Emissions Reduction Plan

The Australian Prudential Regulation Authority’s (APRA) Emissions Reduction plan has been prepared in accordance with the reporting requirements under the Public Governance, Performance and Accountability Act 2013 (PGPA Act) and s516A of the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).

The Australian Government released the Net Zero in Government Operations Strategy in November 2023, setting out the overall approach and action required by Commonwealth entities to achieve the APS Net Zero 2030 target.

The Net Zero in Government Operations Strategy represents a commitment by the Australian Government to lead by example on emissions reduction and contribute to the decarbonisation of Australia’s economy.

APRA is following the APS Net Zero 2030 target in full, as per the Net Zero in Government Operations Strategy.
This Emissions Reduction Plan describes the priorities and actions APRA is taking to reduce our operational emissions and contribute to the APS Net Zero 2030 target.

Foreword
 

APRA has developed a road map to achieve Net Zero status by 30 June 2030. This plan, which will be released in the 2024-2025 financial year, contains initiatives to be rolled out progressively over the next four years.

APRA’s Emissions Reduction Plan sets an emissions baseline, based upon emissions reported for the 2022-23 financial year. The report outlines APRA’s priority areas of focus to reduce our operational emissions and contribute to the APS Net Zero 2030 target.

In addition to the information contained in this report, APRA reports on greenhouse gas emissions in the APRA Annual Report.

John Lonsdale
Chair 
Australian Prudential Regulation Authority

Emissions Reduction Plan

Purpose

APRA is responsible for managing and implementing emissions reduction initiatives set by the Australian Government’s Net Zero in Government Operations Strategy (the Strategy) developed by Department of Finance. The Strategy sets out the Australian Government’s approach to achieving net zero greenhouse gas emissions from its operations by 2030 and the reinstatement of public emissions reporting.

The goal of this Emissions Reduction Plan is to provide APRA’s baseline emissions as at 30 June 2023 and advise the pathway for APRA to contribute to the achievement of the APS Net Zero 2030 target through emissions reduction activities. This plan encompasses existing and new priorities and actions within APRA to reduce emissions.

This Emissions Reduction Plan has been completed in accordance with the Strategy, associated guidance and reporting standards for annual emissions reporting.

Net zero greenhouse gas emissions

APS Net Zero 2030 is the target set by the Australian Government to achieve net zero greenhouse gas emissions from government operations by the year 2030. It includes Scope 1 and Scope 2 emissions from activities in Australia and its territories, as described in the Strategy. The APS Net Zero 2030 target applies at the aggregate level to non-corporate Commonwealth entities and covers the entirety of the entity’s organisation. From an organisational perspective, this means that APRA must minimise the greenhouse gas emissions that are within our control.

Governance and reporting

Progress against actions identified within this Emissions Reduction Plan, and any additional measures adopted will be included in our annual reports. This, combined with annual emissions reporting, will be used as a measure of APRA’s progress towards reducing its emissions.

As part of the Net Zero in Government Operations Annual Progress Report, the Department of Finance will aggregate these measures to provide whole-of-Australian Government emissions reporting.

APRA’s Operational context

APRA has office premises in five locations nationally: Sydney, Melbourne, Brisbane, Adelaide and Canberra totalling 8,134.40 square metres at end of June 2023. The total number of employees was 871 as at 30 June 2023. At the end of September 2024 APRA Melbourne office is moving to a new site with an improved National Australian Built Environment Rating System (NABERS) rating.

APRA does not operate a car fleet or rent permanent car spaces. APRA stores all data at two secure offsite datacentres that host the critical APRA infrastructure.

Baseline emissions

Baseline emissions are a record of greenhouse gases that have been produced in the past and were produced prior to the introduction of any strategies to reduce emissions. The baseline emissions from financial year 2022-23 are the reference point against which emissions reduction actions can be measured.

The baseline emissions for this plan focus on Scope 1 and Scope 2 emissions, consistent with the APS Net Zero 2030 target. Electricity-related emissions were calculated using the location-based method. The complete 2022-23 greenhouse gas emissions inventory tables for APRA are presented in our 2022-23 annual report.

Table 1 APRA’s Baseline Carbon Emissions Scope 1 and 2

Engagement

In the development of this plan APRA has been working with:

• Department of Finance
  • Climate Action in Government Operations – to ensure that this plan aligns with the Net Zero in Government Operations Strategy and the Commonwealth Climate Disclosure requirements.
     
  • Travel Team – to discuss options and considerations for lowering travel emissions.
     
• Building owners or their nominated representatives – to manage and engage on the National Australian Built Environment Rating System (NABERS).

Emissions reduction targets

APRA is following the APS Net Zero 2030 target in full, as set out in the Net Zero in Government Operations Strategy. The target covers the entirety of APRA’s operations within Australia and its territories for Scope 1 and Scope 2 emissions, as described in the Strategy.

Priorities and actions