“complement” the conversations Origin has been having with its shareholders and stakeholders regarding the risks as well as opportunities presented to its business by the global climate crisis. “In addition, Origin continues to progress work on the development of more ambitious emissions reduction targets consistent with a 1.5-degree pathway,” he said.
The company says it plans to reduce its direct carbon emissions by 10 per cent over the next two years, from the 2017 baseline, with the aim of reaching carbon neutrality by mid-century. However, environmental groups point out that Origin’s plans to explore oil and gas in several locations in the Northern Territory, as well as Western Australia, are “inconsistent” with its carbon emission goals.
“Put simply, Origin’s oil and gas expansion does not align with any of its commitments on climate,” Dan Gocher, director of climate and environment at the Australasian Centre for Corporate Responsibility, said.
The discussion comes ahead of the latest report expected to be issued by the UN Intergovernmental Panel on Climate Change next week, which will show that by 2030, global temperatures will breach the 1.5°C mark, a decade earlier than expected three years ago.
