Deep Yellow Limited has announced its plans to undertake a formal climate-related risk assessment and to report on Scope 1 and Scope 2 emissions, aligning with the AASB S2 Climate-Related Disclosures standard.
Material actions and disclosures
Deep Yellow currently reports Scope 1 and Scope 2 emissions and is developing the systems and supplier data required to measure and disclose Scope 3 emissions in future reporting periods. The company’s direct climate impact during the exploration phase is currently limited, with GHG emissions arising primarily from diesel use in exploration drilling activities and contractor transport, grid and generator electricity at site and office facilities, and business travel.
Deep Yellow’s GHG emissions have grown steadily year-on-year as projects progress from exploration to early works, particularly at Tumas. Emissions are expected to increase substantially as projects transition toward development. Design decisions taken now, including energy source selection, fleet specification, and process efficiency, will be key determinants of the company’s future emissions footprint.
Forward commitments
Deep Yellow is currently undertaking a readiness assessment and implementation planning to build the governance, data, scenario analysis and assurance capability required ahead of the first reporting period in FY28. The company is also planning a refreshed materiality assessment for FY27 to extend consideration to the construction and development phases.
Deep Yellow’s climate-related risks include physical risks such as reduced water availability, extreme heat affecting workforce safety and equipment performance, and flooding or storm events disrupting site access and logistics. Transition risks resulting from changes in policy, legal, technology, and disclosure requirements associated with a shift to a low-carbon economy are also expected to include carbon pricing and rising energy costs.
The company’s response to climate change is overseen by the Sustainability Committee, supported by the Head of Environment and Sustainability.