Carnarvon Energy Ltd has retired 13 ACCUs from its existing Carbon Bank to fully offset all Scope 2 emissions generated throughout its FY26 reporting period. These ACCUs, sourced from avoided deforestation projects in NSW and Queensland, protect land from clearing for up to 100 years and 25 years respectively.
Material Actions and Disclosures
Carnarvon’s FY26 GHG emissions profile is solely comprised of Scope 2 emissions generated from electricity consumption at its Perth office. No Scope 1 emissions were produced as the company did not have assets in operation or exploration activities during the reporting period. All emissions generated during the FY26 reporting period were fully offset through the voluntary retirement of an equivalent number of ACCUs from Carnarvon’s Carbon Bank.
During the reporting period, Carnarvon announced that it has entered a subscription agreement with Strike Energy Limited to make a strategic investment of A$86 million to acquire up to a 19.9% interest in Strike. This agreement aims to facilitate the development of Strike’s core assets, provide funding certainty, and support the delivery of its strategic growth and energy transition objectives.
Forward Commitments
Carnarvon continues to work within the Dorado joint venture to ensure that emissions reduction and abatement opportunities are identified and assessed as the development progresses. Scope 2 GHG reporting and offsetting will continue to be a priority for the company.
Carnarvon’s Risk, Governance and Sustainability Committee continues to monitor regulatory developments and reporting requirements related to mandatory climate-related financial disclosure legislation. The company also reviews its internal carbon pricing assumptions annually, maintaining its existing low, base, and high carbon price scenarios.
These actions and commitments reflect Carnarvon’s ongoing efforts to manage its environmental impact and align with broader sustainability goals.