Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Just Transition
• People and Community
• Governance

Environmental Achievements

• 98% reduction in Scope 1 and 2 CO2 emissions (over 1 million tonnes per annum) compared to 2019 levels.
• 85% reduction in electricity usage.
• Elimination of natural gas requirements.

Social Achievements

• 96% of employees impacted by refinery simplification changes found new jobs or began retraining within six months.
• Zero recordable and lost-time injury frequency rates for the second consecutive year.
• Developed E Tū Tangata safety culture program and Care framework for employee wellbeing.

Governance Achievements

• Published first Sustainability Report aligned with TCFD recommendations.
• Established a Transition Committee to oversee the shift from refinery to import terminal operations.
• Integrated ESG performance into CEO's KPIs.

Climate Goals & Targets

Environmental Challenges

• Transitioning from refinery to import terminal operations, impacting workforce and community.
• Managing climate-related risks (physical and transition risks).
• Uncertainty in market signals (electric vehicle uptake, biofuel adoption, hydrogen use).
• Potential for climate-related litigation.
• Maintaining social license in the context of fossil fuel operations.

Mitigation Strategies

• Comprehensive Transition Support Programme for employees (retraining, job placement).
• Long-term agreements with customers for import terminal services.
• Proactive disclosure of climate-related risks and opportunities.
• Ongoing monitoring of climate change litigation.
• Engagement with investors, iwi, community, and other stakeholders.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Erosion

Transition Risks

• Carbon pricing
• Reduced fuel demand
• Policy uncertainty
• Market volatility

Opportunities

• Support for biofuels mandate
• Sustainable Aviation Fuel (SAF) production/storage
• Hydrogen production/storage
• New markets for low/zero carbon fuels

Reporting Standards

Frameworks Used: TCFD, GRI: Core Option

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 3 (Good Health and Well-being)
• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 13 (Climate Action)

Initiatives align with these goals through focus on employee wellbeing, emissions reduction, just transition, and responsible environmental management.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• NZ Workplace Health & Safety Awards (E Tū Tangata program)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Land, waste & water
• Health, safety & wellbeing
• Equity, diversity & inclusion
• Iwi & community partnerships
• Infrastructure resilience and security of supply
• Asset & lifecycle management
• Transparency & Financial discipline

Environmental Achievements

• Reduced Scope 1 & 2 emissions to 4,037 tCO2e in FY23 (from over 1.2 million tCO2e as a refinery)
• Sent over 1,099 tonnes of decommissioned metals for recycling in FY23
• Reduced water consumption by 73% from FY22, saving c.600,000 m3 of water

Social Achievements

• Supported 99% of people impacted by refinery closure into new opportunities within six months, exceeding the 90% target
• Achieved TRCF of 0.9 and LTIF of 0 per 200,000 hours worked in 2023 (2022: 1.8 TRCF, 0.77 LTIF)

Governance Achievements

• Completed first iteration of the terminal asset management plan
• Commissioned an additional 45 million litres of jet fuel storage, more than doubling on-site jet fuel storage

Climate Goals & Targets

Environmental Challenges

• Transition risks related to decarbonization of the transport sector
• Physical risks from climate change, including extreme weather events and coastal erosion
• Maintaining a safe and healthy workplace during a period of significant change

Mitigation Strategies

• Developed alternative sourcing strategies for fuels
• Implemented coastal erosion management strategies and invested in stormwater management systems
• Provided comprehensive support and transition assistance to employees
• Improved asset maintenance strategies to increase reliability of groundwater network

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Modern Slavery Policy

Climate-Related Risks & Opportunities

Physical Risks

• Coastal erosion
• Extreme weather events

Transition Risks

• Decarbonization of the transport sector
• Changes in fuel demand
• Government policies and regulations

Opportunities

• Increased demand for sustainable aviation fuel (SAF)
• Repurposing of Marsden Point site for green hydrogen and eSAF production
• Increased domestic stockholding/storage

Reporting Standards

Frameworks Used: GRI: Core Option, Aotearoa New Zealand Climate Standards (NZ CS)

Certifications: ISO 9001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 3
• SDG 5
• SDG 8
• SDG 9
• SDG 15

Initiatives contribute to these goals through various programs and policies related to health, safety, diversity, inclusion, economic growth, infrastructure, and environmental protection.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed