PORT of Brisbane received a 5-star GRESB rating for the second year running.
GRESB is a globally recognised assessment that evaluates ESG performance and sustainability best practices for real estate and infrastructure funds, companies and assets worldwide.
PBPL was also the highest ranked port company in the “Other Port: maintenance and operation” category, and its overall score reached 89/100 (an improvement from 87/100 in 2019-20).
PBPL CFO and Interim CEO Neil Stephens said the Port of Brisbane was proud of the outcome, which reflected the company’s continued progress and commitment to its sustainability program.
“We recognise that achieving sustainable growth for the Port of Brisbane requires us to put sustainability at the heart of what we do – our day-to-day operations, planning and projects,” said Mr Stephens said.
“That’s why, from July 2021, we put our sustainability program at the core of our business strategy. We took this step because we believe it’s the right strategy to support our company’s sustainable growth and to deliver long-term benefits for our customers and the broader community.
“We’ve made great progress in delivering on our sustainability program this year and we’re continuing to work with our customers and partners on many leading initiatives for the ports and logistics sector.
“This ranking and global recognition gives us great confidence that our strategy is enabling the business to respond in a responsible, balanced and sustainable way, and delivering positive outcomes for our business, our customers and stakeholders, and the broader community.”
In a statement the port outlined key sustainability initiatives that are delivered or underway:
Climate change management and reporting – Climate change risk assessments were undertaken to identify potential transition and physical risks (short and long-term) to the Port of Brisbane. The impacts of climate change were considered within the local context using local modelling predictions, with three emissions scenarios (low, medium and high) used for the assessment. This year, PBPL published its first Climate Change Disclosures Report aligning to the Financial Stability Board’s recommendations on the Task Force on Climate-related Financial Disclosures (TCFD) – the first Australian port to do so.
Energy Transition Plan – Provides a framework to assist PBPL in reducing carbon emissions to ‘net zero’ by reducing the use of carbon intensive electricity and fuels through new technologies including renewables, energy storage, zero emission fuels. PBPL has committed to achieving ‘net zero’ emissions by 2030. This year, PBPL’s solar power generation increased 299%.
Target Zero – Commitment to achieving zero waste to landfill and net positive water by 2030. This year, 41% of PBPL-generated waste was recycled.
Virtual Energy Network – The VEN concept seeks to virtually distribute power generated from local solar installations to other local sites, netting energy production against energy consumption. This initiative is part of our work to help transition PBPL from grid-supplied energy to locally produced renewable energy.
Reconciliation Action Plan – Launched in 2020-21 with endorsement from Reconciliation Australia.
