Powerco Limited

Powerco Limited's Climate Commitments and Emissions Profile (NZ)

Powerco Limited, an electricity distribution and trade services company based in New Zealand, is committed to achieving net-zero emissions by 2030. This commitment encompasses both Scope 1 and Scope 2 emissions, with a strategy that includes reducing emissions and offsetting any unavoidable emissions, for example, through forestry initiatives.

For the fiscal year 2023, Powerco reported a total of approximately 121.5 billion kg CO2e. This breaks down into:

• Scope 1 emissions: Approximately 7.61 billion kg CO2e, primarily driven by fugitive emissions (about 6.86 billion kg CO2e) from the gas network pipeline, along with contributions from stationary and mobile combustion.
• Scope 2 emissions: Approximately 32.27 billion kg CO2e, largely attributed to purchased electricity.
• Scope 3 emissions: Approximately 244.74 billion kg CO2e, with significant contributions from purchased goods and services (about 75.08 billion kg CO2e), followed by employee commuting and business travel.

In the fiscal year 2022, the company's total emissions were approximately 111.81 billion kg CO2e. This included about 8.02 billion kg CO2e for Scope 1 emissions, driven by fugitive emissions (approximately 7.12 billion kg CO2e), and approximately 27.98 billion kg CO2e for Scope 2 emissions. Scope 3 emissions for FY2022 totalled approximately 75.82 billion kg CO2e, with purchased goods and services accounting for the largest portion (around 69.81 billion kg CO2e).

Prior to that, in fiscal year 2021, Powerco reported total emissions of approximately 115.90 billion kg CO2e. Scope 1 emissions amounted to roughly 7.93 billion kg CO2e, with fugitive emissions at about 7.25 billion kg CO2e. Scope 2 emissions were approximately 28.19 billion kg CO2e, and Scope 3 emissions totalled about 79.79 billion kg CO2e, with purchased goods and services being the largest contributor (around 74.36 billion kg CO2e).

Powerco's emissions data for the fiscal year 2024 is not yet available. The company's emissions reporting includes disclosures for Scope 1, 2, and 3 emissions.