Perennial Partners (Perennial) is proud to share that it has again been certified as carbon neutral for its business operations for the FY24 period by Climate Active, in partnership with Path Zero. This was also achieved for its business operations for the FY23 period, and the firm first achieved this government backed standard in FY22, and first achieved operational carbon-neutral status in FY21.
Perennial is committed to reducing its carbon footprint and believes that achieving operational carbon neutrality will help to facilitate a better future and the transition towards a low-carbon economy. We are pleased to provide transparency in our operational carbon footprint from a corporate perspective, and regularly encourage portfolio companies across all Perennial funds to publish climate-related disclosures.
In FY24, Perennial undertook various initiatives to continue to reduce our emissions footprint. We have piloted a travel platform to track flights, accommodation, hire cars and to track and pay for carbon emissions automatically. Perennial during FY24 changed the energy plan for it’s Sydney office, maintaining Green Power at 100%. Furthermore, the annual vendor questionnaire sent to Perennial’s material vendors continued to include ESG & sustainability questions, to allow us to strengthen our understanding of GHG emissions in our supply chain, our suppliers’ approach to reducing their emissions footprint, and ultimately, inform our decision making when reviewing our partnerships with suppliers.
Perennial has purchased Australian Carbon Credit Units (ACCUs) to offset its emissions profile for the FY24 period. The ACCUs are associated with Mount Alfred Regeneration Project near Wyandra in Queensland. This project establishes permanent native forests through assisted regeneration from in-situ seed sources (including rootstock and lignotubers) on land that was cleared of vegetation and where regrowth was suppressed for at least 10 years prior to the project having commenced.
Emission Reduction Strategy
Based on current emissions calculation methodology and stable business outcomes, Perennial is targeting a 40% reduction in total emissions across the value chain (scopes 1, 2 and 3) by 2030, from a 2021 base year.
Perennial’s emissions reduction strategy seeks to minimise the firm’s operational carbon footprint, with a focus on our 6 largest emissions sources. Implementation of the emissions reduction strategy will be overseen by the Perennial Sustainability Team, with members of the internal working group focusing on allocated specific deliverables.
Further details about our emissions strategy can be located on the Perennial Partners Climate Active profile here.
