FY18 Sustainability Report Transurban 31
Energy and climate change
Climate change management
Responding to the TCFD recommendations
The impacts of climate change are intensified through human actions. We accept and support the Intergovernmental Panel on Climate Change position on climate futures and projections and are working towards addressing the United Nations Sustainable Development Goal 13: “Take urgent action to combat climate change and its impacts”. We also support the implementation of the recommendations of the Task Force on Climate Related Financial Disclosures (TCFD) and have begun activities to address the recommendations. Our approach In 2012, we published a Climate Change Strategy and set an internal agenda that made climate-related impacts a priority for the business. We manage climate risks, including both threats and opportunities, via our Enterprise Risk Management Framework and have metrics in place to monitor and track our progress, including a science-based greenhouse gas emissions reduction target to reduce Scope 1 and Scope 2 emissions by 52 per cent by 2030, compared to 2016 levels. During the coming years, we will continue to take action against climate change, by reducing our ongoing emissions and managing impacts through the design and construction of major projects. We are also actioning the TCFD’s recommendations and will be making appropriate changes to our current approach to climate change.
In response to the TCFD recommendations, we have kicked off a project to improve our approach to climate impact management and disclosures. During FY18, we ran workshops with our various asset teams with the goal of taking a "fresh look" at climate-related impacts across our portfolio. A range of potential physical and transitional risks were identified, including: • workforce wellbeing during heat and weather events • changing driver behaviour and traffic flow in response to weather, policy changes and shifts in technology • changing energy markets and pressure on electricity grids. In FY19 we will consider the identified impacts under various future climate scenarios and re-assess our risks before refreshing our Climate Change Strategy. We will start to include climate related financial disclosures in corporate financial reporting from FY20.
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