Monadelphous has announced its commitment to achieving Net Zero emissions by 2050, focusing on reducing Scope 1 and 2 emissions through renewable energy adoption and operational efficiency.
Material actions and disclosures
The company has set a target to achieve Net Zero Scope 1 and 2 emissions by 2050, with a baseline period of 2024. This target is informed by the latest international climate agreements but has not been derived using sectoral decarbonisation approaches, science-based targets, or global mitigation pathways.
Monadelphous aims to achieve a 20-40 per cent reduction in absolute Scope 1 and 2 emissions by the year ending 30 June 2030. Additionally, the company targets 100 per cent renewable power supply to Australian operational control locations by the year ending 30 June 2030.
During the year, Monadelphous has achieved a 5 per cent reduction in total Scope 1 and 2 emissions compared to the base period (year ended 30 June 2024).
Forward commitments
Monadelphous is developing its decarbonisation pathway, including the expected contribution of direct emissions reductions and the potential use of carbon offsets. The company is also identifying and progressing opportunities for facility updates and improvements, including alternative renewable power supply options such as rooftop solar or purchasing renewable mains power for all Group-owned facilities.
The company has also commenced a detailed assessment of its electricity usage profile and is negotiating with electricity providers to secure contractual agreements for the supply of renewable Net Zero mains electricity for its residual power needs.