We’ve already become the first Australian energy company to formally commit to halving our carbon emissions by 2032, contracted 1.1 gigawatts of newly sourced renewable power, secured additional gas for domestic customers and generated more electricity from our power stations to help stabilise the energy market and help put downward pressure on prices.
We’re committed to leading the transition to a cleaner and smarter energy system that Australians can be proud of - one that achieves the reliable and affordable energy customers expect and deserve.
This was highlighted recently when Origin became the first Australian company to receive the International Science Based Target Initiative’s (SBTI) approval for our decarbonisation target.
Our target is a 50 per cent reduction in absolute scope 1 and 2 emissions by 2032. Importantly, the independent approval from SBTI ensures our target is aligned to the 2℃ goal for the Paris Climate Agreement.
This target will see us continue to grow renewables in our portfolio and close our only coal-fired power station - Eraring - at the end of its operational life by 2032.
In February, we kicked off Australia’s first large-scale solar project and committed to buying the energy produced by Lakeland Solar & Storage in an effort to gain a better understanding of battery storage.
In March 2016, we committed to an additional 1,200 MW of large scale solar and wind energy, which is enough to power all the homes in Ballarat, Adelaide and Newcastle combined.*
By 2020, we’re targeting for renewables to make up more than 25 per cent of our generation mix - up from 10 per cent today. We’re also making sure our fleet of lower emissions peaking gas-fired generators is ready to play an increasingly important role in maintaining energy security.
Our target forms part of the climate change action framework We Mean Business, which was established to accelerate corporate action on climate.
We were the first energy company in the world to sign up to seven of the We Mean Business commitments. Here’s what we’ve committed to:
1. Report climate change information in mainstream reports. You can read our full 2017 sustainability report here
2. Undertake responsible corporate engagement in climate policy
3. Adopt a science-based emission reduction target which will see the emissions intensity of the energy we deliver through our fuel and generation portfolio reduce over time, in line with the International Energy Agency’s ‘450 Scenario’
4. Set measures to factor in a cost of carbon internally to materially affect investment decisions to drive down greenhouse gas emissions
5. Become Australia’s leading renewable and low carbon energy provider, helping our customers to procure electricity from renewable sources and procure 100 per cent of electricity from renewable sources for our office premises and, where possible, our other operations by 2050
6. Reduce short-lived climate pollutants
7. Remove commodity-driven deforestation from all supply chains
We also want to empower you, our customers, with cleaner, smarter energy solutions.
We’re taking some big measures to give you the technology to use energy more efficiently in your homes and businesses.
Last year, we established O hub, a collaborative workspace for Origin teams to work alongside tech start-ups.
Origin CEO Frank Calabria joined other industry leaders in a panel discussion about Australia’s energy transformation at the Australian Clean Energy Summit. Read more.
We’ve also launched a trial with Californian-based tech start-up Bidgely, using smart meters to show customers where energy is being used in their homes.
Alongside that, we’ve established a presence in California’s Silicon Valley to better connect Origin to the global centre of digital innovation and co-founded FreeElectrons – a global accelerator program that brings together eight forward-thinking utilities and 12 leading start-ups in the renewables, smart grids, electric vehicles and home energy management space.
Closer to home, we’re also the principal sponsor of EnergyLab, the University of Sydney’s new hub for clean energy innovation.
As one of Australia’s leading energy company, we’re committed to making energy smarter, easier, more sustainable and more affordable for customers.
*1Figure based on an average daily household consumption level of 16kWh and estimated capacity factors across all solar and wind projects.