Taking a strategic approach to managing our environmental impact is essential not only for building greener futures, but for the long-term growth, resilience and sustainability of the communities in which we operate.
In FY21 we introduced several global programs aimed at protecting the environment and reducing our energy consumption. In parallel we also embarked on a progam of work to benchmark our carbon emissions.
Tracking our carbon footprint
The development of our emissions inventory is key to understanding our carbon footprint and identifying potential areas of risk. An inventory empowers us to set informed targets, develop effective emissions reduction strategies and keep track of our emissions over time.
Our first step towards benchmarking was to prepare an inventory of Scope 1 and 2 emissions. Scope 1 covers direct emissions from owned or controlled sources. Scope 2 covers indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by the reporting company.
Leading sustainability consultancy Point Advisory assisted IDP in developing our corporate carbon inventory that aligns with ISO14064 the Greenhouse Gas Protocol (GHG) and Australia's Climate Active Standard.
IDP's Carbon Inventory
IDP's corporate GHG emissions inventory is dominated by Scope 2, purchased electricity emissions (99%), with a small amount of Scope 1 emissions from diesel consumption (1%).
Accounting for Scope 3 emissions is increasingly becoming standard practice and ensures completeness when disclosing an organisation's carbon footprint.
IDP will look to expand the current inventory to include Scope 3 sources in FY22 alongside the development of an emissions reduction strategy. Scope 3 includes all other indirect emissions that occur in a company's value chain.
An emissions reduction strategy will likely include a combination of emissions reduction initiatives and offsetting of any residual emissions.
To understand more about how this fits into our wider Corporate Responsibility framework, please view our FY21 Sustainable Futures goals and deliverables.
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