Thiess Group has announced the further decarbonisation of its operations in an effort to strengthen its commitment to climate change action.
The company has announced a set of interim targets to lower its Scope 1 and 2 emissions to net-zero by 2025.
Scope 1 emissions are direct emissions caused by operational activities, while Scope 2 emissions are indirect operational emissions, such as a power station burning coal to generate electricity, which the company then uses to power its operations.
Thiess has also set itself the target of a 25 per cent reduction in Scope 3 emissions from diesel combustion in its operated fleet by 2035.
Scope 3 emissions are generated along the value chain, such as in the transportation of materials.
Thiess Group also wants 85 per cent of its light vehicles to switch to hybrid or battery electric by 2030.
The new targets follow the release of the company’s 2022 sustainability report last week. According to the report, Thiess made significant progress in its sustainability agenda.
The company has a goal of rebalancing its thermal coal revenue to less than 25 per cent by 2027. However, Thiess is so far on track to deliver on this target by 2025.
In 2022, Thiess continued to implement circular economic practices aimed at eliminating waste and pollution, and generating value from wasteful by-products.
The company managed to reduce its total waste to landfill by 27 per cent and more than doubled its recycled waste compared to 2021.
“Thiess Group is focused on driving innovation and change in the industry to deliver sustainable resource solutions for our clients and stakeholders,” Thiess chief executive officer Michael Wright said.
“We’ve demonstrated this through the progress we’ve made and our strong commitments.
“Thiess has introduced a new… targets to decarbonise our business, which form a clear part of our strategy moving forward.
“I’m proud of the considerable headway we made executing against our sustainability strategy in 2022.”