Viva Energy Group Limited (the Company) has announced its commitment to reduce carbon emissions at its operations, across the medium and long term in relation to the Company’s Scope 1 and 2 emissions.
Over the medium term, the Company is targeting net zero Scope 1 and 2 emissions across Retail, Fuels and Marketing (all non-refining parts of the business) by 2030.
The Company plans to achieve these emission reduction goals by:
- Improving energy efficiency through operational energy optimisation;
- Implementing and investing in new assets and processes to improve energy efficiency at its operational sites;
- Sourcing renewable electricity for our operations through investment in renewable projects, directly purchasing renewable electricity or acquiring LGCs from renewable generation projects; and
- Offsetting residual emissions by investing in carbon off-set projects and purchasing off-sets sourced from certified and credible offset schemes.
Gas Terminal Project
For its Gas Terminal Project, the Company is targeting net zero Scope 1 and 2 emissions for the life of the project, from the construction phase through all periods of operation.
“This commitment with respect to the Gas Terminal Project reflects the Company’s approach to new projects, where a sustainability lens has been brought to all aspects of this project’s development and, where possible, carbon emissions have been designed out of the operations, and a net zero approach adopted from its commencement,” the Company said in a statement.
The Refinery is an energy intensive and trade exposed (EITE) facility.
“Compliance with ultra-low sulphur petrol specifications will add processing units and further increase energy use and emissions at the refinery, but will in turn provide wider air quality and vehicle emissions benefits. The most impactful contribution to emissions reduction the Refinery can make over time will be producing lower carbon intensive products for the market and allowing our customers to reduce their overall emissions,” the Company said.
“Today, we have taken our first of many meaningful steps to improve Geelong Refinery’s emissions performance by committing to a 10% reduction in emissions intensity by 2030. We will achieve this through a combination of energy efficiency projects and operational optimisation initiatives.”
Long term 2050 Group ambition
Over the longer term, the Company announces an ambition to reach Net Zero Scope 1 and 2 emissions across all operations by 2050.
“Refining’s role in the energy market will adapt over time and we expect this will mean repurposing of Geelong and its processing capability by 2050. Our aim is to balance our role in supporting Australia’s energy security, with our desire to progress the facility to net zero by 2050, at the latest,” the Company said.
“These commitments form an important part of Viva Energy’s longer-term sustainability and new energy goals, and demonstrate our commitment to playing a critical role in Australia’s transition to a low-carbon future.”
The Company’s Chairman Robert Hill says, “Viva Energy fully supports the objectives of the Paris Agreement. We play an important role in the energy security and infrastructure of Australia, and our announcement today shows our commitment to addressing the impacts of climate change in Australia and globally.
“The liquid fuels and lubricants we supply will continue to play a critical role as the energy system transitions to a lower-carbon future. As well as setting our own Scope 1 and 2 emission goals today, we also have a number of initiatives in the new energies sector, to supply lower-carbon fuels to the market in the future. These initiatives and our commitments to reduce our own carbon footprint, form an important part of Australia’s pathway to a lower-carbon energy system.”