Industry: Commercial
ZEN Energy Whistleblower Policy
SBTi launches world-first net-zero corporate standard
The Science Based Targets initiative (SBTi), the global body enabling businesses to set emissions reduction targets in line with science, today launches the world-first Net-Zero Corporate Standard.
To combat this, the SBTi’s Net-Zero Standard is the world’s first science-based certification of companies’ net-zero targets in line with the Paris Agreement’s goal of keeping planetary warming to 1.5°C.
SBTi’s science-based Net-Zero Standard launches today to provide a credible and independent assessment of corporate net-zero target setting and enable companies to align their near- and long-term climate action with limiting global warming to 1.5°C.
Seven companies, including AstraZeneca, CVS Health and Ørsted, are the first worldwide to have science-based net-zero targets verified by the SBTi.
SBTi’s Standard clarifies that rapid action to halve emissions before 2030 and long-term deep emissions cuts of 90-95% before 2050 are crucial for net-zero targets to align with science.
To achieve net-zero with the SBTi, emissions that are not possible to cut – the final 5-10% – have to be neutralized through carbon removals.
Companies should invest in climate mitigation beyond their value chains on the road to net-zero, but this must be in addition to, not instead of, deep emission cuts in line with science.
Companies are currently self-defining net-zero targets without a credible and independent assessment of their ambition and integrity
“For the first time, the SBTi Net-Zero Standard offers companies robust certification to demonstrate to consumers, investors and regulators that their net-zero targets are reducing emissions at the pace and scale required to keep global warming to 1.5°C. We’re now inviting all companies with net-zero targets and ambitions to show stakeholders that their decarbonization pathway is aligned with science. And the rest of the business sector – we call on you to join the Race to Zero.”
Alberto Carrillo Pineda, Co-Founder and Managing Director of the SBTi.
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ZEN Energy to Power SA Government Energy.
ZEN Energy and SA Government have signed a new energy supply contract that will help power COVID recovery in the state, creating 810 construction jobs and supplying cleaner, cheaper and more secure electricity.In a decade-long deal with South Australian Government, the contract includes the construction of South Australia’s largest solar farm and the state’s 5th grid-scale battery.
ZEN Energy won the new contract after a rigorous process, to supply power to the State Government through to 2030. Selecting ZEN Energy is an example of the government’s commitment to a uniquely South Australian organisation. ZEN Energy will supply the state with highly competitive renewable energy solutions.
“ZEN Energy is pleased to be able to continue to build a long term relationship with the SA Government to supply its electricity needs across all government sites. This recognises ZEN Energy’s high-quality customer service approach and innovative energy solutions.
This is a landmark contract for ZEN Energy’s business, building on other recent announcements for long term renewable energy supply contracts and reinforces the ability for renewable energy to supply customers with clean, affordable energy solutions.
This contract continues ZEN Energy’s growth with more jobs at its head office in Adelaide.” said Ross Garnaut, Director ZEN Energy
In a statement from Minister for Energy and Mining Dan van Holst Pellekaan said, “The Marshall Government has used its significant purchasing power to secure the construction of a 280 MW solar farm at Cultana near Whyalla and 100 MW battery near Port Augusta – both to be delivered in partnership with SIMEC Energy Australia.
This is a great outcome for taxpayers, for jobs, for power prices and for grid security.
The Marshall Government’s energy policies are making these long-proposed projects a reality.
It’s a big solar farm and a big battery, with big savings for taxpayers, creating a big jobs number.
The $660 million investment to deliver these two projects includes the creation of up to 810 new jobs at the peak of the construction phase and around $40 million in local goods and services.
These projects will be a coup for the communities of the Upper Spencer Gulf.
This new contract will allow ZEN Energy to grow its business customer base, enter the residential, retail market and improve both the security and reliability of the grid with the state’s 5th grid-scale battery.
Once operational, these new assets will have a positive impact on competition in South Australia and deliver emissions reductions and price reductions, saving SA households $10 on average on their electricity bills, on top of the $158 average reduction in our first two years in Government.”
The 10-year agreement commences on the 1st of November and will result in around $12.8 million in savings for taxpayers compared to the previous power arrangements.