Incitec Pivot Limited releases 2023 Climate Change and Sustainability Reports
Incitec Pivot Limited (IPL) has released its annual Climate Change Report and Sustainability Report for 2023, demonstrating the progress that IPL has made to prioritise the urgent challenge of climate change and to operating sustainably over the past 12 months.
IPL Interim Chief Executive Officer, Paul Victor, said “With more resources and investment in innovation than ever before, throughout 2023 we have further embedded sustainable practices across the operations of our two industry-leading businesses, Dyno Nobel and Incitec Pivot Fertilisers (IPF). These two businesses provide vital products and services in mining, quarry and construction, and agricultural industries, both in Australia and across the world.
“We are on track to achieve our ambition to be Net Zero by 2050, or sooner if practical, and are progressing a number of decarbonisation projects across both businesses. These projects provide a potential 42% operational GHG reduction by 2030, and are backed by a $100-$120 million sustainability capital investment to 2030.
“I’m also proud to mark the release of IPL’s Energy Policy, approved by our Board, which outlines both our long-term commitment to decarbonisation and responsible energy management, together with the short-term initiatives to achieve these outcomes including developing green hydrogen at commercial and industrial scale and securing natural gas at a competitive price.
“Our highly skilled and smart people have been a key driver of our success in FY23, and we will continue to operate in a manner that responsibly considers all of our stakeholders including our people, the environment, and the global communities in which we operate.”
The Sustainability Report details IPL’s management of the material issues identified for each of our businesses in relation to the environment, our employees, customers, shareholders, suppliers, and the communities we work in. It includes an initial ‘LEAP’ (Locate, Evaluate, Assess, Prepare) assessment for IPL’s fertilisers business, to identify nature-related risks and opportunities, as recommended by the Taskforce on Nature-related Financial Disclosures (TNFD).
The Climate Change Report provides in-depth updates on decarbonisation initiatives and technological innovations across recent IPL projects, including the development of a prototype electric mobile processing unit (eMPU) truck for the delivery of explosives on customer mine sites, tertiary nitrous oxide abatement at IPL’s Moranbah and Louisiana facilities, and expanding IPL’s Enhanced Efficiency Fertilisers (EEFs) range for more sustainable crop nutrition with lower greenhouse gas (GHG) emissions.
Chief Strategy and Sustainability Officer at IPL, Sunil Salhotra, said these are innovative projects that focus on responsible energy management and the decarbonisation of energy use throughout IPL’s value chain across global operations.
“As outlined in our Energy Policy, we understand that renewable energy infrastructure is critical to a decarbonised future and in line with this, we are committed to progressing a number of projects and partnerships to accelerate the uptake of renewable hydrogen at industrial scale. We have also made progress on strategies to decarbonise our value chains, including providing our customers with low carbon solutions. This year the finalisation of GHG reduction assurance on a 12-month DeltaE customer trial, and the building of a prototype electric MPU heavy vehicle in our Dyno Nobel business, complete with its own charging station, are two great examples of the technological innovations that can reduce mining customer energy use and GHG emissions and have direct impacts on their ability to run their operations efficiently, sustainably and safely.
“Looking at our Fertilisers business, we are also continuing to expand our Enhanced Efficiency Fertiliser (EEF) range. These include nitrogen inhibitors, which have been shown to reduce farming customers’ GHG emissions from fertiliser use by up to 76%[1]. These EEFs optimise the uptake of nitrogen by plants and reduce the risk of both nutrient run-off and losses to the atmosphere as GHG for farmers.
“Working alongside our Net Zero strategy and Energy Policy, these projects demonstrate IPL’s commitment to delivering practical innovations that improve our customers’ operational processes and help them achieve their sustainability goals.”
IPL will continue to provide updates as it works with customers and stakeholders to better care for its people, communities and the environment.
Read the Climate Change Report here and the Sustainability Report here.
ENDS
For more information:
Media
Matthew Flugge
Group Vice President Corporate Affairs
Mobile: +61 409 705 176
Email: matthew.flugge@incitecpivot.com.au
About Incitec Pivot Limited
Incitec Pivot Limited (IPL) is an ASX 100 Company and a global leader in the resources and agricultural sectors. Our commitment to Zero Harm drives us as we deliver innovative technology solutions, manufacturing excellence and world-class services. Our explosives company Dyno Nobel plays a critical role in releasing the world's natural resources for infrastructure and energy needs. With a 100-year heritage, Incitec Pivot Fertilisers enables sustainable food production to meet rising global demand.