Breaking Down the New Climate-Related Financial Disclosures: A Simple Guide

Edge Utilities_Climate-Related Financial Disclosures

The way businesses approach climate change is becoming increasingly important, and new Climate-Related Financial Disclosures are being created to guide this. This process gained momentum in 2021 with the formation of a group called the International Sustainability Standards Board (ISSB).

The ISSB dedicated 18 months to consulting with different industries, aiming to formulate a comprehensive guideline that encourages companies to be more transparent about their sustainability efforts. In June, they introduced a set of guidelines called the IFRS Global Sustainability Standards, designed to instill confidence in the information companies share regarding their sustainable practices.

Following this, the government has drafted a paper that outlines expectations for large companies. These companies will be required to report on their plans, risks, and opportunities related to climate change. The reporting must align with international standards and show the companies’ readiness to achieve the objectives of the Climate Change Act 2022.

The implementation of these rules begins on July 1, 2024. Initially, they will apply to Australia’s biggest companies, as defined by their revenue, asset value, and employee count. However, by 2027, companies categorised as “Controlling Corporations” under NGERS may also have to comply, even if they don’t meet the initial criteria.

Companies will be mandated to disclose various information, including data on their emissions, plans to meet climate targets, and strategies to handle any climate-related risks. Non-compliance could lead to significant penalties.

While the government is soliciting feedback on these rules until July 21, 2023, it’s clear they’re set to become a permanent fixture. By the next financial year, many businesses will be required to adhere to these rules, and there will be no option to opt out. It’s crucial for businesses to start preparing now to be ready when the final version of the rules is officially enacted.

This is a summary article from Edge2020 – read the original article.

The team Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping councils and business communities reach their net zero goals through renewable power purchasing agreements (PPAs) and smart portfolio management.
To discuss options and plans for your community contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss. 

Is your business ready to be part of the Brisbane Olympics 2032?

Brisbane Olympics 2032 Precinct

Brisbane 2032 International Olympic Committee (IOC) have called for businesses to be “Brisbane Olympics 2032 Ready” but what does this mean for your Business Energy?

As we countdown to the Brisbane 2032 Olympics, action towards creating Australia’s first net zero carbon region has commenced with the launch of the Brisbane 2033: Legacy Project. This project outlines a policy and framework of SMART goals across the key themes of Connected, Creative, Equitable and Enterprising with the goal to achieve a Climate Positive Games and positive legacy for the region.

“In 2032, the eyes of millions of people will be in our homes, what do we want them to see?” John Coates AC, President of Australian Olympic Committee.

The Queensland Government has indicated that all business intending to be a part of the Brisbane Olympics 2032 will be required to meet the net zero carbon goals and the Games’ procurement rules on zero emissions and zero waste.

So how can you become Brisbane 2032 Olympics Ready and be a part of Australia’s first net zero carbon region?

Our team of energy experts at Edge Utilities have outlined three key ways below.

3 ways to show your business’s commitment to a Climate Positive Games with Edge Utilities.

 

  1. Reduce your carbon emissions.

Taking action to reduce carbon emissions is a crucial step in preparing for the Brisbane 2032 Olympics. There are various effective approaches to achieve this goal. These include conducting equipment assessments, upgrading to energy-saving infrastructure, implementing solar panels, integrating smart technology, and adopting energy-efficient lighting solutions.

By implementing these strategies, businesses can make significant strides towards Brisbane 2032 Olympics readiness while actively contributing to a sustainable future.

  1. Purchase green energy.

Simply purchasing green energy is another great way to show your Climate Positive commitment to the Brisbane 2032 Olympics. Edge Utilities can work with you to secure cost effective energy procurement from renewable resources, such as solar, wind and hydro. We do the administrative work for you, ensuring reliable secure energy for your business whilst, managing cost and reducing your emissions through green purchasing.

As part of our comprehensive services, we can guide your business in exploring energy procurement and generation options, including energy carbon offsets, enabling you to make informed decisions towards sustainable and low-carbon operations. We are deeply committed with renewable energy, which play a critical role in preparing for a Climate Positive Olympics.

One of our key offerings is the facilitation of Power Purchase Agreements PPAs powered by Edge2020. Power Purchase Agreements allow businesses to procure energy from renewable sources such as solar, wind, and hydropower at fixed, predictable costs. This approach is particularly advantageous for small to medium-sized businesses, providing a cost-effective path to lower carbon emissions and fostering growth within the renewable energy sector.

Learn more about Power Purchase Agreements.

  1. Join a renewable energy portfolio.

A renewable energy portfolio can open a wealth of opportunities for your business and goes beyond simply securing renewable power. By joining a power portfolio, you will benefit from the power of bulk purchasing, yielding cost advantages not usually accessible to individual businesses and mitigating price fluctuations. Edge Utilities offers individual businesses the opportunity to apply for a renewable energy portfolio through our Edge Utilities Power Portfolio (EUPP).

When businesses join the Edge Utilities Power Portfolio, they gain access to the kind of purchasing power that is typically only available to larger portfolios. This opens the door to custom-made electricity contracts, providing an essential tool for businesses aiming to achieve net zero emissions. Edge Utilities Power Portfolio serves to remove obstacles for Australian businesses, making the goal of 100% renewable electricity within their contracts a more achievable reality. This not only supports environmental initiatives but also echoes the sustainable business strategies akin to the values championed by global events like the Brisbane 2032 Olympics.

Discover more about the Edge Utilities Power Portfolio.

Edge Utilities has a climate active registered consultant, and it’s powered by Edge2020. Gain access to tailored energy solutions, green energy experts, risk management and emission reduction strategies designed to secure your energy procurement, mitigate fluctuating energy prices, and go for green and gold!

 

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Australia’s first net zero emissions, hydrogen/gas power plant gets the green light.

EnergyAustralia has announced that the expansion of its existing Tallawarra power station in the Illawarra region is proceeding, following an agreement reached with the Government of New South Wales.

Tallawarra B will be Australia’s first net zero emissions hydrogen and gas capable power plant, with direct carbon emissions from the project offset over its operational life. EnergyAustralia will offer to buy 200,000kg of green hydrogen per year from 2025.

The 300+ megawatt power station will be powering New South Wales homes and businesses in time for summer, following Liddell power station’s retirement.

Not only will the new power station deliver reliable power to around 150,000 homes but it will also contribute $300 million to the economy and create 250 well-paid jobs during construction.

“EnergyAustralia has a goal of being carbon neutral by 2050. Today we provide further evidence of another energy project that can help keep the lights on for customers with reliable, affordable, and cleaner energy,” Managing Director Catherine Tanna said.