Flow Power has launched its new carbon neutral strategy, which will see the company making use of large-scale generation certificates (LGC) to offset its carbon emissions.
Working in collaboration with carbon consultancy Pathzero, Flow Power calculated its carbon footprint, covering scope one through three emissions. To offset these emissions, Flow Power surrendered the equivalent tonnes of CO₂e in LGCs.
Traditional carbon offsetting programs allow organisations to compensate for their emissions by investing in projects that reduce, remove or capture emissions from the atmosphere, such as reforestation programs or avoiding deforestation. These programs also promote investment in renewable energy projects across the world however they currently do not support new projects here in Australia.
Instead, Flow Power’s strategy leverages LGCs sourced from Australian renewable projects, which are readily accountable and measurable. Flow Power said every unit of carbon that it produces is counterbalanced with direct investment in local renewable projects that are driving Australia’s energy transition.
LGCs are not currently recognised as a certified carbon offsetting method in Australia, and Flow Power said it is calling on a change to the regulatory model to encourage other businesses to adopt their innovative approach.
Flow Power COO, Byron Serjeantson, said that since the business was founded in 1994, it has never been afraid to do things differently.
“Our vision is to drive the renewable transition in Australia, and as an organisation we want to address our emissions footprint in the way we believe is best aligned with this objective – driving additional investment in renewables projects for Australia, which will reduce the emissions and cost of our energy system,” Mr Serjeanston said.
“Current forecasting shows Australia will miss our 2030 emissions and renewables targets unless we fast-track and promote capital investment in renewable energy projects. Utilising LGCs as carbon offsets could help provide the critical investment boost Australia needs.
“This alternate approach will increase investment in renewable energy projects while offering companies additional, and highly tangible, ways to offset their emissions, resulting in benefits for the environment, the economy and the cost of living.”
Smart Energy Council CEO, John Grimes, said that it’s exciting to see innovative businesses like Flow Power do things differently and ask: ‘Is there a better approach out there?’
“We applaud them for investing the time and resources to calculate their emissions and develop a new offsetting methodology that has the potential to support much-needed investment in Australian renewables to combat climate change,” Mr Grimes said.
“Flow Power’s approach could provide a catalyst for carbon reductions and enhanced capital flow at this critical time in Australia’s energy transition.”
To learn more about Flow Power’s carbon strategy visit www.flowpower.com.au/our-carbon-neutral-strategy.