Snowy Hydro releases 2023 Sustainability report

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The 2023 Sustainability report released by Snowy Hydro highlights environmental responsibility, community support, and clean, sustainable energy solutions.

Snowy Hydro has released its 2023 Sustainability Report, underscoring the company’s commitment to environmental responsibility, community support, and the ongoing pursuit of clean, sustainable energy solutions.

The report outlines Snowy Hydro’s Sustainability Program, which aligns with the company’s integral role in Australia’s renewable energy future. It highlights three prioritised sustainability opportunities for 2023-24:

  • Understanding and mitigating risks associated with climate change 
  • Emissions reduction and facilitating the decarbonisation of the National Electricity Market (NEM) 
  • Strengthening relationships with Traditional Owners and communities where we operate

Snowy Hydro is a major contributor to the reshaping of the NEM to support the transition to a cleaner, low-carbon economy. The company aims to be a driver and enabler of least-cost NEM decarbonisation. 

Snowy Hydro CEO Dennis Barnes said reliability, security of supply, and supporting a sustainable transition would remain the central considerations behind how the company operates, develops and maintains its nationally critical infrastructure.

“As Australia undergoes significant changes in its energy markets, Snowy Hydro remains steadfast in its commitment to delivering clean, sustainable, and affordable energy, contributing to a brighter and more sustainable future for all,” Mr Barnes said.  

“We are already reducing our low emissions intensity profile by investing in new generation technology and materially increased renewable capacity. 

“Investments in the Snowy 2.0 and Hunter Power Projects, the Renewable Energy Procurement Program, and the development of green hydrogen capability directly support that purpose.”

Mr Barnes said energy purchased through Snowy’s wind and solar offtakes continued to grow. The offtakes will deliver approximately 5,200 GWh annually and exceed Snowy Hydro’s expected long-term hydroelectric generation.

The new wind and solar generation Snowy Hydro is enabling will displace more than 33 million tonnes of CO2 per annum. This equates to a 28% reduction in NEM emissions from 2022 levels and approximately 13% of Australia’s total emissions reduction target for 2030.

Snowy Hydro has developed and sold products within a new environmentally-focused product class for its commercial and industrial customers, which includes some of Australia’s largest shopping centres, universities, banks and property managers.

The 2023 Sustainability Report outlines the commitment to supporting local communities through employment, education and environmental responsibility. Snowy Hydro actively fosters diversity and inclusion, aiming to increase female representation in the workforce (currently at 42.5%), particularly at senior levels.

Snowy Hydro has a long history of supporting the local communities in which it operates. This includes partnerships and sponsorships with not-for-profit organisations, community grants programs, contributing to local infrastructure, and economic investment in communities.

Click here to read the Snowy Hydro 2023 Sustainability Report.

Source: © Snowy Hydro Limited 2024.

Image Source: © Snowy Hydro Limited 2024.

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