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
Climate change risk management
Climate change will influence our business and operations into the future. We are committed to transition our business to net zero greenhouse gas (GHG) emissions by 2050 and are implementing broader business resilience and adaptation measures across our assets and major construction and development projects.
Our Climate Change Framework (Figure 25) is a business-wide strategy that supports two priority areas: the transition to net zero, and ensuring our infrastructure and operations are resilient under potential future conditions. The Framework applies to our Australian and North American operations and responds to our strategic climate-related risk themes including four strategic climate- related threats and two strategic climate- related opportunities.
Our Climate Change Framework positions us well to respond to climate-related threats and opportunities, and we continue to evolve our understanding of the ramifications arising from climate change. FY22 has seen us advance the implementation of the Framework with significant progress achieved in our two priority areas. In FY22, 56% of our electricity needs were met from renewable energy. Since June 2022 this has increased to two-thirds as we continue our transition to renewables.
Figure 25: Our Climate Change Framework
Transition to Net Zero
Resilient infrastructure and operations
Asset and business adaptation
Customer emissions
Low-carbon supply chain
Roadside regeneration
TCFD alignment
Climate risk integration
Energy
Climate risk impact assessments Integration with financial systems, processes and reporting Ongoing review, monitoring and reporting
Low-carbon materials
Scenario analysis
Customer engagement on fuel and
Improve vegetation and biodiversity
Energy efficiency upgrades
Embed relevant climate projections and associated risks (threats and opportunities) within processes and systems
Asset-specific Climate Risk and Adaptation Management Plans including adaptation pathways
emissions reduction
within our alignments
Circular economy
Onsite renewables
Support the uptake of zero-emissions vehicles
Partnerships and engagement
Green infrastructure
Renewable energy agreements
Training and capacity building
Governance
Twice-yearly updates provided to the ARC, Transurban Board and subsidiary Boards on climate-related aspects
Committee provide additional oversight and guidance on business-wide implementation of the Framework
Climate-related risk oversight by the Transurban Board’s ARC
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