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- Strike Energy (STX) has committed to net zero emissions by 2030 as the need for more sustainable industries continues to grow
- The target applies initially to Scope 1 and 2 emissions — those either produced directly by Strike, or which come from secondary processes
- All of these emissions will be offset by Project Haber — a fertiliser production facility near Geraldton, Western Australia
- The company said it would then look to reducing Scope 3 emissions — carbon output that comes from sources beyond the company’s control
- Shares in Strike Energy are currently steady at $0.37
Strike Energy (STX) has committed to net zero emissions by 2030 as the need for more sustainable industries continues to grow.
The Perth-based company said it “aspires to drive the energy transition for Western Australia” using a ground-up approach that focuses on domestic manufacturing of otherwise energy-intensive products as well as renewable power.
The target applies initially to Scope 1 and 2 emissions — those either produced directly by Strike, or which come from secondary processes, like the purchase of electricity.
At the core of Strike’s operations is the Greater Erregulla Gas Project, which has been targeted for first gas production by early 2023. An initial phase of development is anticipated to emit 48,000 tonnes of carbon dioxide equivalent each year, while market-based offsets will be acquired until around 2025.
A second phase will include domestic gas sales and will result in an extra 180,000 tonnes of carbon dioxide annually.
All of these emissions, Strike says, will be offset by Project Haber — a fertiliser production facility near Geraldton, Western Australia. The project will be capable of reducing carbon dioxide emissions by between 650,000 and 795,000 tonnes each year, according to a report by advisory firm ACIL Allen.
“Should the company achieve success through its Mid-West Geothermal Project, it would possess sufficient offsets to meet its aspirations of being Australia’s first net zero energy company across all of its Scope 1, 2 and 3 emissions,” said CEO and Managing Director Stuart Nicholls.
“This will create additional value as our net zero emissions energy attracts premium pricing from industrial energy consumers who are making their own transition to a lower carbon future.”
Strike added that those reductions in Scope 3 emissions — carbon output that comes from sources beyond the company’s control — are likely to take longer than the others, and as a result has not yet set a net zero target for the category.
Its Board of Directors said the target is a core part of the company’s identity, and will therefore implement short-, medium- and long-term remuneration targets to bolster the pursuit of net zero emissions.
Shares in Strike Energy are currently steady at $0.37 as of 10:40 am AEST.
