CERTIFIED CARBON NEUTRAL WITH 100% AUSTRALIAN CARBON CREDIT UNITS – SUPPORTING AUSTRALIAN OFFSET PROJECTS, OUR COMMUNITIES AND THE LOCAL ENVIRONMENT
Cooper Energy Limited is an ASX listed company whose core business is natural gas exploration, development and production centered around two hubs; the Otway Basin in western Victoria, and the Gippsland Basin in eastern Victoria. We are the Operator of all our offshore gas production, exploration and development activities and of the Athena Gas Plant onshore Otway in regional Victoria. Our head office is in Adelaide, and we have an office in Perth where our major projects and well construction activities are managed.
“When developing our climate strategy and emissions targets, we realised we had the ability to go carbon neutral and we seized the opportunity.”
Type of certification
How long have you been certified carbon neutral?
Since June 2021.
Why did you choose to go carbon neutral?
In 2014 we started voluntarily quantifying and reporting our emissions. The 2020 commitment to become a carbon neutral company recognises the importance of this issue to our people, our investors, our customers and stakeholders. It is an initiative which recognises our willingness to take a forward-looking view on sustainability.
As an Australian domestic gas producer, we share in the dual challenge of delivering energy to support the community’s health and prosperity, whilst managing climate related issues.
When developing our climate strategy and emissions targets, we realised we had the ability to go carbon neutral in 2020 and we seized the opportunity.
This is the right thing for our business, the environment and communities in which we operate.
What are the anticipated benefits of your carbon neutral certification?
- Supply chain opportunities, in particular the ability to sell our product to customers who are pursuing and value a carbon neutral upstream supply chain
- Alignment with banks, institutional (primarily super funds) and retail shareholders
- Enhanced ability to recruit high performing engineers, geoscientists, lawyers, environmental scientists and commercial staff
- Improved morale and sense of purpose within the organisation
- Establishes a platform from which to then build the next stage of our journey. We can now start to explore partnerships with our customers to work on Scope 3 emissions challenges.
What offset projects do you support?
A biodiversity conservation project in South Australia.
Why did you choose this project?
The selection of this project, and our partnership with Greening Australia’s Biodiverse Carbon, resulted from a values-based review of offset opportunities.
The project is close to our operations in south-east Australia; it provides a range of environmental and social co-benefits; and generates sufficient offsets for us to fully offset our FY20 emissions from the one local project.
The project includes reforestation and restoration of over 600 hectares of degraded land to sequester CO2 and generate Australian Carbon Credit Units.
As well as offsetting thousands of tonnes of carbon dioxide the project provides additional benefits such as restoring native vegetation and wildlife habitat, increasing the habitat for the threatened Malleefowl and migratory shorebirds and improving the quality of subcoastal wetlands.
How can the community support you?
Customers and community organisations can speak with Cooper Energy about carbon neutral opportunities in the upstream gas supply chain and other initiatives that may align with their own sustainability strategies.
What else are you doing to reduce emissions?
Becoming carbon neutral is a first step for Cooper Energy. We are evaluating other projects to maintain net zero emissions as our business grows, investigating sustainable energy and efficiency opportunities in our operations, and investigating other sustainable energy business opportunities.
What has been the impact of your action?
In FY20 we fully offset 10,488 tonnes of CO2 equivalent, calculated on an equity share basis. This included 9,090 tonnes of Scope 1 direct emissions, 474 tonnes of Scope 2 emissions associated with purchased electricity and 923 tonnes of controllable Scope 3 emissions from embedded energy and business travel.
What advice would you give to a business considering certification?
Defining the control approach (financial control, operational control, or equity share) is a key early decision that businesses should consider. We have used an equity share approach which recognises that our projects and assets are generally owned in joint venture with other companies. This approach allows our emissions to be accounted for in a manner consistent with our costs, revenues and production volumes.
The equity share reporting boundary also captures Cooper Energy’s share of emissions from its non-operated assets, which would not be included if reporting by operational control.