santos climate change report
Santos's 2022 Climate Change Report has the stated aim of reducing emissions. Consequently, some big companies such as Eni, Total and BP have adopted absolute measures to reduce their Scope 3 emissions. * A commitment to only selling our products to customers from countries that have a net-zero commitment or that are signatories to the Paris Agreement The case is being closely watched as a major test of greenwashing -- dubious claims made by companies or institutions over their planned climate actions or environmental responsibility. Santos said in a statement to the ASX it had published its first climate change report, "consistent with the guidelines of the G20 Taskforce on Climate-related Financial Disclosures (TCFD) in . Dr Laura Schuijers, a senior research fellow with the University of Melbourne, said the direct challenge to Santos makes it one to watch following a string of recent climate change related litigations. You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan,and submit your feedback using our Accessibility webform. Eni, Total and BP have adopted absolute measures to reduce their Scope 3 emissions. PDF Climate Change Report - Santos A person reading the Climate Change Report would have trouble finding this number as it's buried in a table on page 54 of the report. The new Barossa gas project will increase emissions, not decrease them. Join us and your talent, skills and ideas will have a direct impact on results as we thrive and improve together. Companies like Santos, which are publicly listed, subject to ESG scrutiny by their investors and which report transparently on carbon emissions and their climate transition plans, are best placed to supply critical fuels such as oil and gas more sustainably, striving for lower emissions intensity and better environmental outcomes. Santoss 2022 Climate Change Report makes many claims about reducing emissions, yet its emissions rose by 53% in 2020-21. ), Stephen Takacsy's Top Picks: June 28, 2023. He has appeared as an expert witness before a number of government enquiries into energy issues. * A Climate Transition Action Plan, including phased, value-accretive, Paris-aligned capital investment Acquisitions are a conscious decision of the board and management to allocate more capital to emissions intensive gas and liquefied natural gas (LNG). In 2009, Santos put the project on hold but by 2018 it was carrying out engineering studies, modelling and looking for potential sites for CO2 injection. Climate Change Report 2023 28th Feb 2023 jump to downloads Santos has today released its Climate Change Report 2023. Santos is spending between US$1.15 billion and US$1.3 billion on major growth projects in 2022 comprising mostly oil and gas expansions. Adelaide-based Santos has pledged to reduce scope 1 and 2 pollution by 30% by 2030, and to zero out those emissions by 2040, according to a March climate change report. In step with the goals of the Paris Agreement on climate change and aligned with international reporting standards, the 2022 Climate Change Report affirms that Santos is well placed to manage the risks of climate change, continue to drive sustainable shareholder returns from long-life, low-cost natural gas assets and seize the opportunities associated with the global transition to provide cleaner energy and clean fuels over coming decades, said Santos. It is vitally important that new supply investment happens in a sustainable way. Climate Change Adaptation Planning for Santos, Brazil i Climate Change Adaptation Planning in Latin American and Caribbean Cities A report submitted by ICF GHK in association with King's College London and Grupo Laera Job Number : J40252837 Cover photo: East Santos as shown from Monte Serrat, October 2012. Big oil and gas companies are in the spotlight at the moment, Dr Schuijers said. The first project registered for the governments CCS carbon credits program is also claimed to be one of the worlds biggest. Santos today released its 2020 Climate Change Report. Acquisitions are a conscious decision of the board and management to allocate more capital to emissions intensive gas and liquefied natural gas (LNG). Santos has today released its 2022 Climate Change Report which sets out our climate transition strategy and action plan to become a net-zero emissions 1 energy and fuels business by 2040. The Climate Change Report features the following milestones for Santos journey to becoming Net Zero: In step with the goals of the Paris Agreement on climate change and aligned with international reporting standards, the 2022 Climate Change Report affirms that Santos is well placed to manage the risks of climate change, continue to drive sustainable shareholder returns from long-life, low-cost natural gas assets and seize the opportunities associated with the global transition to provide cleaner energy and clean fuels over coming decades. Downloads. Carbon capture has proven to be technically difficult to implement, saving only fractions of the emissions initially promised. For context, 1.7m tonnes of CO2 is about 0.35% of Australias current annual emissions of 494.2m tonnes. Santos Sustainability Report 2007 . Details that are misleading could leave investors vulnerable to major losses and potentially unfairly skew the market away from companies that are acting responsibly, she said. March 16 (Reuters) - Australian gas producer Santos Ltd STO.AX said on Tuesday it would let shareholders cast a non-binding advisory vote on its climate change report at its annual general meeting next year. The latest 2023 Climate Change Report outlines Santos climate transition strategy and action plan as we work to become a net-zero emissions energy and fuels business by 2040, in step with the goal of the UN Paris Agreement on climate change. Santos Ltd on LinkedIn: Climate change | Santos A track record of action on climate change, Achieved our 2025 emission reduction targets, Moomba Carbon Capture and Storage project 40% complete, Over $125 million invested on Climate Transition Action Plan initiatives, Construction of Direct Air Capture unit commenced in preparation for trials at Moomba in 2023. Bruce Robertson has been an investment analyst, fund manager and professional investor for over 36 years. Santos has said in the future it could store CO2 from other sources and third parties. Royal Dutch Shell Plc was ordered by a Dutch court last year to slash emissions more than twice as fast as originally planned. Santos promises a bright future with blue hydrogen (produced from natural gas using carbon capture and storage), neglecting to mention that at current gas prices blue hydrogen is wholly uneconomic and its production results in higher emissions than just burning the gas. The information you requested is not available at this time, please check back again soon. ExxonMobil sold the CO2 it captured to oil and gas companies to get more oil out of the ground thereby increasing oil and gas production, not reducing emissions, and Gorgon underperformed its targets for the first five years by more than 50% and is now facing payments of up to hundreds of millions of dollars in carbon credits to make up for the shortfall. Funding of high emitting projects like Barossa is not assured anymore. Key projects leverage Santos competitive and natural advantages, providing the foundation for Santos tosustainably deliver a lower carbon future underpinned byvalue generation and shareholder returns. People dont want to invest in companies that are potentially seen to be a liability.. IEEFA | Institute for Energy Economics and Financial Analysis Santos was asked by shareholders last month to publish yearly climate reports and annually disclose how its capital expenditure would be managed in a way that was consistent with the Paris Agreement. March 16 (Reuters) - Australian gas producer Santos Ltd STO.AX said on Tuesday it would let shareholders cast a non-binding advisory vote on its climate change report at its annual general meeting . Electricity price rises hitting consumers key to focus on renewables, storage and system efficiency, Billions in oil and gas investments undermine Macquarie Group's climate commitment, Amandine Denis-Ryan, Saurabh Trivedi, Ungewisse und zgerliche Dekarbonisierungsstrategie der STEAG, STEAGs uncertain and slow decarbonisation strategy, Asia-Pacific lags global oil and gas industry in shift from carbon. We pursue our objectives and targets with reference to the UN Sustainable Development Goals, in particular Goal 7: Affordable and Clean Energy and Goal 13: Climate Action. Purchasing its way out of emissions reduction is not a completely credible way forward for Santos. There is no reason to suggest that this report will contain any new information, nor does the . At the 2022 Annual General Meeting, Santos held its first advisory vote on climate change (Say on Climate). Can Moomba live up to the hype? Santos' $220m carbon capture and As Pleasants is mothballed, red flags for coal are flying, INSTITUTE FOR ENERGY ECONOMICS AND FINANCIAL ANALYSIS. Climate change | Santos We are also committed to engaging our shareholders and other stakeholders to understand their perspectives and ensure that we take them into consideration. Accurate information about the steps companies plan to take to curb emissions is crucial, Zoe Bush, a senior solicitor at the Environmental Defenders Office, which is acting for the ACCR, said in the statement. The Climate Change Report features the following milestones for Santos journey to becoming Net Zero: * New 2030 targets of a 30% reduction in absolute emissions1, a 40% reduction in emissions intensity 1 and a Scope 3 target to reduce customer emissions by 1.5 million tonnes of CO2e per annum SHOW MORE As we continue to evolve our business to lead through the energy transition, we are committed to providing shareholders with transparent information about our strategy, climate transition initiatives, emissions, and performance on an annual basis. In early 2021, the government installed several fossil fuel industry leaders and supporters to the panel that would decide if CCS should be added to the ERF. Santos said it will continue to publish an annual Climate Change Report including our progress towards our targets and action plan. Santoss 2022 Climate Change Report has the stated aim of reducing emissions. Some of Santoss emission increases came with acquisitions or mergers in recent years. Santoss stated rapidly increasing emissions is sobering, particularly when you consider the systemic under-reporting of emissions globally by the oil and gas industry. Santos has a target to cut these emissions by 26% by 2030 and to reach net zero by 2040, but this aim excludes emissions from burning the fossil fuels the company sells to customers. Blue hydrogen is not emissions friendly, producing more emissions than just burning the gas, according to some recent scientific studies. PDF IEEFA | Institute for Energy Economics and Financial Analysis Santos, whose parents were subsistence farmers in Portugal, supported lifting some environmental regulations on American farmers. Companies like Santos, which are publicly listed, subject to ESG scrutiny by their investors and which report transparently on carbon emissions and their climate transition plans, are best placed to supply critical fuels such as oil and gas more sustainably, striving for lower emissions intensity and better environmental outcomes. At least some of the numbers within Santoss 2022 Climate Change Report are simply not a reliable indication of the true position. Both companies have said the project will help them cut their own emissions. Do Not Sell My Personal Information (CA Residents Only).
Buffalo State University Undergraduate Tuition And Fees,
Caddo Parish Substitute Teacher Pay Schedule,
Student Union Bowling,
Articles S
santos climate change report
