We help power developed and emerging economies, predominantly in Asia, where there continues to be strong and growing demand for our coal, particularly for use in high-efficiency, low-emissions coal-fired power stations.
Coal is expected to continue to play a critical role in underpinning economic activity and energy security for decades, with global demand for high-CV coal forecast to grow by 28% to 2040 and supply expected to tighten. Whitehaven’s high-quality, high-CV thermal coal is helping meet decarbonisation goals and we expect it will be required throughout the multidecade energy transition to at least 2050.
In March 2023, the Australian Government introduced measures to implement reforms to the Safeguard Mechanism that came into effect on 1 July 2023. Whitehaven’s FY30 net Scope 1 emissions intensity reduction target of 42% is aligned with the Safeguard Mechanism emissions intensity reduction obligations that are applicable to our Narrabri and Maules Creek mines.
Our emissions intensity reduction target will be achieved through a combination of site-specific emissions abatement initiatives and the use of carbon offsets.