Corporate Report for the year ended 30 June 2022
Introduction and overview
Business performance
Governance and risk
Directors’ report
Remuneration report
Financial statements
Sustainability supplement
Security holder information
Progress towards 2030 interim GHG reduction targets Our business has grown significantly since 2019, but we remain on track to meet our 2030 GHG reduction target (Figure 9). The delivery of key energy-efficiency projects and increased use of renewable electricity in FY22 led to a 46% reduction in GHG emissions compared to the previous year, with FY22 Scope 1 and 2 GHG emissions 13% below 2019 levels. As of June 2022, two- thirds of our electricity needs were being sourced from renewables. This is enough renewable electricity to power 30,000 homes. By market, our electricity mix comprises: • Sydney: 80% renewable since July 2021 (excluding NorthConnex) • Brisbane: 80% renewable since January 2022 • Melbourne: CityLink 50% renewable since January 2022, anticipated to increase to 100% from January 2024 • Greater Washington Area: 0% renewable (grid only, with renewable energy options being explored) • Montreal: grid electricity comprising around 99% renewables.
Figure 9: Scope 1 and 2 GHG emissions forecast
250,000
200,000
150,000
100,000
50,000
0
FY16 FY17
FY18 FY19 FY20
FY21
FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29
FY30
Transurban Scope 1 and 2 BAU forecast
Reduction pathway SBTi target
Our renewable energy use will increase as new renewable electricity contracts mature and we transition to renewables in the US. To increase the visibility of our commitment and progress to net zero, we embraced the opportunity to volunteer for the Clean Energy Regulator’s pilot of the Corporate Emissions Reduction Transparency (CERT) reporting scheme. We provided information about progress towards our net zero commitment and science-based GHG emission reduction targets, GHG emission data (Scope 1 and 2) and renewable energy use for FY21. The Regulator released the FY21 pilot year report in July 2022 ahead of the start of the official program for FY22 reporting onwards later this year.
As part of our efforts to meet our Scope 3 reduction targets, we have introduced GHG reporting for our major suppliers. Supplier progress is monitored through their participation in CDP Supply Chain reporting, providing greater transparency and confidence that we can achieve our 2030 targets. We also continue to work with our delivery partners on major projects to reduce projects’ impact on the environment and increase their use of low-carbon construction materials. In FY22, GHG intensity across Scope 3 emissions sources continued to be a focus and supplier engagement with our CDP supply chain program reached 70%. Further supply chain engagement information can be found on page 62.
Figure 10: FY22 GHG inventory
Towards our net zero target
FY20 1 tCO 2 -e
FY21 1 tCO 2 -e
FY22 1 tCO 2 -e
Total Scope 1 & 2
136,955
196,341
106,392
Scope 1
4,213
4,598
5,046
Scope 2 (market-based)
132,742
191,743
101,346
In addition to working with our supply chain to reduce Scope 3 emissions, our next steps towards our net zero target include setting contractor targets for fuel efficiency and transitioning contractor operations, maintenance and incident response vehicles to zero-emission vehicles by 2030. We are continuing our lighting upgrade and ventilation optimisation programs and investigating renewable energy opportunities for our North American assets.
(Renewables emissions savings)
3,753
6,343
87,930
Scope 2 (location-based)
136,495 634,213 161,607 405,348 46,547 17,058
198,086 428,367 168,785 218,335 14,481 24,240
189,275 412,593 173,982 201,944 12,394 20,695 2,544 1,034 518,985
Scope 3
Purchased goods and services Capital goods (major projects) Investments (non-managed assets)
Upstream fuel and energy related activities
Waste
2,241 1,412
2,416
Business travel
109
Total Scope 1 & 2 & 3
774,383
624,708
Customer travel emissions
1,156,130 1,227,450 1,184,369
1 Transurban Group total, excluding non-managed assets
38
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