Orica, the Australian mining solutions provider, has been recognized for its leadership in sustainability with the company taking out two major categories at the 2024 Australian Financial Review Sustainability Leaders Awards. It took the top position in the category Resources, Energy and Utilities, along with being awarded the Overall Winner for Impact.
Sustainability Efforts Win Accolades
The AFR “Sustainability Leaders” list is a festival of companies across multiple industries fighting challenges to sustainability but achieving business success. Measured is each company based on its environmental impact and alignment with business goals in the process of assessment.
Orica stands out for responsible development in the high-emission-producing industries. Its process is guided by UN SDGs, and innovative low-carbon technologies have been introduced at their Kooragang Island ammonium nitrate plant in Australia. This work minimizes their environmental impact while supporting their customers in achieving their respective targets on sustainability.
Kooragang Island Decarbonisation Project
Undoubtedly, one of the lead initiatives within the umbrella of the Orica site decarbonization plan is the Kooragang Island Decarbonisation Project. The investment was made jointly by Orica, the NSW Government, and the Clean Energy Finance Corporation, with this initiative amounting to $37 million. Completed in 2023, these works included the installation of Australia’s first tertiary catalyst abatement technology across three nitric acid plants. This technology will reduce site emissions by approximately 45%, taking out nearly 11% of total Australia chemical industry emissions—making it one of the largest industrial decarbonization projects in the country.
In addition to these environmental benefits, more than $12 million has been injected into the Hunter Valley economy, and the reliable production of important products is ensured for a number of sectors.
Continued Commitment to Sustainability
The Kooragang Island site is not going to be the only site receiving this proven technology. Orica is planning to install the same technology at its Yarwun facility this year. This once again demonstrates Orica’s very aggressive climate targets of reducing net operational emissions by 45 percent by 2030 and reaching net zero emissions by 2050 at the latest.
The recognition by AFR and continuous investment in sustainable technologies underline Orica’s quest to put the twin goals of economic growth and environment stewardship in perfect sync. Their example, therefore, shows that high levels of sustainability can be achieved with business success.
Future Plans
Building on the momentum of the Kooragang Island project, Orica’s future plans are for massive scale-ups in the application of tried and tested technologies that will further reduce emissions and foster sustainable development. These make up a portion of Orica’s grander aspirations to be an industry leader in environmental stewardship and innovation.
Conclusion
Orica being one of the AFR Sustainability Leaders Awardees shows the position the company takes towards sustainability leadership within the resources, energy, and utilities sectors. The company’s hinterland of projects that are based on innovation and reducing emissions setting goals reflects an industry-wide trend towards sustainable development and responsible business practices.
Source: Orica