As the custodian of an energy network shared by over 4 million Australians, Ausgrid has a critical role to play in leading and delivering the transition to a low-cost, reliable and decarbonised economy. We accept unequivocally that human-induced climate change presents a growing threat to our business, economy, society and the planet.
Climate risks have the potential to impact Ausgrid in two ways: through physical impacts caused by changes in climactic conditions, such as the increased frequency and severity of heatwaves, bush fires, droughts, storms and floods through transitional impacts that arise from the extensive policy, legal, technology and market changes required to shift to a low carbon economy.
As we seek to deliver responsible and sustainable energy solutions for our customers and communities, we are implementing actions that address and mitigate these risks.
To address our long-term carbon risks, and support national and international climate goals, we are:
- Setting targets to lower our greenhouse gas emissions – 8% reduction (44% excluding line losses) by 2024; 17% for all carbon emission by 2030 – and publicly reporting progress to hold ourselves accountable.
- Increasing the use of renewables in our properties through generation from our own solar panels.
- Establishing an internal cost of carbon on SF6 and energy, to assess alternatives.
- Making it easy for customers to connect DER (Distributed Energy Resources) to the network.
- Trialling and supporting community solar and batteries to improve access to sustainable energy for all.
- Priming our network to assist in the transition of Australia’s vehicle fleet from fossil fuels to electric power.
- Helping our customers participate in the DER market by providing options for them to supply energy into the grid.
- Reducing the carbon footprint of line losses by facilitating the use of renewable energy in the grid.
- Ensuring our network is prepared for the start of the bush fire danger period each year.
- Maintaining the ability to quickly restore service after extreme weather events.
- Maintaining a resilient grid, capable of managing high-stress periods during heat waves and other extreme weather events.
- Reporting transparently on our progress in our annual Corporate Sustainability review.
- Supporting the achievement of aligned UN Sustainable Development Goals most closely aligned with our business model and impacts.