Science Based Targets

The Science Based Targets initiative (SBTi), is a global body supporting businesses to set emissions reduction targets in line with the climate science. Recently the Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report released in August 2021 sent a clear message about the latest climate science: “Global warming of 1.5°C and 2°C will be exceeded during the 21st century unless deep reductions in carbon dioxide (CO2) and other greenhouse gas emissions occur in the coming decades.”

In 2020 GeelongPort became the first port in Australia to make a voluntary commitment to the SBTi in September 2020. The current validated SBTi target is to reduce our scope 1 and scope 2 greenhouse gas emissions by 50% by 2030 from a 2018 base year, and to measure and reduce our scope 3 emissions.

We surpassed our Scope 1 and 2 target ahead of schedule. In December 2024 we revised our targets and are engaging with SBTi to seek validation for our new targets:

Scopes 1 and 2: Net zero by 2030

Scope 3: By the end of 2030 customers, suppliers and/or tenants responsible for at least 67% of targeted scope 3 emissions have their own near-term target aligned to the latest climate science.

We acknowledge our responsibility in providing and promoting a sustainable environment for all employees, contractors, customers, port users, visitors and members of the public.

GeelongPort is proud to be joining more than 1,000 companies worldwide who are leading the zero-carbon transition by setting emissions reduction targets through the Science Based Targets initiative.