2022 Approach to Climate Change Investor Reference Pack
1.
ANZ 2022 Approach to Climate Change Investor Reference Pack
FINANCE TO BACK CUSTOMERS ON THE RIGHT PATH
New targets set for four carbon intensive sectors
We have set a new emissions intensity reduction target for steel
Steel
GHG2 Intensity (tCO2-e/t Steel)
2.5
ANZ vs. target pathway
+5.9%
Steel¹
NEW TARGET:
28% emissions intensity reduction by 2030
• The opportunities for carbon emission reductions for the steel
sector are well defined, however the technologies facilitating
these reductions are not yet commercially available and will
require 'breakthrough technologies' such as carbon capture
utilization/storage or direct reduction of iron-ore using
renewable energy
• Our 2021 portfolio baseline of 1.90 tCO2-e/tonne steel is in
line with the 2020 global average of 1.89 tCO2-e/tonne steel
Over time we will weight our lending to customers with
stronger emissions targets.
2.0
1.5
1.0
0.5
"
0.0
2020
2025
2030
2035
2040
2045
2050
--
· Actual Performance
IEA Net Zero Emissions 2050 Pathway
--
- 2030 Target (-28%)
World Steel 2020 average emissions intensity
We measure the portfolio emissions in the steel sector on an 'emissions intensity' basis. Refer to ANZ's Financed Emissions Methodology for detail
>10% above the pathway
<10% above pathway
●Below pathway
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