List of Australia’s top energy companies adopting new energy products

Australia is one of the top producers of Coal. Uranium and Liquified Natural Gas (LNG). The country is transitioning to better alternatives to meet its energy requirements, such as shifting gears from using traditional fuels to natural gas as the transition fuel to greener alternatives. 

This development has caused the production of natural gas to remain tight on the east coast, and that has led to increased dependency on energy resource imports from other nations. Despite lowering its carbon Footprint Australia still has to do a lot more to achieve carbon neutrality. 

Australian companies are playing a pivotal role in reducing the carbon burden. 

Big companies like Woodside Energy (WDS) are leading the push in low carbon energy production by taking fundamental care about following Sustainable Development Goals (SDG) proposed by the United Nations (UN). Here are some of the top energy companies in Australia and their steps to enhance the use of greener alternatives.

Hydrogen molecule along with a blue background

(Source: www.pexels.com)

Top Australian Energy Companies Shifting Towards Green Energy

Australian Energy companies are very poised to know the needs of the time, i.e., the importance of green energy use. This list is curated sequentially in terms of market cap of companies, and their various initiatives in reducing emissions and transitioning to cleaner energy. 

Woodside Energy Group Limited (ASX: WDS)

Woodside Energy (ASX: WDS) is the largest Australian energy company worth a whooping AUD 59.5 billion. Being the largest, it has more responsibility on its shoulders to become a beacon of guiding light in using greener alternatives. 

The company has plans to invest USD 5 billion in new energy products and plans to significantly lower emissions by 2030. With new technologies, the company plans to use cleaner fuels such as ammonia and hydrogen to produce and power their plants.

Keeping the UN Sustainable Development Goals (SDGs) in mind, Woodside aspires to be amongst the leading names for net zero emissions by 2050. The company has a big solar farm in Western Australia, it has invested in Carbon Capture Storage (CCS) spaces where carbon can be stored, It also plans to make more Carbon Capture and Utilization (CCU) stations where emissions could be converted to proteins and fuels. A total of USD 100 million has already been invested by the company in new energy products.

Santos Limited (ASX: STO)

Santos (ASX: STO) is another large energy company in Australia amounting to a market cap. of AUD 24.7 billion. Santos’s efforts to pave a future to a greener low carbon world is realised through its annual climate change report where the company talks about setting reduction targets. 

From 2018 this report has been a key highlight to its achievements in paving the way for green energy It coincides with SDGs goals 7 and 13 and lends a critical lens to climate change and affordable clean energy. Its report fulfils the G20’s Task Force recommendation on Climate-related Financial Disclosures (TCFD). 

As per the latest 2022 report, Santos has already lowered its emissions as per its target of 2025. Its Moomba CCS plant is 40% complete and the plant can filter carbon out of the air. A total of AUD 100 million has already been invested in new energy.

Wind Turbines in Wind Energy Power Pant
(Source: www.pexels.com)

Ampol Limited (ASX: ALD)

Ampol (ASX: ALD) is the third largest energy company by market size in Australia. It is worth AUD 8.7 billion. Primarily Ampol deals with fuel supply and lubricants but now it is branching out to better pastures, especially green energy. 

As of now, Ampol has three streams that coincide with addressing futuristic energy needs, Ampcharge focuses solely on providing charging facilities in the public domain and even provides charging stations inside the comfort of your home. 

Ampol Energy procedurally localises energy systems to supply energy demands. The last stream is ‘Hydrogen’ where there are public commercial stations available for anyone with a vehicle with an option to use the fuel.

Yancoal Australia Limited (ASX: YAL)

Yancoal Australia (ASX: YAL) comes next in market size and is worth AUD 7.1 billion. Yancoal is a coal mining company and it has devised modern ways to reduce emissions by improving its mining practices and finding higher-grade thermal coal to reduce emission. It publishes yearly ESG reports of its company.

It has a mechanism called the Independent Environmental Assurance Audit (IEAA) program that takes place in a two-year cycle. The report concentrates on environmental compliance, environmental risks, performance, and assurance of ethical and environment-friendly ways pursued in operations. 

The report prompts company experts to take productive steps to ensure better operational practices. The company has reduced its emission output by 6% in 2019 compared to the previous year. It has rehabilitated mines for other uses accounting for 260 hectares.

Coal mining site in Baltimore, Maryland, USA
(Source: www.pexels.com)

Whitehaven Coal Limited (ASX: WHC)

Whitehaven Coal (ASX: WHC) is the fifth largest energy company in Australia, worth AUD 6.6 billion. The company produces primarily coal and has a lot of business in Asia which is still heavily coal-dependent. The company publishes its sustainability report that informs its practices that it indulges in reducing emissions, rehabilitating dugout mines, water recycling and limiting wastage. 

The Australian government’s recent safeguard mechanism initiative called for greater cooperation in reducing dependency on fossil fuels increasing dependency on green energy and reducing Green House Gas (GHG) emissions are some of its pivotal targets. 

The company has a decent target of reducing emissions by 42%, it was able to achieve it in Narrabri and Maules Creek mines. 

This achievement is very much in sync with the safety mechanism initiatives of the govt. The company has carbon abatement procedural techniques in place at onsite work, it also has carbon offset spaces that reduce emissions. It deals with high-CV coal that’s less polluting for the environment.

Digging work in coal mines
(Source: www.pexels.com)

Conclusion

The future is shifting towards green energy and Australian big names in the energy sector are preparing themselves for the shift. Big energy companies like Santos and Woodside Energy are heavily investing in technologies like CCUs and CSUs. 

Cleaner fuels are preferred by all companies to power operations to provide the popular like Hydrogen and Ammonia. Energy companies are also harnessing renewable energy sources to produce electricity. Each company adheres to the SDG goals and wants to do its best to attain net zero emissions by 2050.