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Beyond carbon neutral

From our first customer, we have offset most of their everyday carbon emissions.^
As we continue to support more renewable energy in Australia, we will strive to have a positive impact on our environment… beyond carbon neutral.
Our positive impact on the environment
“Historically, the net greenhouse gas emissions abatement from Diamond Energy’s renewable energy generators exceeds the GHG emissions arising from the electricity consumed by our customers.”^
“Diamond Energy owned and controlled generation assets deliver a lower emission intensity than the grid average. Since inception our assets have delivered a net abatement of 2.47 tonnes of carbon dioxide equivalent per MWh of generated electricity. This is even greater if we include the avoided emissions that would otherwise have been released from organic waste.”^  
Fossil fuel generation typically delivers an emissions intensity up to 1.3 tonnes of carbon dioxide equivalent per MWh (tCO2/MWh) of generated electricity** and the grid average is +0.85 tCO2/MWh (2007-2018 average)*.
We measure our performance using the international Green House Gas protocol (GHG) under the Science Based Targets initiative (SBTi)***. These are the world’s most widely used greenhouse gas accounting standards and are the same ones used by 92% of Fortune 500 companies that respond to the Carbon Disclosure Project.
These acknowledge that greenhouse emissions performance goes beyond what is achievable by acquiring carbon offsets targeted just to a customer’s usage. They include the ‘suppliers’ sources, focusing on generation assets owned or controlled.
The SBTi is a joint initiative between the Carbon Disclosure Project (CDP), the UN Global Compact (UNGC), the World Resources Institute (WRI) and the World Wildlife Fund (WWF). It is intended to set greenhouse gas emission reduction targets, consistent with science, to limit warming to less than 1.5ºC / 2°C.
Both the GHG Protocol and the SBTi assess a company’s emissions commitment to reducing Scope 1 and Scope 2 emissions.
Scope 1 or direct emissions are released by activities at company facilities.
Scope 2 or indirect emissions is the global standard addressing how a company measures its emissions (purchased or acquired) from the electricity, steam, heat and cooling.
Scope 3 or value chain emissions, are the result of activities from assets not owned but indirectly impact the company’s value chain.

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.

^Independent Letter of Opinion Auditing Diamond Energy’s Renewable Energy and Emission Footprint (2007-20). *AEMO Carbon Emissions Intensity Index data, www.aemo.com.au. **Environment Victoria, Yallourn, Australia’s dirtiest power, www.environmentvictoria.org.au ***Science Based Targets Initiative, www.sciencebasedtargets.org

This is one our sustainability principles, to view more please visit here.