The Corporate Emissions Reduction Transparency (CERT) report 2023 has been released, showing the progress toward net zero emissions, 100 per cent renewable electricity use and other climate-related commitments of 25 Australian companies who volunteered to participate.
Released by the Clean Energy Regulator (CER), Chair and Chief Executive Officer, David Parker, said the report provides a framework for companies to present their climate related commitments, progress and net emissions in one place.
“We know there is growing interest from the community, shareholders, investors, regulators, and supply chains in the progress companies are making to reduce emissions,” Mr Parker said.
The companies who participated in the 2023 CERT report represent 21 per cent of all scope one emissions reported to the CER during 2021–2022, and are from a broad cross-section of the Australian economy.
“With the Treasury consulting on mandatory climate-related financial disclosures for large companies, now is the time for companies to participate in the CERT report and improve their emissions reporting capability,” Mr Parker said.
20 of the 25 participating companies have commitments to reach net zero emissions by 2050, including six companies that are already carbon neutral. 13 others have commitments to reach 100 per cent renewable electricity use by 2030. These commitments support Australia’s goal of 82 per cent renewables by 2030 and net zero by 2050 target.
Mr Parker welcomed the continued participation of 19 companies from the pilot CERT report 2022 and said they had been instrumental in helping to evolve and simplify the report’s framework.
The CERT report 2023 shows companies are choosing to surrender international carbon units, up 65 per cent from last year, while Australian Carbon Credit Unit surrenders are down 10 per cent.
Over 1.3 million large-scale generation certificates have also been voluntarily cancelled to prove claims of renewable electricity use, up 274 per cent compared to last year.
“I expect more companies – big and small – will start to cancel renewable energy certificates as a tangible way of proving they have switched to renewable electricity,” Mr Parker said.
Companies are responsible for providing accurate data and information. The CER works closely with other Australian government regulators, particularly the Australian Securities & Investments Commission and the Australian Competition and Consumer Commission, where any concerns are raised regarding companies misreporting their green credentials.
Participation in the CERT report is voluntary and open to companies reporting above 50kt of carbon dioxide equivalent under the National Greenhouse and Energy Reporting Act 2007.
To read the report click here.
