Port of Newcastle honored at Preeminent Sustainability Awards
[By:Â Port of Newcastle]
The Port of Newcastle has been recognized among the state’s leading organizations committed to innovation and excellence in sustainability through the Banksia Foundation’s 2021 NSW Sustainability Awards.
The port’s progress on its environmental, social and governance goals was applauded by the Banksia Foundation jury which nominated the Port of Newcastle as a finalist for the Net Zero Action Award and the Small and Medium Business Transformation Award, both of the seven award categories.
Newcastle Port CEO Craig Carmody said Australia’s two oldest sustainability award nominations are a welcome recognition of the port’s sustainability journey following the launch of the first environmental, social and governance strategy of the company in 2019.
âIt is a privilege to be recognized as a finalist for the NSW Sustainability Net Zero Action Award and the Banksia Foundation’s Small and Medium Enterprise Transformation Award among organizations that, like the Port of Newcastle, are leading the way in progress towards creation of a sustainable environment. the future of the communities they support, the state and the nation.
âWe are proud of our sustainability achievements over the past 12 months despite the challenges the world faces – including achieving a GRESB ranking of 92 and ranking first in our industry in Oceania, the achieving Silver Partner status in the NSW Sustainability Advantage program, transitioning 75% of our vehicle fleet to electric vehicles; and securing a 100% renewable energy contract for 90.5% of our electricity consumption, with the rest to be fully renewable by the end of 2021, âsaid Mr. Carmody.
âThe Port of Newcastle is committed to applying the principles of sustainability in all of its operations, its internal culture and the way we engage with customers and communities. We are committed to continuous improvement in line with our environmental, social and governance strategy and carbon reduction targets and look forward to what we can achieve in 2022. â
The award nominations follow Prime Minister Scott Morrison’s recent announcement that the Port of Newcastle will join a partnership with Macquarie Green Investment Group and the Commonwealth Government’s Australian Renewable Energy Agency (ARENA) to support the development of ‘a hydrogen economy in the Hunter region. The announcement included the launch of a $ 3 million Australian feasibility study on the development of the Port of Newcastle Green Hydrogen Hub project with the support of an A $ 1.5 million grant from the ‘ARENA.
âWe are determined to diversify the port in the future, and the Port of Newcastle Green Hydrogen Hub is an important vote of confidence in our future ambitions to identify and seize the opportunities for radical change to create thousands of jobs at low carbon in a new export industry, contribute to the economy of Hunter, NSW and Australia, support local industries and customers and ensure a stronger port for the future . This project is part of our commitment to provide Hunter industries with more environmentally friendly export routes to global markets, âsaid Mr. Carmody.
The Port of Newcastle’s Environmental, Social and Governance (ESG) strategy sets out its long-term commitment to Net Zero by 2040 and also sets out its SBTi-approved medium-term goal for Scope 1 and 2 emissions.
Port of Newcastle CFO Nick Livesey said the port has extended its sustainability approach to innovative financing for the port’s planned diversification investments, which will support new industries such as green energy and future Career paths through its recently announced historical sustainability coverage following the industry’s first sustainability loan that directly links the cost of its debt to the achievement of its science-based emissions reduction goals.
“Thanks to our innovative sustainable development financing frameworks, the Port of Newcastle has established itself as a global leader in the sector by demonstrating the use of financial instruments to support credible and ESG-compliant trade diversification.”
âOur planned investment over the next five years is aimed at enabling the immediate diversification of our activities, improving our existing operations and further expanding our portfolio of 26 trades currently passing through the port. The financial arrangements we have put in place support this diversification and help us further stretch our sustainability goals with a data-driven approach to achieving them, âsaid Mr. Livesey.
Throughout its sustainable journey, the Port of Newcastle has been a key champion of ESG and sustainability in the Australian port sector. Review system (PERS).
The NSW Sustainability Awards, organized by the Banksia Foundation, seek and recognize innovation and leadership through the prism of the United Nations Sustainable Development Goals (SDGs). These global goals aim to unite businesses, governments and citizens around the world to end extreme poverty, tackle inequality and protect the planet. The prizes will be presented on Thursday, December 9, 2021 and the winners will go to the National Sustainability Awards of the Banksia Foundation.
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