refining capacity” and “alumina refining is an energy intensive process that in 2019 accounted for over 14 million tonnes of carbon dioxide in Australia, which represents approximately 24 per cent of Australia’s scope 1 manufacturing emissions.”
Several of Australia’s biggest brands including Coles and Woolworths have signed a pact to radically reduce the amount of plastic waste from Australia, New Zealand and the Pacific ending up in landfill.
Signatories to the highly anticipated ANZPAC Plastics Pact include the major supermarkets as well as Nestle, Coca-Cola, the Australian Beverages Council, the Australian Food and Grocery Council and Planet Ark.
They have pledged to work towards meeting four key targets by 2025:
- Eliminate unnecessary and problematic plastic packaging through redesign, innovation and alternative delivery models.
- Plastic packaging is 100 per cent reusable, recyclable or compostable
- Increase the collection and recycling of plastic packaging by 25 per cent
- Achieve an average of 25 per cent recycled content in plastic packaging across the region.
ANZPAC joins the Ellen MacArthur Foundation’s global Plastics Pact Network and represents the complete plastics supply chain, from retailers and packaging manufacturers to resource recovery leaders and policy makers.
“To tackle plastic waste effectively we need to find solutions that aren’t constrained by national borders or old ways of thinking,” chief executive of the Australian Packaging Covenant Organisation Brooke Donnelly said.
“Through the Plastics Pact model, we will bring together the complete plastic supply chain across the entire Oceania region.”
Canberra’s richest man backs major cattle grazing, carbon farming plan
Canberra’s richest man, Terry Snow has backed plans by Packhorse Pastoral Company to create a two million-hectare cattle grazing and carbon sequestration portfolio.
PPC was established by funds management veteran Tim Samway and founder of labour hire company AWX Group Tom Strachan, and is seeking to raise $1.5 billion over five years to fund the project.
The company plans to purchase up to 10 cattle grazing properties that they will restore and lease out to beef producers for feed purposes.
The restoration of these properties will return carbon to the soil, providing the capacity
for PPC to sell carbon credit offsets at scale.
Mr Samway told The Australian Financial Review a two million hectare portfolio of restored Queensland cattle stations could generate 2.7 million carbon credits annually.
AGL launches legal action against Greenpeace
AGL has launched legal action against Greenpeace Australia Pacific, over a campaign that alleged the energy giant was Australia’s biggest corporate climate polluter.
The campaign, AGL: Australia’s Greatest Liability, accused the company of formulating a green image when in fact 85 per cent of its energy was produced by coal.
Senior Greenpeace campaigner, Glenn Walker, said his organisation would meet AGL’s legal challenge and was ready for a “David and Goliath battle”.
“By throwing legal roadblocks in our path, AGL is trying to sink our campaign exposing the company as Australia’s biggest climate polluter,” Mr Walker said.
“AGL likes to slap a wind turbine on their ads to hide their dirty coal pollution, and now they’re trying to slap a lawsuit on us to keep us quiet.”
City of Sydney targets net zero by 2035
The City of Sydney has brought forward its plan to reach net zero carbon emissions by five years to 2035, in a move to help avoid “catastrophic climate change.”
“Overwhelming climate research tells us we cannot afford to take our time reducing carbon emissions in Australia – emissions need to plummet now,” Lord Mayor Clover Moore said.
To cut energy emissions, the city council will encourage businesses, residents and other organisations to switch to GreenPower, to increase the amount of renewable energy in the power grid, as well as supporting the development of more energy efficient buildings.
While the council does not itself control public transport services it will also encourage more people to take that option as well as choosing to walk or cycle, as well as supporting businesses shift to electric vehicles.
Waste reduction will also be a focus with an aim to divert 90 per cent of residential waste away from landfill by 2030. Diverting food scraps from landfill can significantly impact emissions, which is why the council is already is running food scrap recycling pilots which it intends to extend to more households.
In brief: Rebecca Huntley, Aware Super, Renew, Macquarie Group
COVID-19 an opportunity to shape better Australia
A new report headed by renowned social researcher Dr Rebecca Huntley has reinforced that a return to pre-pandemic normal would be a major wasted opportunity for Australia in terms of climate, social and economic outcomes.
“I wanted to show that despite COVID-19 there’s this momentum from the public, from business and from government to act on climate,” Dr Huntley said.
Commissioned by Aware Super, the report pointed to evidence that strengthening Australia’s climate targets and policies to net zero by 2050 could create $63 billion in new investment opportunities.
It also highlighted figures showing with the right policy measures, 76,000 jobs could be created around large-scale renewable energy projects in just the next three years.
“For such a long time there’s been this kind of idea that we have to choose between acting on climate and building a strong economy and creating jobs,” Dr Huntley said.
“And in fact all of the economic modelling and all of the expert opinion in the report shows that’s not the case.”
Electric appliances cheaper than gas
For homes in WA, going all electric may actually be cheaper than gas, according to a report from industry veterans, Renew.
Based on modelling for homes in Perth and Albany, the study compared appliance options for heating, hot water and cooking.
It concluded that for both new and existing homes, the most economic options were reverse cycle air conditioners, heat pump hot water systems and induction cooktops.
Renew policy and research manager Dean Lombard said that converting all appliances to electric and disconnecting from gas could save homes $2400 over ten years.
For new homes, installing electric appliances and adding a rooftop solar system could save between $7500 and $10500 over ten years.
The report recommended that when an old gas appliance needs replacing, choose an efficient electric option, and that all new homes are built to be all-electric. It also called for assistance for disadvantaged consumers to replace old appliances.
Macquarie marks record profit with sustainability pledge
Investment behemoth Macquarie has marked a record $3.02 billion profit with a pledge to achieve net zero operational emissions by 2025.
The company said it will also align its financing activity with the global goal of net zero emissions by 2050.
As part of the commitment, Macquarie will set science-based emissions targets for its financing activities, and work with clients to identify emission reduction opportunities.
Macquarie said it would work with oil and gas companies in its portfolio to “deliver a managed transition to decarbonise and reduce the emissions intensity of their activities.”
It will also seek to invest further in renewable energy and climate mitigation solutions including zero emissions transport, hydrogen, carbon sequestration, nature-based solutions, and climate resilient infrastructure.
Victorian government outlines emissions reduction targets
The Victorian government has backed up its 2050 net zero targets with a strategy and interim targets.
It’s aiming to reduce emissions by 28-33 per cent by 2025 and 45-50 per cent by 2030.
How to deal with our waste and who should pay – From The Fifth Estate
The strategy includes a commitment to power all government buildings and infrastructure with 100 per cent renewable electricity by 2025, including schools, hospitals, police stations and metro trains.
The strategy also includes reducing emissions in transport, including a $3000 subsidy for buying EVs, and a carbon farming program.
ALDI Australia commits to zero waste
ALDI Australia is pursuing zero waste to landfill by 2025.
The ambitious target is backed up with strategies such as doubling food rescued for animal feed that is no longer fit for human consumption, selling imperfect fruit and veg and trialing in-store recycling services in which common materials including coffee capsules and soft plastics can be recycled
The Materials & Embodied Carbon Leaders’ Alliance goes live
The Materials & Embodied Carbon Leaders’ Alliance (MECLA) group was officially launched last month. The group is a collaborative effort made up of businesses involved in the use and manufacture of building materials with the mandate to reduce the embodied carbon in building materials.
The steel, cement and aluminium industries alone produce about 7-9 per cent of annual global greenhouse emissions each.
AMP signs PPA on office portfolio
AMP Capital has signed a seven-year renewable Power Purchase Agreement (PPA) with Diamond Energy, linked to solar farms in central NSW.
The financial services giant will procure and retire renewable energy certificates that match 100 per cent of its Wholesale Office Fund’s base building electricity consumption.
The contract is to purchase approximately 25 GWh (giga-watt-hours) of electricity per year, equivalent to the entire output of two solar farms.
According to Head of Sustainability, for AMP Capital’s Real Estate team, Chris Nunn, the cost of electricity under the new deal is approximately 5 per cent lower than what the fund was previously paying.
AMP has a Zero Net Carbon target for its entire managed real estate portfolio by 2030.