Orica Leads in Decarbonisation, Wins Sustainability Award
Key Takeaway Points
- Recognised in the 2024 Australian Financial Review Sustainability Leaders awards.
- Won in Resources, Energy, and Utilities; named Overall Winner for Impact.
- Part of the AFR list celebrating companies tackling sustainability.
- Guided by the UN Sustainable Development Goals.
- $37 million project at Kooragang Island to reduce emissions by 45%.
- Injected over $12 million into the Hunter Valley economy.
Australian mining solutions provider Orica has been recognised for its leadership in sustainability, winning two major categories in the 2024 Australian Financial Review (AFR) Sustainability Leaders Awards.
Orica claimed the top spot in both the Resources, Energy, and Utilities category and the overall Impact award.
The AFR's "Sustainability Leaders" list recognises Australian companies across industries tackling sustainability challenges while achieving business success. A rigorous assessment process evaluates each company's environmental impact and its alignment with business goals.
Operating in a sector known for high emissions, Orica stands out for its commitment to responsible development. Inspired by the UN Sustainable Development Goals (SDGs), Orica has implemented innovative low-carbon technologies at its Kooragang Island ammonium nitrate plant in Australia. They also offer sustainable solutions to their customers, helping them achieve their own sustainability targets.
Through dedication, innovative practices, and partnerships, Orica has played a larger role in environmental responsibility while creating value for stakeholders. The AFR panel, working with Boston Consulting Group (BCG), acknowledged Orica's impactful initiatives.
Orica's Kooragang Island Decarbonisation Project: A Game Changer
The Kooragang Island Decarbonisation Project, a $37 million joint investment by Orica, the NSW Government, and the Clean Energy Finance Corporation, represents a major step forward.
Completed in 2023, the project involved installing Australia's first tertiary catalyst abatement technology across three nitric acid plants. This technology will slash site emissions by an estimated 45% and contribute to an 11% reduction in Australia's total chemical industry emissions – one of the largest industrial decarbonisation projects in the country.
The project also benefits the local economy, injecting over $12 million into the Hunter Valley and ensuring reliable production of critical products for various sectors.
Orica's Sustainability Journey Continues
Orica’s President - Australia Pacific and Sustainability Germán Morales says: “We are exceptionally proud to receive these awards. They are an acknowledgement of our team's ongoing commitment to sustainability and many years of collaboration across Orica, Government and partners. We have been able to demonstrate that economic growth and environmental stewardship can go hand in hand and together, we are shaping a more sustainable future.
"Now, as we continue our decarbonisation efforts, we will focus on installing the same proven technology at our Yarwun facility this year. This will help to deliver against Orica’s accelerated climate targets to reduce net operational Scope 1 and 2 emissions by at least 45 per cent by 2030, from 2019 levels and is a further step towards achieving our ambition of net zero emissions by latest 2050.”
Building on this success, Orica plans to install the same technology at its Yarwun facility this year. This aligns with their ambitious climate targets of a 45% reduction in net operational emissions by 2030 and achieving net zero emissions by 2050 at the latest.
For more information on Orica's sustainability efforts, visit orica.com/sustainability
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Source: Orica
