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
Santos and joint venture partner Beach Energy have announced a final investment decision to proceed with the US$165 million (A$220 million) Moomba carbon capture and storage (CCS) project in South Australia, with startup expected in 2024.
The carbon reduction project will be one of the biggest and lowest cost in the world and will safely and permanently store 1.7 million tonnes of carbon dioxide per year in the same reservoirs that held oil and gas in place for tens of millions of years.