Port Of Newcastle Recognized at Preeminent Sustainability Awards

[By: Port of Newcastle]

Port of Newcastle has been recognised amongst the state’s leading organisations committed to innovation and excellence in sustainability in the Banksia Foundation’s 2021 NSW Sustainability Awards.

The Port’s progress on its Environment, Social and Governance goals has been applauded by the Banksia Foundation’s judging panel who named Port of Newcastle as a finalist for the Net Zero Action Award and Small and Medium Enterprise Transformation Award, two of seven categories in the Awards.

Port of Newcastle CEO Craig Carmody said both nominations in Australia’s longest running sustainability awards is a welcome acknowledgement of the Port’s transformational sustainability journey following the launch of the business’s first Environment, Social and Governance Strategy in 2019.

“It is a privilege to be recognised as a finalist in the Banksia Foundation’s NSW Sustainability Net Zero Action Award and Small and Medium Enterprise Transformation Award the amongst organisations who, like the Port of Newcastle, are leading the way in making progress toward creating a sustainable future for the communities they support, the state and the nation.”

“We are proud of our sustainability achievements over the past 12 months despite the challenges faced globally - including gaining a GRESB ranking of 92 and ranking 1st in our sector in Oceania, gaining Silver Partner status in the NSW Sustainability Advantage Program, the transition of 75% of our vehicle fleet to electric vehicles; and securing a 100% renewable energy contract for 90.5% of our electricity usage, the remainder to be fully renewable by end of 2021,” said Mr Carmody.

“Port of Newcastle is committed to driving the principles of sustainability throughout our operations, internal culture, and the way we engage with customers and communities. We are committed to continuous improvement in line with our Environment Social and Governance Strategy and carbon emission reduction targets and look forward to what we can achieve in 2022.”

The award nominations follow the recent announcement by Prime Minister Scott Morrison that Port of Newcastle will join a partnerships with Macquarie Green Investment Group and the Commonwealth Government’s Australian Renewable Energy Agency (ARENA) to support the development of a hydrogen economy in the Hunter Region. The announcement included the launch of a $A3million feasibility study into the development of the Port of Newcastle Green Hydrogen Hub project with the backing of a $A1.5 million funding grant from ARENA.

“We are committed to future diversification at the Port, and the Port of Newcastle Green Hydrogen Hub is a significant vote of confidence in our future ambitions to identify and embrace step-change opportunities to create thousands of low-carbon jobs in a new export industry, contribute to the Hunter, NSW and Australian economy, support local industries and customers, and ensure a stronger Port for the future. This project is part of our commitment to providing Hunter industries with more environmentally sustainable export pathways to global markets,” said Mr Carmody.

Port of Newcastle’s Environment, Social and Governance (ESG) Strategy lays out its long-term commitment to Net Zero by 2040 and also defines its medium term SBTi approved target for Scope 1 and 2 emissions.

Port of Newcastle’s Chief Financial Officer Nick Livesey said the Port’s has extended its approach to sustainability to innovative financing for the Port’s planned diversification investments which will support new industries such as green energy and future career pathways through its recently announced landmark Sustainability-linked Hedge which follows the industry first Sustainability Linked Loan which directly link the cost of its debt to achieving its science-based emission reduction targets.

“Through our innovative sustainability financing frameworks, Port of Newcastle has established itself as a global leader in the industry by demonstrating the use of financial instruments to support credible, ESG-compliant business diversification.”

“Our planned investment over the next five years is aimed at enabling the immediate diversification of our business, improving our existing operations and further expanding our portfolio of 26 trades that currently come through the Port. The financial arrangements we have in place support this diversification and help us to further stretch our sustainability targets with data-based approach to achieving them,” said Mr Livesey.

Along its sustainably journey, the Port of Newcastle has been a key champion of ESG and sustainability across the Australia’s port sector and was the first to become certified by EcoPorts and remains one of only two ports in Oceania to be certified under the leading global Port Environmental Review System (PERS).

The NSW Sustainability Awards, run by the Banksia Foundation, seek out and recognise innovation and leadership through the lens of the UN Sustainable Development Goals (SDGs). These global goals aim to unite the world businesses, governments and citizens to end extreme poverty, fight inequality and protect the planet. The Awards will be presented on Thursday 9 December 2021 and winners will go forward to the Banksia Foundation’s National Sustainability Awards.