Orica Increases CO2 Reduction Targets, Accelerates Actions for Net Zero Emissions
Australian chemicals and explosives firm, Orica, has recently announced an increase in its carbon dioxide (CO2) reduction targets, showing its commitment to combat climate change. The company installed an effective emissions abatement system at its Kooragang Island ammonia plant in New South Wales, which has prompted these ambitious targets.
Orica’s primary objective is to reduce net operational scope 1 and 2 emissions by at least 45% by 2030 from their 2019 levels. This represents an increase from their previous commitment of 40%. Moreover, the firm has set a short-term target of achieving a 30% reduction in net operational scope 1 and 2 emissions by 2026, based on 2019 levels.
In addition to these targets, Orica has introduced a new goal: a 25% reduction in scope 3 emissions by 2035, using a 2022 baseline of 6.54 million tonnes of CO2 equivalent (CO2e). These targets demonstrate Orica’s determination to minimize the negative impact of its operations on the environment.
Sanjeev Gandhi, Orica’s managing director, highlighted the company’s proactive stance towards tackling climate change. He stated, Orica is taking action on climate change and expecting to deliver at least a 19% emissions reduction by the end of FY2023. We are also accelerating our commitments and expanding the scope, building a credible pathway towards achieving our ambition of net zero emissions by the latest 2050, while positioning our business for a lower carbon world.
What sets Orica’s lower emission targets apart is the introduction of the tertiary catalyst abatement technology system. Thanks to this innovative system, Orica has been successful in significantly reducing greenhouse gas emissions from its ammonia, nitric acid, and ammonium nitrate plants at the Kooragang Island facility. In fact, the emissions have been reduced by an impressive 98%.
The company’s commitment to combating climate change aligns with global efforts to reduce greenhouse gas emissions. By increasing its CO2 reduction targets and implementing advanced technologies, Orica is on track to achieve its ambition of net zero emissions by 2050.
As the world continues to face the challenges of climate change, it is encouraging to see companies like Orica taking significant steps to minimize their carbon footprint. The commitments made by Orica send a strong message that industries can adopt sustainable practices and contribute to the global pursuit of a lower carbon future.
This news is indeed a positive development in the fight against climate change, and it demonstrates that businesses can play a vital role in creating a more environmentally friendly world. Orica’s actions serve as an inspiration for others in the industry to take responsibility and actively work towards reducing their emissions.
