The voluntary Corporate Emissions Reduction Transparency (CERT) report 2023 has been released. It shows the progress toward net zero emissions, 100% renewable electricity use and other climate related commitments of 25 large Australian companies.
The Clean Energy Regulator (CER) Chair and CEO Mr David Parker AM 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.’
Together, the companies who participated in this year’s CERT report represent 21% of all scope 1 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,’ said Mr Parker.
Twenty of the 25 participating companies have commitments to reach net zero emissions by 2050, including 6 companies that are already carbon neutral. Thirteen others have commitments to reach 100% renewable electricity use by 2030. These commitments support Australia’s goal of 82% 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% from last year, while Australian carbon credit unit (ACCU) surrenders are down 10%.
Over 1.3 million large-scale generation certificates have also been voluntarily cancelled to prove claims of renewable electricity use, up 274% 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 (ASIC) and the Australian Competition and Consumer Commission (ACCC), where any concerns are raised regarding companies misreporting their green credentials.
Participation in the CERT report is voluntary and open to companies reporting above 50 kilotonnes of carbon dioxide equivalent under the National Greenhouse and Energy Reporting Act 2007.
