- Viva Energy (VEA) announces 2030 net-zero emission goals for scopes one and two with a 10 per cent reduction for scope three
- The company says it will meet goals by implementing processes across scopes ones and two which include retail, fuels and marketing
- Scope three extends to the processing involved once the material or product has been purchased and distributed to the end consumer
- As part of the 2050 emission goals, the company hopes the energy market will drive the change and encourage transformation from the consumer up
- Viva Energy shares traded grey and closed the day at $2.25
Viva Energy (VEA) has announced 2030 net-zero emission goals for scopes one and two with a 10 per cent reduction for scope three.
The company said it would meet goals by implementing processes across scopes ones and two which include retail, fuels and marketing and equates to roughly 52,000 tonnes of carbon dioxide per annum.
However, the company has only implemented a 10 per cent reduction in carbon dioxide for scope three which produced approximately 1.4 million tonnes of carbon dioxide per annum.
For the third and final scope, the company has set the goal for net-zero by 2050.
Scope three is extended to the processing involved once the material or product has been purchased and distributed to the end consumer.
This involves but is not limited to waste management, business trips, rental vehicles, energy and fuel.
As part of the 2050 emission goals, the company has hopes the energy market will drive the change and encourage transformation from the consumer up.
“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,” Chairman Robert Hill said.
“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 one and two 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.”
Viva supplies approximately one-quarter of Australia’s liquid fuel requirements and is the exclusive supplier to Royal Dutch Shell fuels which owned 1330 service stations across Australia.
Viva Energy shares traded grey and closed the day at $2.25.