Origin Energy has become the first Australian company to have science-based emissions targets recognised by the global We Mean Business initiative with a commitment to halve emission by 2032 in line with the Paris 2o degree goal.
The move is part of Origin’s pledge to lowering emissions and sees Australia’s largest energy supplier committing to a company-wide 50 per cent reduction in scope 1 and scope 2 (emissions from its generation business and other activities) and a 25 per cent reduction in scope 3 emissions, incurred in the transport of energy to end users.
The recognition is a major step in Australia’s journey to a clean energy future.
Origin is leading the way for Australia with CEO Frank Calabria saying while the targets were challenging he was confident it was the right thing to do for the planet.
“This is a major milestone for Origin. We want to be leading the transition to a cleaner and smarter energy future and we are proud to now have a tangible commitment for emissions reduction across our business,” Calabria said.
“As Australia’s leading energy company, we’re determined to help achieve the smoothest possible transition to a cleaner and smarter energy future at the lowest cost to the households and businesses that rely on the energy we produce.”
We Mean Business works with 646 companies around the globe leading them to take bold climate action. Origin is the first energy company of its type to be endorsed by the international Science Based Target initiative (SBTi) which is the only body authorised by WMB to verify targets mathematically and scientifically.
The science-based targets have been designed to provide companies with a clearly defined pathway to future-proof growth.
“We’re proud to commit to targets in line with the Paris agreement and which solidify our role in helping Australia meet its 2030 emissions reduction target,” Calabria said.
“More could and should be done and we have also stated our belief that a target of net zero emissions for the electricity sector is achievable.”