3rd October 2024
Port of Newcastle has increased its GRESB score to 97/100 and has maintained its coveted 5-star rating for a fourth consecutive year.
Port of Newcastle has further improved its strong coveted Global Real Estate Sustainability Benchmark (GRESB) score and maintained its 5-star GRESB rating for a fourth consecutive year, with a focus on decarbonising its operations, and increasing engagement with industry and employees.
The result included a score of 100% in climate change reporting, scenario analysis, and risk and opportunity identification. Port of Newcastle CEO, Craig Carmody, said the result is a remarkable achievement.
"A GRESB score of 97 shows Port of Newcastle's commitment to continuously improving sustainability, and I'm incredibly proud of the efforts of every member of the PON team. ESG (environmental, social, and governance) is embedded as a core principle across our business and our culture, and this is evidenced through this year's result.
"Port of Newcastle is delivering on a significant diversification strategy to create the Port for the future. Central to this is our Clean Energy Precinct, which will position us as a leading production, storage and export hub for future sustainable, clean energy products and technologies, including hydrogen and green ammonia.
"Our Port handles over 25 different types of cargoes and trade volumes across a number of export commodities like wheat, meals, and grains exports, and increased roll-on-roll-off project cargo, including wind turbine components, have been strong this year," he said.
The 5-star GRESB rating is reserved for the top 20% of surveyed companies globally, and formally recognises industry leaders in sustainability. Craig Carmody said Port of Newcastle identified several improvement areas in this year's assessment period, including climate change.
"It's a great result to have achieved 100% in climate change reporting and scenario analysis, but we won't stop striving to improve. We aim to undertake annual financial analysis relating to climate change risks and opportunities, and improving governance around management of climate change and transition risk.
"This year, we increased our efforts to decarbonise our operations, improved our ESG reporting and transparency, and added or improved policies to increase focus on sustainability and governance," Mr Carmody said.
Port of Newcastle's recent GRESB score also reflects its commitment to creating a diverse and inclusive workplace.
"Our expanded delivery of health and wellbeing initiatives to support our people, including our WORK180 endorsement, flexible work arrangements, and career development opportunities make us an employer of choice in our region," Mr Carmody said.
GRESB is a world-leading leading ESG benchmarking tool, which provides insight into an organisation's ESG performance over time and compared to its industry peers. Port of Newcastle has committed to undertaking GRESB benchmarking annually, with its target- driven ESG Strategy setting out a commitment to Net Zero by 2040.