The Environment

Climate Change Statement and Policy

The Board of Aquasure acknowledges the scientific consensus on climate change and recognises that business has an important role to play in addressing climate change.

Aquasure supports the global goal of reducing greenhouse gas emissions consistent with the 2015 Intergovernmental Panel on Climate Change Paris Climate Agreement.

Policy application

Aquasure is the counterparty responsible for the delivery of the Victorian Desalination Project (the “Project”) on behalf of the State of Victoria, which includes the operations and maintenance of the Victorian Desalination Plant (the “Plant”).

As a special purpose vehicle Aquasure was established solely to deliver the Project and consistent with that sole purpose is expected to cease to exist after the concession ends in 2039. As a result, Aquasure as an entity has minimal risk exposure to the impacts of climate change and has not identified actions that it should take to protect itself from the consequence of climate change.

Notwithstanding the above, since commencement of the Project’s operational phase in December 2012, electricity purchased to operate the Plant, and to produce desalinated water, has been 100% offset by the purchase and surrender of Renewable Energy Certificates (REC’s). Aquasure has contractually committed to continue to offset all such electricity use with the purchase and surrender of REC’s, or equivalent, until the end of the Project’s term in 2039.This contractual commitment does not capture the emissions produced by the Plant when operating on back-up diesel generators nor by Aquasure in undertaking its direct operations – such as use of electricity, water and paper in the Melbourne office, business vehicle use and flights.

Aquasure now also commits to achieving net zero scope 1 and scope 2 emissions in its direct operations with effect from 1 January 2021 and to seeking to mitigate scope 3 emissions where it is practical to do so.

Matt Brassington CEO , AquaSure Pty Ltd 14 May 2021