Port of Newcastle's commitment to sustainability reaches new levels
The Port has been commended by the NSW Department of Planning, Industry and Environment’s leading sustainability initiative, Sustainability Advantage.
Port of Newcastle has been awarded Silver Partner status in the Sustainability Advantage program, recognising the Port’s significant sustainability achievements since the launch of its Environment Social and Governance Strategy (ESG) in 2019.
Port of Newcastle is Australia’s deepwater global gateway, the largest on the nation’s East Coast. With trade worth about $26 billion to the national economy each year, the port currently handles 4,400 ship movements and 164 million tonnes of cargo annually.
Port of Newcastle CEO Craig Carmody welcomed the Silver Partner status announcement and said the Port’s ESG Strategy is critical to its ability to create a safe, sustainable and environmentally responsible Port for future generations.
“Over the past two years we have made significant progress towards achieving our ESG Strategy commitments through key initiatives – including the transition of 75% of our vehicle fleet to electric vehicles; and securing a 100% renewable energy contract for 90.5% of our electricity usage, the remainder to be fully renewable by end of 2021. To date, we have reduced 35% of scope one and two emissions directly generated by Port of Newcastle," Mr Carmody said.
Sustainability Advantage Director Mick O’Flynn said Port of Newcastle has made remarkable progress in their sustainability journey since joining the program in 2019.
Port of Newcastle Senior Manager ESG Jackie Spiteri said through the Sustainability Advantage program the Port has been able to align its ESG and diversification strategies with the principles of the United Nations Sustainable Development Goals.
“Port of Newcastle’s ESG Strategy lays out our commitment to Net Zero by 2040 and Science Based Target initiative of 30% reduction greenhouse gas in line with below 2-degree trajectories.”
This recognition follows the Port of Newcastle securing an industry first Sustainability Linked Loan in April which directly links the cost of its debt to achieving its science-based emission reduction targets.
To read more about the Sustainability Advantage Recognition Scheme, go here.