Viva sets sights on net zero

VIVA Energy boss Scott Wyatt sees a future where the Geelong plant produces alternative energy, as the world moves towards a carbon-neutral future.

The Viva Energy Group on Wednesday announced its medium and long-term commitment to reducing carbon emissions across its operations.

The company has set a 2030 goal to reach net-zero emissions across its direct operations, but this excludes the Geelong refinery.

Viva Energy, which has committed to operating the Geelong refinery until 2028, hopes to achieve 10 per cent reduction in emissions intensity by 2030 before becoming carbon neutral across all operations by 2050.

The company's half-year statutory profit, after tax, was $130.1m compared with $11.1m for the first half of 2020.

Mr Wyatt said the company had managed to recover strongly after being heavily affected by the coronavirus pandemic last year.

He said this had led the company to bring forward major works.

Mr Wyatt said 2021 had been less challenging because the refinery was operational throughout the year, and the industry was supported through the federal government’s fuel security scheme.

Mr Wyatt said the net-zero goals would be achieved by improving energy efficiency, implementing and investing in new energy-efficient assets, sourcing renewable electricity for operations and offsetting residual emissions by investing in carbon off-set projects.

He said Viva would also explore opportunities in biofuels, waste recycling, carbon offsets and hydrogen.

Mr Wyatt said Viva was committed to the region.

“We are very proud of the role we play in Geelong and Victoria is our heartland … across the two locations we employ more than 1000 people,” he said.