Science Based target initiative (SBTI) 2020
In September 2020 we committed to achieve targets under the SBTI.
“Diamond Energy is meeting and exceeding its SBTI commitment to reduce its Scope 1 and Scope 2 GHG emissions below 30% by 2030”*
Mark Bertoncello, Managing Director, commented “we are proud to have set our target at the lowest possible, of “well below 2 degrees” and commit to reduce our absolute scope 1 and scope 2 GHG emissions by 30% by 2030 from a 2018 base year, and to measure and reduce our scope 3 emissions using the “Green House Gas Protocol Value Chain (Scope 3) Accounting and Reporting Standard.”
Our generation assets, since inception, avoid more emissions of carbon dioxide equivalent CO2 gases, than is required just for generation alone. Our renewable generation assets, owned or affiliated, allow the avoidance of additional, significant methane emissions. The consequence of this growing portfolio is that, since inception, we have contributed additional CO2e avoidance beyond that required by ‘zero’ impact renewable generation.
We are already negative on an annual and cumulative basis, and are seeking to become even more carbon negative, by virtue of our SBTI target.
We are already ‘meeting and exceeding’ our SBTI goal. We have set a goal for 2030 which is 33.3% greater than our 2018 baseline on an absolute emission basis. We almost achieved our 2030 target in 2019, ten years ahead of our schedule SBTi target
The Letter of Opinion Auditing Diamond Energy’s Renewable Energy and Emission Footprint Performance, April 2021 can be seen here.