Australian companies lead on emissions reduction transparency

Eleven of Australia’s largest companies, including Coles and Woodside, have all expressed strong interest in participating in the Government’s new Corporate Emissions Reduction Transparency (CERT) report, which launches today.

The CERT report is a simple reporting framework for companies to publicly present their emissions reduction commitments, and progress, in a clear and consistent way. Some aspects of progress will be validated against data held by the Clean Energy Regulator. Companies can access the guidelines for an initial pilot of the CERT report from today to make a final decision on opting in.

Chair of the Clean Energy Regulator, David Parker said it was exciting that 11 of Australia’s largest companies, representing a wide range of sectors, told us they’re keen to participate in the CERT report, even ahead of today’s launch.

“There are growing expectations by investors, regulators, supply chains and customers for greater accountability and transparency around how companies are addressing climate-related risks,” Mr Parker said.

“The CERT report is a practical way to help companies showcase their achievements. By improving access to high quality emissions and renewable electricity information, and by using trusted data to validate aspects of progress, the CERT report will give a clearer picture of actions companies are taking to reduce their net emissions.

“Companies that participate in the CERT report will be viewed as leading the way. I encourage all eligible companies to opt into CERT report and demonstrate their commitment to transparency.”

Mr Parker said the report had been co-designed with broad range of stakeholders, including industry. He also highlighted that the CERT report has benefited from wide consultation, ensuring that it provides a useful contribution to corporate sustainability reporting and will support participating companies’ climate-related disclosures.

“Importantly, the CERT report offers companies the chance to report their net emissions position, in addition to their gross emissions for the relevant reporting period, providing a fuller picture of their emissions profile.

“The CERT report can also help them report under popular international frameworks, such as the Task Force on Climate-related Financial Disclosures, in a more standardised way.

“Over time, we expect that the CERT report will aid comparisons with peers and give insights on how the private sector is engaging with the voluntary carbon market,” Mr Parker said.

Participation is voluntary and simple. The CERT report is open to all National Greenhouse and Energy Reporting companies that report more than 50 kilotonnes of emissions a year.

Interested companies have until 30 January 2022 to make a final decision on opting into the CERT report.

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