Port sustainability kudos

Port of Newcastle has been awarded Silver Partner status in the Sustainability Advantage program run by the NSW Department of Planning, Industry and Environment’s leading sustainability initiative, recognising the Port’s significant sustainability achievements since the launch of its Environment Social and Governance Strategy (ESG) in 2019.

“As custodians of the region’s most critical asset, it is imperative that we think in decades not years or months,” said Craig Carmody, CEO, Port of Newcastle.

“By taking this long-term approach to our business strategy and embedding ESG initiatives and thinking into everything we do, we are working to create a strong, thriving Port that continues to support local jobs and the economic prosperity of the Hunter and NSW economies.”

Significant progress

Mr Carmody said that over the past two years the port has made significant progress towards achieving its ESG Strategy commitments through key initiatives including the transition of 75% of its vehicle fleet to electric vehicles and securing a 100% renewable energy contract for 90.5% of its electricity usage, with the remainder to be fully renewable by end of 2021.

To date, the port has reduced 35% of scope one and two emissions it generates directly.

Jackie Spiteri, Port of Newcastle Senior Manager ESG,  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 membership to the Sustainability Advantage Program has been a critical tool in guiding the development of the Port’s sustainability commitments set out in our ESG Strategy,” she said.

“By aligning sustainability initiatives across our operations with the United Nations Sustainable Development Goals we are taking a leadership role in the business community and are actively contributing to sustainable development targets globally.”

“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.”

Through the introduction of Port of Newcastle’s renewable energy contract, the port has also been able to reduce emissions from tenants operating within its embedded networks, a total of 3570 tonnes of CO2e Scope 3 emissions to date.

This recognition follows the Port of Newcastle securing an industry first Sustainability Linked Loan (SSL) in April, which directly links the cost of its debt to achieving its science-based emission reduction targets.