Z releases Climate Statements, highlighting risks and opportunities

Z Energy (Z) has today released its Climate Statements, its first under the new Aotearoa New Zealand Climate Standards regime.

These Climate Statements outline Z’s nationwide climate-related risks and opportunities across its retail, fuel and supply infrastructure network, as well as Flick Electric – the electricity retailer owned by Z. 

While Z is now required to make climate-related disclosures, Z CEO Lindis Jones says the company has been producing voluntary climate-related disclosures within its Annual Report from FY20, providing valuable information on what climate change might mean for Z and its customers.

“We are committed to providing transparency on material climate-related risks and opportunities Z faces. Climate change is complex and evolving and it brings with it a great deal of uncertainty, which can make identifying the impacts that we expect to see in the future a real challenge. This said, we believe our Climate Statements provide a valuable insight into Z’s views on the current and anticipated impacts of climate change on our business, and highlights some of the key actions we are taking to support a shift towards a low carbon Aotearoa New Zealand,” says Lindis.

“As one of New Zealand’s leading transport energy companies, we are very aware of the greenhouse gas (GHG) emissions resulting from the fuel we sell. From 1 January to 31 December 2023, Z reported total GHG emissions of 12,939,963 tonnes of carbon dioxide equivalent (tCO2-e), with fuel sold the single largest contributor of these emissions. While we have a responsibility to continue to provide a safe and reliable supply of energy to keep our customers and the economy moving, we also believe our role is to make alternative energy choices easier for our customers.

“Our success will be determined by how we deliver for our customers today, while supporting households and businesses to transition to a low carbon future,” says Lindis.

Z invested $19.2 million of capital on low carbon energy initiatives in 2023. This included $2 million to increase its stake in Flick Electric to 100 percent, along with additional investment in Z’s EV network rollout.

“By the end of 2023 we had 104 EV charging bays available across 37 Z retail sites, and our goal is to have 150 charging bays across the Z retail network by the end of 2024.”

Beyond Z’s investment in low carbon initiatives, the company also spent $1.5 million on biodiversity, voluntary carbon offsetting and climate resilience. This spend includes Z’s annual $1 million biodiversity fund supporting biodiversity projects that are committed to restoring indigenous biodiversity at scale, through partnerships with The Nature Conservancy, Trees That Count and the Sustainable Business Network.  

“Z is truly committed to Aotearoa New Zealand and remains focused on balancing our responsibility to meet New Zealanders’ energy needs now and adapting as these continue to change in the future,” continues Lindis.

Read Z's Climate Statements (PDF 5MB).