COMMITTED TO REDUCING our EMISSIONS
Beach has set an equity emissions reduction target – to reduce our scope 1 and 2 emissions intensity by 35% by 2030. As an equity emissions target, this accounts for emissions from operations according to our share of equity in the operation. This recognises emissions reduction progress across both operated and non-operated assets.
We remain committed to our aspiration to reach net zero scope 1 and 2 emissions by 2050.
Beach is a participant in one of Australia’s biggest emissions reduction projects, the Moomba Carbon Capture and Storage (CCS) project, as a joint venture partner with operator Santos.
We recognise that climate change represents a significant global challenge and we are committed to being a part of the transition to a sustainable energy future. This will be achieved by providing safe, reliable, and affordable energy whilst mitigating greenhouse gas emissions.
Beach is also pursuing research and development opportunities to further reduce emissions and benefit communities through partnerships and new energy and technology solutions. This work supports progress towards SDG 13.4 Implement the UN Framework Convention on Climate Change, and as we seek opportunities in delivering clean energy solutions, we will contribute to SDG 7.1 Universal access to modern energy.
MOOMBA CARBON CAPTURE AND STORAGE PROJECT
Beach has a 33% ownership interest in the Moomba CCS Project,
operated by our joint venture partner Santos. Constructed adjacent to the
Moomba Gas Plant in the Cooper Basin, the project is one of the world’s largest CCS projects and will deliver a material greenhouse gas reduction for Beach’s portfolio.
Moomba CCS remains on schedule for first CO2 injection in 2024. Upon its completion, Moomba CCS will safely store up to 1.7 million tonnes
per annum of carbon emissions in the depleted reservoirs near the Moomba
Gas Plant.
The Cooper and Eromanga basins in South Australia and Queensland have the potential for injection of over 20 million tonnes of CO2 per year for more than 50 years.
