Climate Change Data

Carnegie Clean Energy Limited

Climate Impact & Sustainability Data (2019, 2021, 2022, 2023, 2024)

Reporting Period: 2019

Environmental Metrics

ESG Focus Areas

  • Climate Change
  • Environmental Sustainability

Environmental Achievements

  • Garden Island Microgrid commenced operations, producing clean renewable energy for HMAS Stirling.

Social Achievements

  • Partial sale of interest in Northam Solar Farm to Indigenous Business Australia.

Governance Achievements

  • Adopted the 4th Edition of Corporate Governance Policies and Procedures.

Climate Goals & Targets

Long-term Goals:
  • Generate shareholder value through royalty or license agreements in respect to the CETO Technology.
Medium-term Goals:
  • Pursue a partnership with an OEM or commercial partners to decrease the costs of producing CETO Units within the next two years.
  • Identify and engage with utility-scale partners to construct and/or utilize CETO Units on a commercial scale in the next two to three years.
Short-term Goals:
  • Construct a complete virtual prototype CETO Unit within the next 18 months.

Environmental Challenges

  • Unsatisfactory financial performance of the EMC Business.
  • Difficulties in obtaining additional capital.
  • Termination of funding agreement with DPIRD for the Albany Wave Energy Project.
  • Company placed into voluntary administration.
Mitigation Strategies
  • Recapitalization proposal and successful capital raising of $5.5 million.
  • Restructuring plan accepted by creditors.
  • Shift to a less capital-intensive digital development approach for CETO technology.
  • Focus shifted to licensing and royalty agreements for CETO technology.

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities
  • Contribution to the reduction in harmful emissions.

Reporting Standards

Frameworks Used: ASX Corporate Governance Councils' Corporate Governance Principles and Recommendations (4th Edition)

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 13 (Climate action)

Sustainable Products & Innovation

  • CETO wave energy technology

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:2000 tonnes CO2 avoided (Garden Island Microgrid)

ESG Focus Areas

  • Sustainability
  • Decarbonisation
  • Blue Economy

Environmental Achievements

  • Garden Island Microgrid produced over 3 GWh, avoiding over 2,000 tonnes of CO2

Social Achievements

  • Blue Economy CRC Mooring Tensioner Project
  • Hewlett Packard Enterprise Collaboration Agreement
  • Microsoft AI for Earth grant

Governance Achievements

  • Achieved debt-free status

Climate Goals & Targets

Environmental Challenges

  • Competition from solar and wind energy
  • Competition from other wave energy companies for funding and commercialization partners
  • Pandemic impacted ability to secure specialized people and resources
Mitigation Strategies
  • Developing commercial plans and resources to address future needs
  • Securing external funding to offset near-term requirements for shareholder funds
  • Developing new spin-off products and technologies

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

  • CETO wave energy technology
  • MoorPower wave energy system
  • Wave Predictor

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Renewable Energy

Environmental Achievements

  • Achieved step-change improvement in CETO's cost and performance, resulting in the new Product Validation Roadmap
  • CETO awarded Phase 1 and Phase 2 contracts in competitive EuropeWave PCP €22.5m Programme
  • Funded $3.4m MoorPower Scaled Demonstrator Project underway, designed to secure clean energy for offshore structures

Social Achievements

  • Continued collaboration with world-class partners – HPE, Hutchinson, Microsoft, EuropeWave, Blue Economy CRC
  • Revenue generation from Government (Defence) electrical supply contract at 100% owned Garden Island Microgrid energy project

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Not disclosed
Mitigation Strategies
  • Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • 7 (Affordable and Clean Energy), 13 (Climate Action)

Carnegie's wave energy technology contributes to these goals by providing a clean and sustainable source of energy.

Sustainable Products & Innovation

  • CETO, MoorPower, Wave Predictor, Mooring Tensioner

Awards & Recognition

  • Not disclosed

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Renewable Energy

Environmental Achievements

  • circa 900 tonnes of carbon equivalent avoided per annum at Garden Island Microgrid

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Formation of new MoorPower commercial scale project
  • Deployment of grid-connected CETO unit in Basque Country (EuropeWave)
Short-term Goals:
  • MoorPower scaled demonstrator final assembly and commissioning, deployment and operation
  • EuropeWave: finalising detailed design, forming contracts with suppliers, ordering components

Environmental Challenges

  • Delays in MoorPower due to component challenges
  • Storm damage to Garden Island panels
  • Outages/disturbances on Defence network at Garden Island
Mitigation Strategies
  • Barge structural upgrades and additions for MoorPower
  • Replacement of faulty panels at Garden Island (supported by insurance and supplier payment)
  • Steady improvement in uptime at Garden Island

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • CETO wave energy technology

Awards & Recognition

  • Not disclosed

Reporting Period: 2024

Environmental Metrics

ESG Focus Areas

  • Climate Action
  • Clean Water and Sanitation
  • Affordable and Clean Energy
  • Decent Work and Economic Growth
  • Industry, Innovation, and Infrastructure
  • Sustainable Cities and Communities
  • Responsible Consumption and Production
  • Life Below Water
  • Partnerships for the Goals

Environmental Achievements

  • Exceeded 5,000 tonnes of carbon emissions avoidance from Garden Island Microgrid

Social Achievements

  • LinkedIn followers increased by 24% (2,692 new followers)

Governance Achievements

  • Annual General Meeting (AGM) held on November 14, 2023, all resolutions passed
  • Share Purchase Plan (SPP) completed, raising $2.134 million
  • Dual listing on US OTCQB Market achieved

Climate Goals & Targets

Medium-term Goals:
  • Progress to work towards securing funding to deliver the next phase of the MoorPower technology roadmap, a commercial prototype on an operating barge.
Short-term Goals:
  • Use the European deployment of CETO through the ACHIEVE Programme to attract a partner to drive development of future projects, including a first array project.

Environmental Challenges

  • Reluctance of governments and agencies to take a long-term view on ocean energy support
  • Mature technologies potentially taking a larger share of available support
  • Risks in finalising design and securing supply of critical components for CETO and MoorPower
  • Risks related to assembly, deployment, and operation of CETO unit at BiMEP
  • Risks related to securing and delivering the commercial MoorPower prototype on an operating barge
Mitigation Strategies
  • Securing continued support via the EuropeWave program for CETO
  • Securing additional support through the Spanish Government (€1.2m) and Basque Energy Agency (€2.1m) for ACHIEVE Programme
  • Deploying MoorPower scaled demonstrator to build customer confidence
  • Working with project partners, Huon and Tassal, and the Blue Economy CRC to secure funding for MoorPower commercial prototype

Supply Chain Management

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

  • SDG 6
  • SDG 7
  • SDG 8
  • SDG 9
  • SDG 11
  • SDG 12
  • SDG 13
  • SDG 14
  • SDG 17

The report details how Carnegie's wave energy technologies contribute to these goals through clean energy generation, economic growth, job creation, and environmental protection.

Sustainable Products & Innovation

  • CETO Wave Energy Technology
  • MoorPower Wave Energy Technology