Our commitment
Channel Infrastructure not only takes responsibility for, and commits to, reducing our direct greenhouse gas emissions but recognises our responsibility to utilise our infrastructure to facilitate the renewable fuels transition for New Zealand.
Channel recognises that the fuel and transport sector significantly contributes to climate change and our infrastructure continues to distribute refined oil products. The Company remains committed to supporting the reduction of emissions within the fuels supply chain. Our large storage capacity at Marsden Point is able to support larger shipping vessels, providing opportunity for emissions efficiency of delivered fuel and lower upstream emissions intensity, and via our Pipeline, we provide our customers with the lowest emissions delivery of fuel to Auckland.
Emissions reduction at Marsden Point
Channel Infrastructure is well on track to achieve our goal of Net Zero Scope 1 and 2 emissions by 2030. In practical terms, this means that we have gone from being one of the largest emissions intensive businesses listed on the New Zealand Stock Exchange (with emissions of over c.1.2 million tCO2e as a refinery), to accounting for less than 0.1% of Scope 1 and 2 CO2 emissions on the NZX50 in FY23.
We continue to prioritise efforts to reduce our emissions and from early 2024, with the implementation of Channel’s certified renewable electricity contract, we have largely eliminated our direct emissions – some six-years ahead of the company’s target. Read more about our long-term renewable electricity supply here.
Facilitating the renewable fuels transition for New Zealand
Our critical infrastructure is capable of handling lower carbon fuels, including second-generation bio and Sustainable Aviation Fuels (SAF). We have a number of plans under consideration that would, should these projects proceed, see our critical infrastructure used to support the decarbonisation of the transport sector, while at the same time continuing to help ensure supply chain resilience.
This includes, among other things, continuing to work with Fortescue Limited to evaluate the potential to produce synthetic SAF, or eSAF, at Marsden Point and the potential project with partners Seadra, Qantas, Renova, Kent PLC, and ANZ Bank, considering a biorefinery at Marsden Point.
Our targets
To hold ourselves to account and ensure we focus our efforts on where we can make the most impact along our transition roadmap, we set ourselves a range of ESG targets which are updated each year as we deliver on our company strategy.
In addition to the targets set for 2025, Channel has committed to the following longer-dated sustainability focused targets. These ambitious targets ensure we continue to focus on improving our ESG performance over time.
