Business Unit Reports People, Safety and Risk continued
CARBON AVOIDED THROUGH VECTOR EV CHARGERS
CARBON BASELINE
FY18
FY17
% CHANGE
FY17
FY18 195.64 tCO 2 e 642.29 tCO 2 e
Scope 1*
369,946 tCO 2 e
340,176 tCO 2 e
9%
Scope 2**
29,069 tCO 2 e
31,597 tCO 2
e
-8%
Scope 3***
5,866 tCO 2
e
–
–
* The majority (over 89.89%) of our scope 1 emissions relate to both the energy used to process gas at Vector’s Kapuni Gas Treatment Plant and the fugitive carbon emitted as part of the Benfield process applied at the site. The volume of gas that Vector is required to process at this site is determined by the gas field owner, who is the “miner” under the Climate Change Response Act. Vector is unable to control this in any way and is required to process the gas under the Kapuni Gas arrangements implemented by the New Zealand Government in the 1970’s when it was the Natural Gas Corporation of New Zealand. ** Our scope 1 and 2 carbon data is inclusive of the cogeneration facility at Kapuni Gas Treatment Plant, which has been apportioned 50% between the two joint venture parties, but excludes emissions from subsidiaries PowerSmart NZ Limited and E-Co Products Group Limited. ***Scope 3 emission sources include business travel, transmission and distribution loss for purchased electricity ex Auckland, and fuel consumption for our Networks Field Service Providers.
ISO
certified 14001
CASE STUDY:// TWO DEGREE ECONOMIC MODELLING During the year Vector commissioned a report on the economic impacts of a transition to a two degree world with a particular focus on the sectors of most relevance to the business. The modelling used three scenarios for how New Zealand might achieve net zero GHG emissions. These scenarios included one to achieve the target by 2050; another with the same 2050 timeframe but with any real action delayed until after 2030; and a third that sets an ambitious timeframe of 2040. The exercise has provided Vector with valuable insights into the key changes that would be required in the energy sector, including transport, for New Zealand to be able to successfully achieve net zero carbon. It has also enabled a level of optimism that the transition can be completed while continuing with modest economic growth. Vector will utilise this information in our strategic assessment of risks and opportunities that are likely to result from the transition. n
FUTURE FOCUS AREAS// Future of Work We recognise that artificial intelligence and robotics are significantly disrupting the way we work and we therefore need to identify what will add value and how we can upskill employees to ensure a fair transition into new roles. A cross functional project team is investigating opportunities associated with artificial intelligence and robotics and is collaborating with other New Zealand corporate businesses to share ideas. Circular Economy We are beginning the process of reducing materials consumption and waste to landfill by taking a circular economy approach. This will incorporate not only the materials we use directly but also consideration of products that are part of our value chain including batteries and solar panels. Safety 2 Safety 2 focuses on looking at what goes right 99% of the time and why – rather than a retrospective view once something has gone wrong. It is a new lens to safety but one that we are confident in progressing with the business. Mental Wellbeing In recognition that mental health traverses both personal and work lives we are seeing a need to provide a more formal support network for our people. An initial step on this journey will be the creation of mental health first aiders. n
SDG://
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Vector://AR 18
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