The Australian Prudential Regulation Authority’s (APRA) Emissions Reduction plan has been prepared in accordance with the reporting requirements under the Public Governance, Performance and Accountability Act 2013 (PGPA Act) and s516A of the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).

The Australian Government released the Net Zero in Government Operations Strategy in November 2023, setting out the overall approach and action required by Commonwealth entities to achieve the APS Net Zero 2030 target.

The Net Zero in Government Operations Strategy represents a commitment by the Australian Government to lead by example on emissions reduction and contribute to the decarbonisation of Australia’s economy.

APRA is following the APS Net Zero 2030 target in full, as per the Net Zero in Government Operations Strategy.

This Emissions Reduction Plan describes the priorities and actions APRA is taking to reduce our operational emissions and contribute to the APS Net Zero 2030 target.

Foreword

APRA’s Emissions Reduction Plan contains initiatives to be rolled out progressively over the next four years. The report outlines APRA’s priority areas of focus to reduce our operational emissions and contribute to the APS Net Zero 2030 target.

In addition to the information contained in this report, APRA reports on greenhouse gas emissions in the APRA Annual Report.

John Lonsdale
Chair
Australian Prudential Regulation Authority

Emissions Reduction Plan

Purpose

APRA is responsible for managing and implementing emissions reduction initiatives set by the Australian Government’s Net Zero in Government Operations Strategy (the Strategy) developed by Department of Finance. The Strategy sets out the Australian Government’s approach to achieving net zero greenhouse gas emissions from its operations by 2030 and the reinstatement of public emissions reporting.

The goal of this Emissions Reduction Plan is to provide APRA’s baseline emissions as at 30 June 2023 and advise the pathway for APRA to contribute to the achievement of the APS Net Zero 2030 target through emissions reduction activities.

This plan encompasses existing and new priorities and actions within APRA to reduce emissions.

This Emissions Reduction Plan has been completed in accordance with the Strategy, associated guidance and reporting standards for annual emissions reporting.

Net zero greenhouse gas emissions

APS Net Zero 2030 is the target set by the Australian Government to achieve net zero greenhouse gas emissions from government operations by the year 2030. The APS Net Zero 2030 target applies at the aggregate level to non-corporate Commonwealth entities and covers the entirety of the entity’s organisation. From an organisational perspective, this means that APRA must minimise the greenhouse gas emissions that are within our control.

Governance and reporting

Progress against actions identified within this Emissions Reduction Plan, and any additional measures adopted will be included in our annual reports. This, combined with annual emissions reporting, will be used as a measure of APRA’s progress towards reducing its emissions.

As part of the Net Zero in Government Operations Annual Progress Report, the Department of Finance will aggregate these measures to provide whole-of-Australian Government emissions reporting.

APRA’s Operational context

APRA has office premises in four locations nationally: Sydney, Melbourne, Brisbane and Canberra. APRA's operational footprint is primarily office-based, with emissions largely arising from leased office accommodation, electricity consumption, business travel and information technology infrastructure.

APRA largely occupies premises with a National Australian Built Environment Rating System (NABERS) rating, supporting energy efficiency objectives and contributing to reduced operational emissions over time.

APRA does not operate a vehicle fleet or maintain permanent leased car parking facilities. Critical technology services are supported through secure offsite datacentre infrastructure, which underpins APRA's supervisory, regulatory and corporate operations.

APRA's operational resilience is dependent on the continued availability of office facilities, technology services, telecommunications networks and workforce capacity, all of which may be affected by physical climate risks such as severe weather events.

APRA's operational model includes a combination of office-based and flexible working arrangements, supported by nationally distributed staff and digital service delivery. This approach assists APRA in maintaining business continuity and resilience while enabling ongoing assessment of opportunities to optimise office utilisation and reduce operational emissions.

APS Net Zero 2030 emissions reporting

To meet the government’s expectations to report transparently on emissions under the APS Net Zero 2030 policy, APRA publishes emissions from its operations.

Greenhouse gas emissions reporting has been developed with methodology that is consistent with the whole-of-Australian Government approach as part of the APS Net Zero 2030 policy. The emissions reporting can be found in APRA’s Annual report.

Engagement

In the development of this plan APRA has been working with:

• Climate Action in Government Operations – to ensure that this plan aligns with the Net Zero in Government Operations Strategy and the Commonwealth Climate Disclosure requirements.
• Travel Team – to discuss options and considerations for lowering travel emissions.
• Building owners or their nominated representatives – to manage and engage on the National Australian Built Environment Rating System (NABERS).

Emissions reduction targets

APRA is following the APS Net Zero 2030 target in full, as set out in the Net Zero in Government Operations Strategy. The target aims to achieve net zero Scope 1 and Scope 2 greenhouse gas emissions from Australian Government operations by 2030.

The target applies to the entirety of APRA's operations within Australia and its territories and is measured against the APS Net Zero 2030 baseline and reporting requirements established by the Australian Government.

APRA monitors its greenhouse gas emissions annually in accordance with the Australian Public Service Net Zero Emissions Reporting Framework and publicly reports its emissions through its Annual Report.

Progress towards the APS Net Zero 2030 target is supported through the actions outlined in this Emissions Reduction Plan, including, renewable electricity procurement, sustainable procurement practices, office accommodation initiatives and travel-related emission reduction activities.

APRA's progress towards emissions reduction objectives is reviewed through existing governance arrangements, including annual emissions reporting and periodic review of actions under this Emissions Reduction Plan.

Priorities and actions