Our greatest emissions are in our Scope 1 emissions from power generation at our thermal and geothermal operations and through fuel use in our vehicles. We monitor our direct emissions and other discharges to air in line with resource consents and reporting requirements under the Emissions Trading Scheme. Accurate monitoring enables us to track progress against targets and ensure transparency in reporting. Since 2018, we have been voluntarily reporting our Scope 1, 2 and 3 emissions in line with the Greenhouse Gas Protocol 2004, and we have rebased our Scope 1 emissions to align across the three scopes. We have also applied the operational control consolidation approach, which allows us to focus on those emissions sources that we have control over and have the ability to change.
This year our Scope 1 and 2 emissions were 33 percent lower than the previous year and 55 percent lower than our FY18 base year. Scope 1 emissions were 33 percent (260,221 tCO2e) lower than the previous year; the main contributor being a further reduction in use of our thermal power stations.
We have set emission reduction targets through the Science Based Targets initiative to ensure that our targets regarding Climate Change are ambitious and in line with the current science required to minimise global warming to 1.5 degrees. Our current verified targets are:
These verified Science-based targets show us how much and how quickly we need to reduce our greenhouse gas emissions in order to be consistent with keeping warming below the most dangerous levels to prevent the worst impacts of climate change related warming.