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Port of Newcastle - Steering the shipping industry towards climate action

Port of Newcastle (PON) is Australia's deep-water global gateway, the largest on the nation's East Coast. It is more than a port, it exists to build Australia's prosperity with responsible, integrated and innovative supply chain solutions.

About Port Of Newcastle

PON's vision is to become Australia's first-choice East Coast port, able to accommodate, attract and grow a diverse trade base in an efficient, sustainable and innovative manner.

With trade worth about $37 billion to the national economy each year, PON enables Australian businesses to successfully compete in international markets.

The port currently handles over 4,600 ship movements and 166 million tonne's of cargo annually. With a deep-water shipping channel operating at 50% of its capacity, significant port land available and enviable access to national rail and road infrastructure, PON is positioned to further underpin the future prosperity of the Hunter, NSW and Australia.

By becoming the first port in Australia or New Zealand to commit to meeting the global environment and sustainability standard set by EcoPorts and through setting a Science Based Target below 1.5 degrees and developing a Net Zero by 2040 strategy, The Port of Newcastle is leading the shipping industry to a more sustainable future, both within Australia and abroad, driving the principles of sustainability throughout its operations, internal culture and the way it engages with customers and communities

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"As the worlds largest export coal port, we know that diversification is not an option, it's a must and key to developing sustainably. Ensuring we manage this effectively we partner with consultancies like South Pole to ensure we are implementing sustainable strategies in a meaningful and efficient manner."

Matthew Stephenson, Senior Manager Investor Relations and ESG

Work with South Pole

Recognising the role that hard-to-abate companies and sectors have in mitigating climate change both within and beyond their own value chains, Port of Newcastle looked to understand how they could actively participate in the voluntary carbon market. With the market evolving rapidly, the Port appointed South Pole to help it develop a forward-looking carbon compensation strategy. The report provided by South Pole covered the current demand and supply drivers of carbon credits and the role that credits could play in the company's climate action strategy, driving decarbonisation efforts on the way to its 2040 net zero target.

In conjunction with this report, South Pole also developed a bespoke vessel incentive scheme tool to provide Port of Newcastle with valuable emissions data and support their journey to net zero. This tool allows the Port to calculate the greenhouse gas emissions of each vessel within the boundary of the port in line with leading global carbon accounting standards. Integrating this tool within their business operations allows the Port of Newcastle to incentivise ship owners to improve their energy efficiency and reduce carbon footprint, helping the Port to reduce their scope 3 emissions.

South Pole's Climate Solutions specialists were able to provide tailored insights into the role the Port of Newcastle could play in diversifying carbon markets and in helping shape sustainability within the shipping industry, furthering their climate journey and strengthening their position as a sustainability leader.

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