ClimateWorks Australia and the Monash Sustainable Development Institute has launched a national tracker of emissions reduction pledges.
The new momentum tracker will mean for the first time, information on emissions reduction commitments by major Australian companies, organisations and state and local governments will be collated on one national platform.
ClimateWorks Australia Chief Executive Officer, Anna Skarbek, said the Net Zero Momentum Tracker aims to highlight the large organisations that are bringing net zero emissions plans into their business strategies across all sectors of the Australian economy.
“Many major global companies have made it part of their business strategy to shift to net zero emissions. Australia now has companies and governments doing the same but lacks an easily accessible place to see all of these.
“Currently organisations can announce their emissions reduction plans in public statements or sustainability reports or by signing up to pledge platforms such as We Mean Business or the RE100 initiative.
“The diverse ways that organisations make these announcements means that the full picture of Australian organisations’ commitments towards net zero emissions is not well understood or recognised.
“This tracker will bring together information about efforts by Australian organisations to reduce their emissions in line with the goal of net zero emissions by 2050 or earlier, as required by Australia’s full commitments under the Paris Agreement on climate change.”
Monash University has itself committed to reaching net zero emissions by 2030, supported by a shift to 100 per cent renewable energy to power all its Australian campuses.
Monash University’s Net Zero Program Director, Scott Ferraro, said there was no doubt momentum was growing for net zero emissions plans as organisations seek to manage risk and increase their competitiveness for a future low carbon world.
“Monash’s first-hand experience has shown that reducing emissions in line with the Paris Agreement can help organisations reduce costs, minimise climate risks and grasp new opportunities.
“Companies are beginning to embed climate mitigation strategies into their business model and are making this known publicly to their customers, investors and regulators.
“This Net Zero Momentum Tracker will help others see that these decisions are being made across different sectors of businesses and industry bodies and government jurisdictions.”
The online database of emissions reduction commitments from Australian organisations will be operational later this year and will be updated as more organisations make commitments. The database will also include links to major international companies’ actions on net zero emissions.
The initiative will also include regular reports on net zero emissions plans within key sectors of the economy. Business and government decision-makers and the community will be able to use the database and reports to understand Australian organisations’ commitments towards net zero emissions.