Cue Energy Resources Limited has detailed its approach to managing climate-related risks and reporting emissions, aligning with the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations. The company follows a robust risk management system framework, evaluating climate-related risks alongside broader business risks and recording them in a central risk register. Climate risks are reviewed regularly, incorporating operational considerations, industry developments, peer benchmarks, shareholder feedback, regulatory updates, and internal analysis by staff and contractors.
Material actions and disclosures
Cue reports Scope 1 and Scope 2 emissions from its producing assets and corporate locations. Scope 1 emissions are based on operator-supplied data for Maari, New Zealand, and Sampang and Mahato in Indonesia, while Scope 1 emissions for Onshore Australia are estimated using operator-reported activity data. Scope 2 emissions are reported from the Sampang Production Sharing Contract (PSC) and Onshore Australia, where grid electricity is used for gas plant processes. Additional Scope 2 emissions are reported from the Company’s corporate offices in Melbourne and Jakarta and Cue’s Samarinda field site.
The company also offsets carbon emissions from office operations and air travel by partnering with Greenfleet Australia, a non-profit organisation that plants native trees in legally protected biodiverse forests. These forests help absorb carbon emissions and contribute to long-term environmental restoration.
Forward commitments
Cue aims to continue reporting Scope 1 and 2 emissions and prepare for the implementation of mandatory climate-related financial disclosures in Australia, scheduled for July 2027. The company also plans to collaborate with joint venture partners to identify and implement emission reductions or offsets at producing sites and support sustainability improvements at office sites.
Cue’s governance structure includes the Operational Risk and Sustainability Committee, which reports directly to the Board and oversees climate-related risks. The Chief Executive is accountable for climate risks, including those associated with individual assets and financial investments impacted by climate change.
The company recognises the continuing role of gas and oil in supporting reliable regional energy systems and incorporates carbon pricing, emissions performance, regulatory change, and joint venture influence into risk assessment and investment decision-making.