Combating climate change requires a global effort to transition to a net zero carbon economy, with many governments around the world committing to reach that milestone by 2050.
A key challenge is maintaining reliable and secure sources of energy as the role and extent of coal, oil, and gas change over time.
As transition efforts progress, the practical challenges and trade-offs of decarbonisation are becoming evident. It is increasingly clear the transition will not be linear, and coal will continue to be part of the global energy mix, albeit declining over the coming decades.
We see that our role is to safely, responsibly and efficiently operate our low-cost, long-life assets, while demand for coal used to generate energy continues. Importantly, we believe companies that responsibly manage operational impacts on the environment, people and communities are the most appropriate operators to produce the coal that will be required through the energy transition.
New Hope reports on emissions, energy consumption and energy production to the Clean Energy Regulator annually, in accordance with the National Greenhouse and Energy Reporting (NGER) Scheme. This includes recording and disclosing our Scope 1 and Scope 2 greenhouse gas (GHG) emissions on an operational control basis. For the most recent years’ reporting, see our Sustainability Report and data tables.
Decarbonisation presents a significant challenge for our business. Our absolute emissions reduction trajectory will likely be ‘lumpy,’ rather than linear. This reflects the time and investment required to plan and implement largescale emissions reduction initiatives, and that some emissions reduction will require shifts in entire industries that support coal mining. Nonetheless, we will work within the Safeguard Mechanism framework to honour our obligations. For more, see our latest Sustainability Report.