Beach announces target of 25% emissions reduction by Fy25
Beach Energy has announced a new five-year target to reduce emissions from its operations by 25 per cent relative to FY18 benchmarked levels (when Beach acquired Lattice Energy).
Beach is investigating a range of initiatives this year to help it reach the target, but strategies may include deploying technologies to reduce the use of flaring, augmenting certain activities at Beach facilities with renewable energy, and supporting its JV partner Santos in its carbon capture and storage
project in the Cooper Basin.
CARING FOR OUR ENVIRONMENT
As a growing oil and gas explorer and producer, we recognise our responsibility to understand and respect the environment, to minimise our impact, and remediate areas affected by past activities.
Our Environmental Policy outlines our approach to operating in an environmentally responsible manner.
The environmental aspects of our operations are governed by strict regulations which are integrated into our operational procedures. Beach’s Health, Safety and Environmental Management Systems (HSEMS) and relevant operations manuals provide the framework within which our environmental responsibilities are managed.
Beach assesses the environmental and potential impacts of all activities prior to the commencement of a project and regularly engages with relevant stakeholders, including landholders, native title claimants, iwi and local government agencies, to ensure these activities are open and transparent.
Similar to health and safety incidents, all environmental incidents and near misses are recorded and reported through the Beach incident reporting system.
A range of industry specific key performance indicators such as number, type and volume of spills, number and value of regulatory fines, and greenhouse gas emissions numbers are used to measure the effectiveness of our environmental management systems.
ADDRESSING CLIMATE CHANGE
Climate change has been recognised as one of the major global challenges of this century.
The Paris Agreement in 2015 saw the world’s governments come together and commit to a mutual goal of preventing dangerous impacts of climate change by limiting global warming to below 2°C.
As a member of the energy industry, we not only have a significant role to play in managing our carbon emissions, but also have the capability (through our gas portfolio) to accelerate society’s transition to a low carbon future.
Natural gas, inherently, is a low carbon fuel as the CO2 emissions from combustion of natural gas are lower than those from other fossil fuels such as coal.